Articles from Sovos

Sovos, the always-on compliance company, has been named a Leader in the IDC MarketScape for Worldwide Value-Added Tax Management 2024 Vendor Assessment (Doc # US52732824, December 2024). The report noted, “Sovos VAT compliance solutions and services include full coverage for VAT reporting, continuous transaction control compliance, e-invoicing clearance, post-audit e-invoicing, and tax determination. In IDC’s evaluation, Sovos performed well in VAT functionality, especially VAT reporting, localized VAT support, recovery/reclaim, governance, and certifications.”

Sovos, the always-on compliance company, today announced the appointment of two executive leaders. David Woodworth joins Sovos as its chief financial officer (CFO), where he will lead all finance, accounting, tax and treasury matters of the company while overseeing financial integrations. Swati Garodia assumes the role of chief product officer (CPO), where she will lead the product, design, and content organization, set the company’s product strategy and work closely with the technology organization to accelerate Sovos’ platform vision. Both executives bring to Sovos extensive experience and expertise in leading global teams while delivering high-quality results for large portfolio companies.

Sovos, the always-on compliance company, today announced record-breaking performance during this year’s Black Friday and Cyber Monday shopping events. The company processed taxes on nearly 300 million items on these two days alone – of the 16+ Billion processed annually – showcasing the scalability and reliability of its global tax determination engine. On Black Friday, Sovos experienced a 92% increase in transaction count and Cyber Monday experienced a similar trend with a transaction volume increase of 83% compared to 2023. Despite these unprecedented volumes, Sovos maintained 100% uptime, ensuring uninterrupted service for its customers.

Sovos, the always-on compliance company, today announced the launch of 1099 Professional, a new solution designed to simplify tax information reporting for small and medium sizes businesses (SMBs). 1099 Professional expands Sovos’ comprehensive tax information reporting portfolio, offering SMBs an intuitive software solution for the preparation, electronic filing and print and mailing of 1099 and 1042-S forms.

Sovos, the always-on compliance company, has been named a Leader in the IDC MarketScape: European Compliant E-Invoicing 2024 Vendor Assessment (doc #EUR151806424, September 2024).The report noted, “Having intensified its investment efforts to building a solution that consists of capabilities in CTC, SUT filing, and tax determination, Sovos has emerged as a trusted advisor that provides advisory services for other vendors in the e-invoicing space, in addition to customers.”

Sovos, the always-on tax compliance company, announced the availability of its Indirect Tax Suite for SAP, the first of its kind, an end-to-end solution for indirect tax determination, e-invoicing, filing, and reporting. The indirect tax solutions work with any kind of SAP environment – ECC and S/4HANA (on-premise, private/public cloud). The Indirect Tax Suite is also fully aligned with SAP’s clean core strategy, ensuring businesses can maintain complete and continuous compliance across all tax and regulatory processes without compromising the integrity of their ERP systems. This approach reduces the complexity of tax compliance in their SAP environment, while supporting long-term system stability and scalability. It also helps businesses prepare and meet deadlines for future SAP upgrades — preventing tax challenges from hindering their implementations.

Sovos, the always-on compliance company, announced today that CRN®, a brand of The Channel Company, has named Heidi Biggar, Claire Hulett, Danielle Moore, Emily Cripe and Wendy Francis to the Women of the Channel list for 2024.

Sovos, the always-on compliance company, introduces its Indirect Tax Suite, a comprehensive, integrated solution to modernize how companies meet global indirect tax obligations. Part of the Sovos Compliance Cloud, the Indirect Tax Suite empowers enterprises to manage all of their indirect tax obligations with governments, buyers, suppliers and consumers.

Sovos, the always-on compliance company, announced that it has aligned with the Digital Business Networks Alliance (DBNAlliance) as an early member, marking a significant milestone in the initiative’s development. As a major player in the industry processing more than 11 billion transactions each year, Sovos’ membership is a substantial show of support for the DBNAlliance’s mission to rapidly deploy a framework of standards and supporting services for seamless electronic data exchange in the U.S., across the Atlantic and globally.

Sovos, the always-on compliance company, today announced enhancements to its Sovos Partner Network program, further elevating its commitment to transform compliance from a business requirement into a force for growth. The simplified program provides partners with an easy path to growth through new technology, revenue, and marketing opportunities.

Sovos, the always-on compliance company, today announced the availability of an enhanced Connector Marketplace, making it more efficient for customers and partners to connect to Sovos’ Compliance Cloud. Through these connectors, companies can seamlessly implement Sovos’ tax compliance and regulatory reporting solutions into their existing enterprise financial systems eliminating compatibility issues and ensuring data security and achieving always-on compliance.

Sovos, the always-on compliance company, has been honored by CRN®, a brand of The Channel Company, with inclusion in its 2024 Partner Program Guide. This annual guide provides essential information to solution providers exploring technology vendor partner programs that offer high value and align with their business needs and goals.

Sovos ShipCompliant and the Brewers Association today announced the results of the fourth annual Direct-to-Consumer Beer Shipping Report. Among the findings were nearly nine in 10 (86%) regular craft beer drinkers believe that current laws in the U.S. should be updated to make it legal to ship beer direct-to-consumer in more than the 12 U.S. locales where it is currently allowed. What’s more, this desire extends beyond regular craft beer drinkers to all legal drinking age Americans, with more than two in three Americans ages 21+ (68%) saying laws should be updated.

Global compliance technology solutions and services provider Sovos today announced that Charles Maniace, vice president of regulatory analysis & design, was recognized in Accounting Today’s Top 100 Most Influential People. The list identifies thought leaders, change-makers, regulators and others who are shaping the profession and charting its future.

Sovos, the always-on compliance company, today announced the launch of the Sovos Compliance Cloud, the industry’s first and only solution that unifies tax compliance and regulatory reporting software in one platform and provides a holistic data system of record for global compliance. The Sovos Compliance Cloud represents the culmination of more than eight years and hundreds of millions of dollars of investments in native engineering. That investment is combined with integrations into most ERP, P2P and eCommerce technology ecosystems and incorporates several billions of dollars of acquired, best-of-breed products from around the globe.

Global compliance technology solutions and services provider Sovos today announced the appointment of two new executives. Andy Hershey joins Sovos as its chief revenue officer, where he will lead the global direct sales and sales engineering organizations. Chris Lynch joins the company as chief marketing officer, where he will lead cross-functional teams across multiple marketing disciplines and direct all initiatives impacting the category-leading brand. Both leaders bring to Sovos extensive experience in managing growth initiatives for large portfolio companies, and in markets consolidating from point solutions to platforms.

Reflecting inflationary pressures and declines in winery visitation, 2023 brought a 6.5% decrease in year-over-year shipment volume to the direct-to-consumer (DtC) wine shipping channel, according to the latest Direct-to-Consumer Wine Shipping Report from Sovos ShipCompliant and WineBusiness Analytics. ShipCompliant is the beverage alcohol compliance business of global tax compliance technology solution and service provider Sovos.

Global compliance technology solutions and services provider Sovos announced today it has acquired North Dakota-based Aatrix Software, a leader in payroll tax forms, extending our leadership in compliance with enhanced capabilities across e-Filing for 1099 and ACA 1095 reporting and W2/payroll reporting – increasing our local, state and federal coverage. This acquisition brings together two companies with significant experience and expertise in helping small and medium-sized businesses navigate the complexity of tax and regulatory compliance.

Global compliance technology solutions and services provider Sovos today announced the appointment of Dominic Constandi as its new Chief Customer Officer. In this role, he will initiate and drive customer programs that maximize customer value, ensure client success, and leverage the Sovos portfolio of best-in-class solutions and services to deliver true confidence to businesses navigating the complex regulatory environment. Constandi brings more than 20 years of global customer expertise to Sovos, with extensive experience leading cross-functional teams within the financial services and technology sectors. Known as a creative and analytical leader, he has a proven track record of building strong teams within successful organizations.