Sovos Compliance, LLC

Wilmington,  MA 
United States
http://sovos.com
  • Booth: 1412

Sovos provides complete, connected offerings for tax determination, continuous transaction control compliance, tax reporting and more. Our fully integrated solution systemically manages your sales and use tax processes, enabling your tax and finance professionals to focus on creating revenue streams, scaling operations and ensuring business growth. Global Tax Determination delivers instant sales tax calculations even during peak transactional periods, and our SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. The company supports more than 20,000 customers operating in over 70 countries, including half of the Fortune 500. 


 Press Releases

  • The IDC MarketScapes highlight Sovos as “dependable cloud tax software capable of supporting the compliance and regulatory demands on businesses of every size”

    BOSTON – October 11, 2021 -Global tax software provider Sovos today announced it has been recognized as a Leader in both the “IDC MarketScape: Worldwide SaaS and Cloud VAT Software 2021 Vendor Assessment” and “IDC MarketScape: Worldwide Cloud-Enabled Sales and Use Tax Automation Software for Enterprise 2021 Vendor Assessment” reports. This marks the second time Sovos has been recognized as a Leader by the IDC MarketScape¹. According to the IDC MarketScape, Sovos is ideal for companies “looking for dependable cloud tax software capable of supporting critical tax compliance and regulatory demands.”  

    IDC MarketScape is the premier vendor assessment tool for the information and communications technology (ICT) industry. The report provides in-depth technology market assessments of ICT vendors for a wide range of markets. The comprehensive assessment of market competitors offers critical information needed to evaluate technology solutions.

    “Sovos combines local expertise with a seamless, global customer experience across its full suite of compliance solutions,” said Kevin Permenter, IDC research director, financial applications. “They are a strong choice for companies of any size looking for cloud tax software and services to meet compliance and regulatory demands anywhere they do business.” 

    A secure, reliable, scalable and flexible cloud platform for the demands of modern tax

    The IDC MarketScape reports highlight Sovos’ strong cloud software platform, which is the world’s first complete solution for modern tax. It combines tax determination and reporting tools for sales and use tax, value-added tax (VAT) and other transactional taxes with modern, digital reporting and e-invoicing compliance software. The solution is supported by the proprietary Sovos S1 Platform, an architecture, development framework and cloud infrastructure built to deliver tax compliance software wherever and whenever businesses need it, without fail.

    In addition, the report noted Sovos’ advanced APIs and its multiple physical data center approach, which recently achieved active-active status, delivering the security, reliability, scalability and flexibility businesses need to meet the escalating demands of modern tax. 

    “Digital tax compliance is a complex problem every business needs to solve. That’s why our mission is to Solve Tax for Good® and why we’ve built the most complete solution available for modern tax through organic innovation and strategic acquisitions,” said Andy Hovancik, President and CEO, Sovos. “Sovos’ positioning in the IDC MarketScape reports reflect our ongoing commitment to ensure frictionless commerce for our customers everywhere they conduct business.”

    The only scalable, end-to-end solutions for VAT and sales and use tax compliance

    Governments across the globe – from Chile to India – are enacting complex new policies to enforce VAT mandates, obtain unprecedented insight into economic data and close revenue gaps – but every country writes its regulations differently. As a result, companies – from small and medium businesses to multinational corporations – are challenged to ensure compliance despite diverse VAT enforcement approaches. The IDC MarketScape highlights Sovos’ use of automation and advanced technology to provide continuous and real-time e-invoicing compliance. 

    According to the VAT report, “multiple customer references cited Sovos’ capability with e-invoicing as one of the major benefits of choosing their solution.” 

    For Sales and Use Tax for Enterprise, the report states, “Sovos’ Global Tax Determination Cloud scales horizontally to handle unlimited transaction volume. It delivers active-active clusters across globally distributed, secure data centers to enable differentiated reliability and no downtime, even in the event of a data center outage.”

    Sovos was also named a leader in the “IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales and Use Tax Automation Software for Small and Midsize Businesses 2021 Vendor Assessment.” This MarketScape report noted that “Sovos has flexible deployment options, with modern APIs, certified integrations, batch processing, and localized calculation.”

    Accelerating local expertise and global reach

    Sovos continues to expand its global footprint with expert teams around the world. In fiscal year 2021, Sovos completed nine acquisitions in six countries, an increase of more than 100% in mergers and acquisitions activity over the previous fiscal year. As a result, Sovos now has expert teams in 13 countries and supports customers operating in 70 countries. 

    Read the IDC MarketScape Reports:

    ¹IDC MarketScape Worldwide SaaS and Cloud-Enabled Sales Tax and Automation Applications. IDC# US43263718e. January 2019.

    About Sovos

    Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.

    About IDC MarketScape

    IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors. 

  • Industry-first reflects “Every Season is Busy Season” promise to customers

    BOSTON – July 21, 2021 – Global tax software provider Sovos today announced that its globally distributed cloud data center configuration has achieved active-active status, delivering the security, reliability, scalability and flexibility businesses need to meet the escalating demands of modern tax. The milestone is a first in the tax compliance software industry and comes after multi-year investments in the Sovos S1 Platform, an architecture, development framework and cloud infrastructure built to deliver tax compliance software wherever and whenever businesses need it, without fail. 

    Because not all clouds are created equal, Sovos made an “Every Season is Busy Season” promise to customers with its Global Tax Determination (GTD) Cloud solution, to deliver real-time tax calculations supported by two active data centers that can simultaneously receive traffic and process calculations received via REST or SOAP API. The real-time sales tax cloud solution reliably and securely supports customers’ most important moments — back-to-school, day-after-Thanksgiving, year-end tax filing, COVID-related surges, sales tax holidays and other high-demand periods — at a time when every customer transaction is critical.

    “There is intense urgency during these times around the digital transformation of tax. Now more than ever, data needs to be shared quickly, and companies view cloud as the key to staying agile amid accelerating tax regulation changes,” said Kevin Permenter, research manager, IDC. “Sovos has made significant investments in technology architecture and technical expertise to help companies prepare for the new normal.”

    In recent years, retailers and manufacturers have moved to direct-to-consumer business models, forcing a shift in availability standards. Seeing this trend coming, Sovos made the infrastructure investments necessary to eliminate maintenance windows and failover scenarios, achieving a recovery time objective (RTO) of 0 seconds. Unlike competing “cloud” offerings that struggle to deliver reliable service or require IT support for on-premise or private cloud hardware, systems and tax engines, Sovos’ hybrid GTD Cloud solution provides distributed calculation capabilities, centralized SaaS management and automated tax regulation updates.

    Sovos GTD Cloud scales horizontally to handle unlimited transaction volume. It delivers active-active clusters across globally distributed, secure data centers to enable differentiated reliability and no downtime, even in the event of a data center outage. The solution has flexible deployment options, with modern APIs and certified integrations built on Sovos’ S1 Platform cloud infrastructure.

    “The winter holiday season is often mentioned as the most important time for retailers, but that differs depending on your market, your region and, as we’ve seen in the past year, unpredictable world events. We have to assume any week, any month, could be any our customers’ ‘busiest season,’ and Sovos is ready with unparalleled reliability that gives businesses the experience they deserve and the solutions they need to stay compliant in an evolving regulatory landscape,” said Terry Melnik, general manager of Sales and Use Tax at Sovos.

    For more information:

  • New SuiteApp for ecommerce meets Oracle NetSuite SuiteCloud Platform development standards and best practices

    BOSTON – June 8, 2021 – Sovos, a global tax software provider, today announced that its Advanced Integration for SuiteCommerce has achieved the ‘Built for NetSuite’ status. The new SuiteApp, built using the Oracle NetSuite SuiteCloud Platform, helps organizations easily comply with local jurisdictions, save time on tax filings, while maintaining the seamless tax connection between NetSuite’s ERP and ecommerce solutions. 

    “Businesses are facing a real challenge when it comes to maintaining compliance with ever-evolving tax rules and rates,” said Terry Melnik, general manager, sales and use tax, Sovos. “Online sellers especially want peace of mind that they have a rooftop level of jurisdictional accuracy. Our SuiteApp’s ‘Built for NetSuite’ designation reassures our customers that they have a complete, connected and continuous solution for sales tax that integrates seamlessly with their NetSuite Cloud ERP and allows them to focus their time on growing their business.”

    Sovos Advanced Integration for SuiteCommerce offers real-time sales tax calculation, which allows online sellers to better manage monthly and quarterly tax filings and stay current on the latest regulatory requirements.

    “The tax regulatory landscape continues to change, meaning businesses need efficient options that safeguard meeting compliance,” said Guido Haarmans, vice president, SuiteCloud Developer Network and Partner Programs, Oracle NetSuite. “This new SuiteApp extends our robust solution for ecommerce. It helps NetSuite customers comply with local jurisdictions with ease, streamline filings, and have the peace of mind knowing that all of their data is where it needs to be.” 

    Built for NetSuite is a program for NetSuite SuiteCloud Developer Network (SDN) partners, which provides them with the information, resources and methodology required to help verify that their applications and integrations meet NetSuite standards and best practices. The Built for NetSuite program is designed to give NetSuite customers additional confidence that SuiteApps, like Sovos SuiteCommerce Advanced Integration, have been built to meet these standards. 

    For information about Built for NetSuite SuiteApps, visit www.netsuite.com/BuiltforNetSuite. For more information about the integrated solution, visit www.suiteapp.com

    About SuiteCloud 

    Oracle NetSuite’s SuiteCloud platform is a comprehensive offering of cloud-based products, development tools and services designed to help customers and commercial software developers take advantage of the significant economic benefits of cloud computing. Based on NetSuite, the industry’s leading provider of cloud-based financials / ERP software suites, SuiteCloud enables customers to run their core business operations in the cloud, and software developers to target new markets quickly with newly-created mission-critical applications built to extend the power of NetSuite and unlock further growth for NetSuite customers. 

    The SuiteCloud Developer Network (SDN) is a comprehensive developer program for independent software vendors (ISVs) who build apps for SuiteCloud. All available and approved SuiteApps are listed on SuiteApp.com, a single-source online marketplace where NetSuite customers can find applications to meet specific business process or industry-specific needs. For more information on SuiteCloud and the SDN program, please visit https://www.netsuite.com/portal/developers/overview.shtml

    About Sovos

    Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction control compliance, tax reporting and more. The company supports more than 16,000 customers operating in over 70 countries, including half of the Fortune 500. Its SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.

    Trademarks 

    Oracle and Java are registered trademarks of Oracle and/or affiliates. Other names may be trademarks of their respective owners. 


 Products

  • Sovos Global Tax Determination (GTD)
    GTD is an always-on cloud solution built to empower businesses. With unparalleled uptime, performance and scalability, improve operational efficiency while being confident in your compliance....

  • Get automated, accurate sales tax rates and rule updates across the U.S. for state and local jurisdictions for all sales and purchases, and VAT and GST for more than 185 countries. Sovos Global Tax Determination (GTD) includes thousands of unique product codes and industry-specific content, product types and scenarios, including variables like caps and thresholds, drop shipments, tax holidays or project exemptions to stay compliant despite the most complex scenarios. Backed by the Sovos Intelligent Compliance Cloud and S1 Architecture, Global Tax Determination delivers instant tax calculations even during peak transactional periods, like Black Friday and Cyber Monday. Flexible deployment options ensure 100% up-time and performance.

    Learn more about unparalleled uptime with our Active/Active infrastructure. 

    Read more about GTD here. 

  • Sovos Filing
    Sovos Filing ensures a seamless flow of data from your business systems, populating your sales tax returns for a simplified filing experience....

  • Our software tools streamline the filing process, easily consolidating your transactional data from your business systems. Customers can view how their transactional data was placed onto their returns for easier reconciliation and adjustment. Additionally, you can keep your tax team aligned by managing your filing calendar, assigning tasks and viewing the statuses of your returns. Sovos Filing helps you stay compliant with electronic data submission via e-File, electronic data interchange (EDI) and streamlined electronic return (SER) files to your local and state jurisdictions. 

    Click here to watch a demo. 

    Visit our website for more details.

  • Sovos Filing - Filing Connectors
    Our library of pre-built connectors allow you to quickly connect your ecommerce store or popular online marketplaces to Sovos Filing, expediting your sales tax return submission process....

  • Shopify and Amazon are currently supported by the Sovos Filing - Filing Connectors.

    Key benefits of this product include:

    • A simple one-minute activation process for this “set and forget” connection

    • Assurance that your transactions are sent throughout the month, avoiding late submissions

    • Reduced time spent on data reconciliation, return preparation and filing

    • No need to waste time manually importing data each month

    • Consolidation of transactional data in tandem with your ERP platform or exclusively from your ecommerce stores

    Get more information here.