Customers can now simplify global tax compliance while reducing the number of point solutions they maintain

ATLANTA: Sovos, the always-on compliance company, today announced that they have achieved full SAP certification for its Indirect Tax Suite, which includes VAT and Sales Tax determination, e-invoicing and filing. With Sovos’ Indirect Tax Suite, SAP customers can implement a unified, global tax compliance solution aligned to their S/4HANA migration strategy. Sovos empowers businesses to future-proof their tax compliance strategies against increasingly complex tax environments and evolving regulations, thus reducing the risks associated with non-compliance.

“This certification is a significant step forward for SAP customers looking to simplify their approach to global compliance,” said Steve Sprague, chief strategy officer, Sovos. “By consolidating all essential tools for managing tax compliance across markets and geographies into a comprehensive global technology suite, businesses can enhance efficiency and lower costs.”

SAP customers can now eliminate the inefficiencies and high costs associated with fragmented point solutions from multiple local vendors across global regions. Sovos’ Indirect Tax Suite for SAP ensures seamless compliance with tax regulations worldwide. It integrates with SAP ECC and S/4HANA, automates tax determination, e-invoicing and reporting, and aligns with SAP Clean Core principles. Sovos reduces risks, enhances efficiency and scales to meet the needs of your business today and into the future.

Key features of the Sovos Indirect Tax Suite for SAP:

• Integrates seamlessly with SAP ECC and S/4HANA: This feature eliminates compliance disruptions during SAP migrations or upgrades, ensuring consistent tax processes while leveraging existing ERP investments for smoother transitions
• Automates global tax determination: By applying configurable tax rules, this capability ensures precise compliance with varying international regulations, reducing manual errors and enabling scalable operations
• Enables real-time e-invoicing and CTC compliance: Certified integrations with government systems facilitate on-time submissions and validations, lowering risks of penalties and ensuring compliance with evolving digital mandates
• Provides tools for tax reporting and filing: Robust functionality supports accurate preparation and submission of tax returns across jurisdictions, minimizing errors and helping meet local regulatory timelines
• Works toward SAP Clean Core compliance: Sovos recognizes SAP’s Clean Core approach as a key initiative for minimizing customizations, enhancing system stability, and simplifying future upgrades
• Offers embedded analytics for compliance monitoring: Advanced analytics provide actionable insights into tax performance, allowing businesses to proactively address compliance risks and optimize tax strategies
• Delivers scalability with a unified platform: The platform adapts to complex tax environments and growing operational needs, supporting businesses as they expand into new regions and markets

“The global demand for tax and regulatory compliance data continues to grow in complexity,” continued Sprague. “The Sovos Indirect Tax Suite equips businesses to navigate even the most challenging tax environments, including Brazil, where a major tax reform is underway.”

About Sovos

Sovos is transforming tax compliance from a business requirement to a force for growth. Our flagship product, the Sovos Compliance Cloud platform, enables businesses to identify, determine, and report on every tax obligation across the globe. Sovos processes 16 billion+ transactions per year, helping companies scale their compliance strategy in almost 200 countries.

More than 100,000 customers – including half the Fortune 500 – trust Sovos’ tax and regulatory expertise and unparalleled integration with their business applications. Learn more at sovos.com.

Fonte: Business Wire