During the digital procurement process, having a system in place to ensure accurate tax calculation for quotes, orders and invoices is critical for organizations to stay compliant.
May 19, 2020
Global tax software provider Sovos today announced that its Global Tax Determination software is now available for early adopters on the SAP App Center, the digital marketplace for SAP partner offerings. Sovos Global Tax Determination integrates with SAP Ariba and delivers real-time tax calculations to customers in order to facilitate transactions in any jurisdiction accurately and efficiently.
Ensuring accurate rates for use tax is essential. You need to be right every time — in real time — no matter how often rates change or how many product and jurisdictional combinations you’re managing. Through Sovos’ seamless invoice reconciliation process, you can support the entire invoice reconciliation workflow to ensure you are remitting the correct tax. Users can also easily automate the process of identifying and self-assessing the correct tax obligation on purchases. With full visibility of your tax obligations, companies can reduce or eliminate manual and redundant processes.
“The speed of regulatory change makes it a near impossibility to stay current and ensure the accuracy of rates for sales and use tax manually. During the digital procurement process, having a system in place to ensure accurate tax calculation for quotes, orders and invoices is critical for organizations to stay compliant,” said Monica Gauba, director of product management, Sovos.
Sovos Global Tax Determination for Procurement with SAP Ariba provides many benefits for customers looking to solve critical tax issues, including:
Easy to implement: Accelerate your ‘Go Live’ and reduce risk faster with simplified configuration.
- Optimal cloud performance: Backed by the Sovos Intelligent Compliance Cloud and S1 architecture, Global Tax Determination delivers instant tax calculations even during peak transactional periods.
- Do business anywhere: Save time, increase efficiency and establish peace of mind. Automated and accurate sales and use tax rates and rule updates for more than 185 federal, state and local jurisdictions for all sales and purchases are provided.
At the SAP App Center, businesses can discover approximately 1,800 innovative partner solutions that integrate with and extend SAP solutions. The solutions are SAP-validated and can be sorted by SAP product line, industry, solution type and use-case scenario, creating a seemingly endless supply of opportunities. Find, try, buy and manage SAP partner solutions digitally at http://www.sapappcenter.com.
Sovos is a partner in the SAP PartnerEdge program. As such, it is empowered to build, market and sell software applications on top of market-leading technology platforms from SAP. The SAP PartnerEdge program provides the enablement tools, benefits and support to facilitate building high-quality, disruptive applications focused on specific business needs – quickly and cost-effectively. The program provides access to all relevant SAP technologies in one simple framework under a single, global contract.
Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern tax. As governments and businesses go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud combines world-class regulatory analysis with its secure, scalable and reliable S1 cloud software platform to create a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg. For more information visit http://www.sovos.com and follow us on LinkedIn and Twitter.
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