IFS, a provider of enterprise cloud and Industrial AI software and Sovos, a tax compliance company, announced a strategic technology partnership to integrate an indirect tax suite within IFS Cloud, enabling enterprises to streamline, optimize and automate complex tax compliance obligations using real-time data from across the organization.
The collaboration aims to help multinational companies streamline and automate complex tax obligations by using real-time data from IFS Cloud, which leverages Industrial AI. This partnership addresses the growing challenge of keeping up with constantly changing regulatory requirements across over 20,000 tax jurisdictions worldwide.
The integration will enable finance teams to avoid penalties, prevent compliance-related business disruptions, and support cash flow planning through continuous transaction control and automation. Leaders at both companies, Christian Pedersen from IFS and Kevin Akeroyd from Sovos, highlighted the critical role that tax compliance plays in business operations, stressing the value of automation in navigating these complex demands. This partnership aims to provide enterprises with the tools to remain agile and compliant while expanding into new markets.
Kevin Akeroyd, CEO, Sovos, says “Regulatory compliance is growing more important within major organizations, elevating to the C-suite level. Their ability to operate in and expand into new markets is compromised if they can’t get compliance right. We are excited to integrate within the powerful IFS Cloud ecosystem to extend the benefits and value to more enterprises globally.”
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