Global tax software provider Sovos announced the availability of Sovos Advanced Periodic Reporting platform. The new platform brings hundreds of customers onto next-generation architecture designed for performance, scalability, enhanced functionality and expanded global coverage. The solution automates, centralizes and streamlines indirect tax compliance processes for businesses operating across Europe, the Middle East, Africa, Latin America and Asia. By replacing manual processes, local point solutions and tax compliance outsourcing with a single, cost-effective, global solution, Sovos handles all indirect tax filings as companies’ tax, finance and IT infrastructures evolve and businesses expand into new territories.
Multinational companies face a changing compliance landscape, where authorities are accelerating the digital transformation of tax, increasing the burden on businesses to meet local regulations. The Sovos Advanced Periodic Reporting cloud solution integrates with any ERP or financial source system, including SAP, Oracle, Microsoft Dynamics and more. By extracting transactional data directly from customer source systems, Sovos mitigates the risks and costs of compliance, and future-proofs customers against continued regulatory change.
“Sovos Advanced Periodic Reporting alleviates workload burdens for companies grappling with frequent, disparate regulatory changes across VAT jurisdictions around the world,” said Ryan Ostilly, vice president of product management at Sovos. “Its high-performance data processing, intelligent validation and world-class content provide immense value and a superior user experience. It’s one more way we’re fulfilling our promise to customers: to tackle their most difficult global compliance challenges and help them truly Solve Tax for GoodⓇ.”
Sovos Advanced Periodic Reporting is part of a fully scalable solution suite for global VAT compliance obligations, including real-time reporting, e-invoicing, e-receipts and e-archiving.
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