Bloomberg Tax vs. Sovos Intelligent Compliance Cloud

The fixed asset software is very advanced for software in general, but it is limited to accounting (GAAP and Tax) fixed assets. Would love to see a more IT user friendly software allowing IT personnel to use a gun to scan the servers and computers, etc. This wouldn't necessarily be a fixed asset as many computer items are too small dollar wise, but it would be a useful feature for IT and accounting to track IT assets by locatoin, user, departmetn, etc. and would be company wide. Another software needed is for company contracts with an ability to send out emails for notifications that a given contract is coming due. Obviously, this would be for contracts and leases but is also useful for accounting and would involve the whole company as there are contracts for rentals, equipment, service maintenance agreements, capital leases, IT contracts, etc.

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In our case, sales and use tax are a must-have. With the recent change and continuous change in tax law, companies find it harder to comply with tax without a system. In our case, managing thousands of customers with thousands of tax codes - city tax, state tax, zone tax - proves to be a challenge. We need a system to minimize any exposure with federal and state tax law, and certainly protect us from an audit.

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• Research
• Chart Creations.
• Help narrow down or identify the exact issue you have.
• Customer Support through the help line.

• They are good at updating the tax tables with all the new sales tax law changes
• They are good at charging the correct sales tax amount as long as the software is set up or configured correctly
• They are good at following up at sales tax correspondences

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• Better outlay of the depreciation section, rather see periods vertically, then horizontally. The periods are difficult to move through when you need to see many months in the past or vice-versa.
• Would love to see an ability to mandate certain fields when creating an asset as every company is different.
• Would love to see each field have the ability to have it's own pick list, and the pick list that does exist needs to be larger to allow for a longer list rather than just 8-10, then the rest are hidden so you have to move to section 2 to see that continuing list.

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• The admin portal needs work - I cannot simply add and remove users, and have to create a case support. I think this is a low-hanging fruit Sovos is working on to resolve.
• The UI could be improved.
• The sync does not always happen instantly and sometime can take up to 24 hours.

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Independently Invited by TrustRadius

A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info

Overall, it is a good value for the money we pay for it, and it helps our tax process.

For the most part, the support team is responsive. However, with the recent switch from a legacy server to S1 server, Sovos created a problem for us. We simply can't upload a tax certificate. I logged a case with support, and they could not help, so they escalate to their senior technician. All in all, it has been more than 7 days, and they could not resolve a "simple" issue.

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I think it is a superior product with more features.

I have used sales tax tables in the past and they are a lot more accurate as long as the configuration is done correctly up front. I have also used Avalara. Avalara has a more consumer friendly interface and better reporting function

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• Allowed for very smooth audits
• User friendly, allows for documentation to be stored, very useful
• Good audit trail to see what happened.

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Independently Invited by TrustRadius

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• It saved us a lot of time and money but eliminating the manpower needed to process manually ourselves
• It helped reduce the time needed to follow up and resolve sales tax correspondences
• It helped reduce costs and time to register in new taxing jurisdications

Incentivized

Independently Invited by TrustRadius

A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info