Sovos Intelligent Compliance Cloud vs ONESOURCE

• 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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• ONESOURCE allows for easy implementation. We were able to implement the product in a few weeks.
• ONESOURCE provides detailed records that provide support for the groupings on the tax return. This will assist in providing documentation to auditors in a timely fashion.

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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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• ONESOURCE absolutely needs to restore their TIN Matching feature. Not having a TIN Matching feature is huge and needs to be addressed immediately.
• The software interface itself is outdated and clunky. It is way behind in terms of user-friendliness and convenience. Additionally, it is only compatible with Internet Explorer. ONESOURCE is literally the only reason I would ever access Internet Explorer which is notably slower and more prone to freezing than Google Chrome or Safari. A good portion of our business uses Macs which means they are SOL on accessing ONESOURCE.
• The ability to look at multiple tax years for a single recipient would be huge. Currently, if a recipient asks us to pull three years of data, this means three different searches within each year's ONESOURCE instance. It's tedious and could be improved.

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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

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• Without the use of ONESOURCE Transfer Pricing, we wouldn't be able to turn out transfer pricing documentation on our own. We have approximately 125 transfer pricing reports a year that require preparation, and outsourcing those at $15-25,000 a piece isn't feasible. We pay less than $50,000 annually for ONESOURCE Transfer Pricing and can now turn out as many reports as we need for a flat fee.
• ONESOURCE BEPS Action Manager ("BAM") allows us to prepare both our Country by Country Report and our Master File in house. We had received quotes from accounting firms in the range of $100-200,000 annually for a Country by Country Report and $50,000 for a Master File annually. For a $20,000 investment annually in BAM, we can complete both in house.

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