Name: Sovos Intelligent Compliance Cloud
Rating: 8.1 (5 reviews)
Author: Sovos

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The Sovos Intelligent Compliance Cloud includes tax automation capabilities, including sales and use tax, 1099 reporting, ACA reporting, VAT solutions, and FATCA compliance.

Start-Up

Standard

Premium

LOVAT

Starter

Professional

Sovos Intelligent Compliance Cloud

Tax Compliance

Likelihood to Recommend

Support Rating

Type of tax

Tax Reporting & Compliance

Sales and Use Taxes

Cross-border Taxes

VAT / GST Taxes

Geolocation for Tax Assessment

3rd-Party Software Integrations

Tax Data Reporting

Compliance Administration Management

Tax Exemption Processing

Tax Document Management

Complex Tax Scenario Management

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 is the
first complete solution for modern tax, giving businesses a global solution for
tax determination, e-invoicing compliance and tax reporting. Sovos supports
5,000 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 <a href="http://www.sovos.com/" rel="">http://www.sovos.com</a> and follow us on <a href="https://www.linkedin.com/company/sovos/?utm_source=PRweb&amp;utm_medium=PressRelease&amp;utm_campaign=sap%20concur" rel="">LinkedIn</a> and <a href="https://twitter.com/SovosCompliance?utm_source=PRweb&amp;utm_medium=PressRelease&amp;utm_campaign=sap%20concur" rel="">Twitter</a>.

Sovos

A list of the different types of taxes that can be filed using tax compliance software.

Software is capable of calculating and filing sales and use taxes.

Software is capable of calculating and filing taxes, such as customs, across countries.

Ability to calculate and manage VAT and GST taxes.

Energy and Fuel Taxes

Ability to calculate and manage energy and/or fuel taxes.

Activities relating to tax filing, reporting, document management, and exemption certificate processing.

Ability to use geolocation, which is more precise than zip codes, for mapping taxes to specific jurisdictions.

Pre-built integrations with various systems such as ERP, ecommerce, CRM, invoicing and billing, accounting, and procurement applications.

Ability to export transaction data for tax filing.

Ability to facilitate tax preparation, filing, and tax remittances across local, state, and federal jurisdictions.

Ability to generate, track, exemption certificates from sales invoices.

Collection and storage of tax documents, especially exemption certificates, and ability to retrieve them to use for tax audits.

Ability to automate handling of tax holidays and other anomalies.

Salesforce Sales Cloud

NetSuite ERP

Salesforce Commerce Cloud

Salesforce Revenue Cloud

Senior Accounting Manager

Sovos Intelligent Compliance Cloud (formerly Sovos S1 Platform) 2019-11-14 09:50:28

Microsoft Dynamics AX (discontinued)

Controller

Sovos Compliance 2018-12-05 10:01:41

TrustRadius is a technology and business research firm based in Austin, Texas. The company is known as a review platform for verified B2B technology and software reviews through a proprietary algorithm and human verification.

TrustRadius

Time consuming

Admin portal

Remove users

Sales tax

Easy to use

Integrates seamlessly

New sales

Configured correctly

Home

Tax Compliance Software

We have thousands of clients, so we need to have a solution for tax compliance solutions. Sovos integrates determination, e-invoicing compliance and tax reporting to help us maintain up-to-date compliance. It seamlessly connects with our CRM and ERP systems.

Easy to set up.
Easy to use.
Integrates seamlessly with various CRM and ERP systems.

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.

We can focus on generating revenue and be confident that our sales tax is fully handled by Sovos.
Sovos helps to eliminate any fines/penalties if we face an audit.
Having a system such as Sovos saves on manual and prone-to-error work.

Salesforce CPQ (formerly SteelBrick), Salesforce Commerce Cloud, NetSuite

It was used as our eCommerce sales tax engine and we also used them to file our monthly/quarterly/annual sales tax returns. It was used company wide. It determined what sales tax amount to charge on each of our website orders and then used that data to populate our individual sales tax returns to the appropriate taxing jursidication.

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

The set up of the sales tax engine is very time consuming and detailed. It takes a while to get all of the "rules" set up in the configuration
Integrating the software to eCommerce sites can be long and difficult
Integrating the software to ERP systems can be long and difficult

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

Microsoft Dynamics AX, QuickBooks Enterprise Solutions

Sovos Intelligent Compliance Cloud
Formerly Sovos S1 Platform

Overview

What is Sovos Intelligent Compliance Cloud?