Sovos Intelligent Compliance Cloud

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.

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.

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.

For eCommerce sites - make sure to integrate the sales tax engine with both the websites AND your ERP system so that the data written to the sales tax returns matches what you show in sales tax payable. Otherwise you will not be able to reconcile your GL Sales Tax Liability account.