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Sovos to launch new tax compliance solution for SAP

Wednesday 2 October 2024 08:08 CET | News

US-based Sovos has launched an end-to-end indirect tax compliance solution for SAP customers, which includes e-invoicing, filing, and reporting.

 

The new Indirect Tax Suite from Sovos works with any kind of SAP environment – ECC and S/4HANA (on-premise, private/public cloud). It is also fully aligned with SAP’s clean core strategy, ensuring businesses can maintain complete and continuous compliance across all tax and regulatory processes without compromising the integrity of their ERP systems. This approach reduces the complexity of tax compliance in their SAP environment, while supporting long-term system stability and scalability. It also helps businesses prepare and meet deadlines for future SAP upgrades — preventing tax challenges from hindering their implementations.

Additionally, as businesses across the globe transition to SAP S/4HANA, the demand for compliance solutions that integrate seamlessly with SAP’s Clean Core principles has never been greater. Sovos is uniquely positioned to meet this challenge, offering the most comprehensive and future-proof Indirect Tax Suite for SAP on the global market.

Sovos Indirect Tax Suite: seamless SAP compliance solution

Global coverage and expertise

Sovos is offering a full suite of indirect tax solutions for SAP customers that cover everything from tax determination (for VAT, SUT, GST across the globe) to e-invoicing for meeting the requirements of continuous transaction controls (CTCs). Unlike other vendors who focus solely on tax determination, Sovos provides end-to-end tax compliance solutions tailored to meet the needs of multinational corporations operating in complex regulatory environments.

Covering countries and tax jurisdictions in North America, Latin America, EMEA and APAC, Sovos’ platform ensures compliance with local tax regulations, offering complete visibility into tax obligations and real-time monitoring across jurisdictions. As a prominent provider of indirect tax solutions, Sovos processes over 16 billion transactions annually, providing businesses with the confidence they need to scale and thrive in an ever-evolving tax landscape.

Preparing for the future with clean core certification

As SAP transitions from ECC to S/4HANA, the importance of keeping the core ERP free from custom modifications is paramount. By adopting clean core principles, businesses can lower their total cost of ownership, reduce technical debt, and simplify future upgrades. Sovos' solutions are designed to operate within this framework, offering a seamless integration with SAP’s core while utilising cloud-based extensions to deliver unmatched flexibility.

Officials from Sovos said that by 2025, they plan to make significant progress in terms of its clean core readiness to ensure a seamless transition for their customers keeping them fully compliant with SAP’s best practices and equipped to handle the complexities of global tax compliance. They believe that tax compliance should be a catalyst for growth, not a burden.

Key benefits of Sovos Indirect Tax Suite:

  • Future-proof compliance: Seamless integration with SAP ECC, S/4HANA and BTP ensures that businesses are fully prepared for upcoming compliance requirements, including SAP’s Clean Core certification process which is scheduled to start in September 2025;

  • Comprehensive coverage: The Sovos platform addresses tax determination, e-invoicing, and e-reporting, offering a complete tax compliance solution in almost 200 countries;

  • Enhanced system performance: By adhering to SAP’s clean core principles, Sovos helps businesses reduce system complexity, lower maintenance costs, and ensure smoother upgrades;

  • Keep SAP project on budget: Sovos ensures customers never meet with unforeseen cash flow changes, compliance penalties, or late payment fees;

  • Expansive Sovos partner network: Sovos collaborates with a global network of partners, including Big 4 firms and Independent Software Vendors (ISVs), to deliver comprehensive tax compliance solutions and ensure a seamless go-to-market experience;

  • Global expertise: With certifications across key markets, including US, Canada, Brazil, India, and the EU, Sovos’ solutions are designed to support multinational corporations navigating diverse tax regulations.


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Keywords: compliance, product launch, expansion, regulation, cloud
Categories: Fraud & Financial Crime
Companies: SAP, Sovos
Countries: World
This article is part of category

Fraud & Financial Crime

SAP

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Sovos

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