The integration helps organizations provide appropriate tax calculation in both purchasing and sales processes, keeping businesses ahead of increased disparity in tax rules and rates – and safeguards SAP S/4HANA implementations against the increased complexity of real-time tax controls.
BOSTON (PRWEB) February 26, 2019
Sovos, a leading global provider of tax software, announced today that its Global Tax Determination solution for real-time and batch tax determination has achieved SAP certification as integrated with SAP S/4HANA®. The integration helps organizations provide appropriate tax calculation in both purchasing and sales processes, keeping businesses ahead of increased disparity in tax rules and rates – and safeguards SAP S/4HANA implementations against the increased complexity of real-time tax controls.
In an effort to close tax gaps, governments around the world are embracing digital transformation to enforce collection of transactional taxes, putting new pressure on ERPs and associated cloud applications to get tax right the first time. By putting tax compliance software in the digital financial technology core, Sovos is helping businesses that use SAP solutions to keep their own digital transformation initiatives moving by providing a solution that is purpose-built to keep up with the demands of transaction-level tax compliance.
The SAP® Integration and Certification Center (SAP ICC) has certified that Global Tax Determination from Sovos integrates with SAP S/4HANA using standard integration technologies. SAP S/4HANA is the next-generation business suite, built for the SAP HANA® platform, with on-premise and cloud deployment options. It is designed to act as the digital core, helping customers drive digital transformation across their entire organizations, taking advantage of the award-winning, role-based user experience of SAP Fiori®.
“As the digitization of tax raises the compliance stakes worldwide, companies need a complete solution for real-time tax calculation that supports them everywhere they do business and across both their purchasing and selling processes – and one that can keep up as governments implement continuous tax controls,” said Pawel Smolarkiewicz, chief product officer, Sovos. “The certified integration of our Global Tax Determination solution with SAP S/4HANA is the latest milestone in our 20-year partnership with SAP, and it’s an important step forward in our mission to help customers Solve Tax for GoodTM.”
For more information about Sovos’ Global Tax Determination solution, visit https://sovos.com/product/global-tax-determination.
Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern transactional taxes. As VAT and sales and use tax 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 http://www.sovos.com and follow us on LinkedIn and Twitter.
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Christina Dela Cruz on behalf of Sovos