Sovos Global Tax Determination .0.0.1 Achieves SAP Certification through the “Co-Innovated with SAP” Program

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Engagement in the “Co-innovated with SAP” program led to a product that allows Sovos to tap into opportunities related to SAP S/4HANA Cloud and address significant market demand for offerings from partners in the tax domain

Sovos' Global Tax Determination .0.0.1 solution has achieved SAP certification

Sovos' Global Tax Determination .0.0.1 solution has achieved SAP certification.

Sovos has made it simple to prepare for the digital future of tax while also migrating their ERP to the cloud

Global tax software leader Sovos announced today that its Global Tax Determination .0.0.1 solution has achieved SAP certification as integrated with SAP S/4HANA® Cloud, as part of the “Co-Innovated with SAP” program. Sovos Global Tax Determination helps customers determine automated, accurate rates for every transaction and in every jurisdiction. By combining value-added tax, goods and services tax, excise tax, and sales and use tax determination support in a single solution, Sovos helps safeguard businesses from error-triggered audits as determination rules change.

Governments around the world are embracing digital transformation to enforce the collection of transactional taxes, putting pressure on companies to get tax right the first time. By putting tax compliance software in the digital financial technology core, Sovos helps businesses that use SAP solutions keep their own digital transformation initiatives moving with a solution built for modern tax compliance.

The “Co-Innovated with SAP” program is designed to help partners through the development lifecycle that culminates in an SAP-certified and tested solution against SAP product standards. It is an end-to-end program of guided services offered by the Partner Innovation Lifecycle Services organization that helps partners take their products to market in close alignment with other SAP teams (product management, solution management, development and field), thereby providing the guidance and support to help ensure a competitive solution in the marketplace. Additionally, the SAP Partner Innovation Lifecycle Services organization has certified that Sovos Global Tax Determination .0.0.1 solution integrates with SAP S/4HANA Cloud using standard integration technologies.

“For our clients that want to transform their approach to tax compliance as part of their move to SAP S/4HANA Cloud, Sovos has made it simple to prepare for the digital future of tax while also migrating their ERP to the cloud,” said Michael Jolton, vice president at NIMBL, a systems integrator.

“Tax authorities change regulations frequently, which increases the complexity of compliance at a time when many companies are engaged in extensive IT modernization efforts,” said Pawel Smolarkiewicz, chief product officer at Sovos. “Sovos helps keep implementations on track with user-centric solutions that simplify real-time tax determination and deliver industry-leading response times, reliability and continuously accurate regulatory analysis and content.”

Nandagopal Prasad, Senior Vice-President and Head of Partner Innovation Lifecycle Services from SAP commented, “The Co-innovation engagement with SAP led to a product that allows Sovos Compliance, LLC (Sovos) to tap into the opportunities related to SAP S/4HANA Cloud and addresses the significant market demand for offerings from partners in the U.S. tax domain. The Sovos Global Tax Determination .0.0.1 solution has been certified for integration with SAP S/4HANA Cloud.”

About Sovos
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 a complete solution for modern tax, giving businesses a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 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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All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

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