Sovos Unveils S1 Cloud Platform to Prepare Businesses for Digital Tax Enforcement Globally

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ARPR

Jun 04, 2018, 08:00 ET


BOSTON (PRWEB) June 04, 2018 -- Sovos, a leading global provider of tax software, today revealed its S1 cloud platform, which aims to drive the modernization of tax software in the face of mounting digital disruption from businesses, financial systems providers and governments. This approach includes modern software architecture, an updated development framework and a highly reliable, scalable and secure cloud infrastructure.

“We’ve reached the point in modern taxation where tax enforcement is now embedded in the most important business processes, and that demands a new approach to tax software,” said Sovos CTO John Landy. “Unfortunately, most businesses are still working with technology that was built for an offline world. We’ve built a flexible, connected platform that can keep up with digital business models and meet the demanding standards of modern taxation, regardless of a business’s technology and infrastructure strategy.”

The S1 platform was built to support Sovos Intelligent Compliance Cloud, the world’s first complete solution for modern tax that combines more traditional tax determination and reporting tools for sales and use tax, VAT and other transactional taxes with modern e-accounting and e-invoicing software, which is quickly becoming a global standard. Sovos launched the Intelligent Compliance Cloud last year. It has since acquired three market leaders on three continents, the latest of which was Stockholm-based TrustWeaver, expanding coverage for modern, transaction-level tax enforcement to more than 60 countries.

Connected, Adaptable, Global Platform Reduces Tax Risks and Burdens
The S1 architecture enables Sovos to do the hard work for businesses, keeping all their tax applications and financial systems up to date, while providing access to tools and data through a single user experience. The architecture is adaptable, always connected and built for global businesses, with capabilities that include:

  • Adaptable Rules-Driven Platform – Flexible services make the most important parts of applications available when they’re needed, allowing Sovos to quickly integrate acquisitions and partner applications into solutions worldwide.
  • A Transaction Data Engine – A centralized data warehouse gives businesses a single source of truth for all tax-related data and enables data consumption by multiple applications.
  • Modern, Flexible and Comprehensive APIs – Applications are easily available to companies’ specific financial systems and workflows, enabling business systems to communicate to governments in the unique and changing data formats they require.
  • Regulatory Content Management – The Sovos regulatory analysis team does the hard work for businesses, freeing tax teams from the work required to monitor, interpret and deliver regulatory content into systems.
  • Role-Based, Consumer-Quality User Experience – The S1 user portal provides a single, transparent view into business tax operations and transactions through a user-first design system, giving leaders role-based access to the data they need.

Highly reliable, scalable and secure, S1 is backed by Sovos’ best-in-class data centers and modern cloud infrastructure which provide:

  • Distributed deployment architecture to accommodate all infrastructure strategies
  • Multiple physical data center approach to deliver data where it’s needed
  • 24/7 monitoring with full transparency
  • SSAE SOC 2 Certified facilities with dedicated SCO team
  • ISO 27001 Certified
  • Continuous vulnerability scanning and regular penetration testing


“The S1 platform empowers our diverse global staff to apply their knowledge, skills and strengths at scale to deliver innovative technology,” said Pawel Smolarkiewicz, vice president, chief product officer, Sovos. “Our team and software is uniquely capable of solving the challenge of global tax for our customers today and to keep pace with future demands.”

To learn more about Sovos S1, visit https://sovos.com/s1-platform/

About Sovos
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 combines world-class regulatory analysis with a secure and reliable cloud software platform to create a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports 4,500 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. Headquartered in Boston, Sovos 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.

Cortney Johnston, ARPR, http://www.arpr.com, +1 (855) 300-8209, [email protected]