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EnterpriseFinance

IFS, Sovos Partner to Transform Tax Compliance for Enterprises 

IFS and Sovos, today announced a strategic technology partnership to integrate an indirect tax suite within IFS Cloud, enabling enterprises to streamline, optimize and automate complex tax compliance obligations using real-time data from across the organization. 

Taxation compliance has become an always-on challenge for CFOs and finance leadership teams with worldwide operations. Multi-national companies need to leverage dynamic solutions that use real-time data, available on demand, to meet global obligations and remain agile to keep pace with constantly changing regulatory environments.  

Integrating Sovos’s tax and compliance software with Industrial AI-powered IFS Cloud ERP capabilities provides customers with the ability to automate tax compliance with rules from over 20,000 tax jurisdictions. This will help customers operating globally avoid penalties from late fees, provide continuous transaction control, avoid reputational damage from non-compliance, and maintain always-on compliance wherever they operate. The powerful capability also helps prevent business disruption from cross border transfer of goods being delayed and supports cash flow planning.  

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