#1 most frequent
United States of America
67.3%473 installations of 703
What is Sovos Intelligent Compliance Cloud?
The Sovos Intelligent Compliance Cloud includes tax automation capabilities, including sales and use tax, 1099 reporting, ACA reporting, VAT solutions, and FATCA compliance.
Categories & Use Cases
Top Performing Features
Sales and Use Taxes
Software is capable of calculating and filing sales and use taxes.
Category average: 8.8
Cross-border Taxes
Software is capable of calculating and filing taxes, such as customs, across countries.
Category average: 7.8
VAT / GST Taxes
Ability to calculate and manage VAT and GST taxes.
Category average: 7.2
Areas for Improvement
Tax Exemption Processing
Ability to generate, track, exemption certificates from sales invoices.
Category average: 8.1
Tax Document Management
Collection and storage of tax documents, especially exemption certificates, and ability to retrieve them to use for tax audits.
Category average: 8
Complex Tax Scenario Management
Ability to automate handling of tax holidays and other anomalies.
Category average: 7.5
Who Buys & Uses Sovos Intelligent Compliance Cloud
#2 most frequent
Brazil
5.3%37 installations of 703
#3 most frequent
United Kingdom of Great Britain and Northern Ireland
3.1%22 installations of 703
Sovos Intelligent Compliance Cloud - Yay or Nay?
Pros
- Easy to set up.
- Easy to use.
- Integrates seamlessly with various CRM and ERP systems.
Cons
- The admin portal needs work - I cannot simply add and remove users, and have to create a case support. I think this is a low-hanging fruit Sovos is working on to resolve.
- The UI could be improved.
- The sync does not always happen instantly and sometime can take up to 24 hours.
Return on Investment
- We can focus on generating revenue and be confident that our sales tax is fully handled by Sovos.
- Sovos helps to eliminate any fines/penalties if we face an audit.
- Having a system such as Sovos saves on manual and prone-to-error work.
Other Software Used
Salesforce CPQ (formerly SteelBrick), Salesforce Commerce Cloud, NetSuite
Sovos Sales Tax Review
Pros
- They are good at updating the tax tables with all the new sales tax law changes
- They are good at charging the correct sales tax amount as long as the software is set up or configured correctly
- They are good at following up at sales tax correspondences
Cons
- The set up of the sales tax engine is very time consuming and detailed. It takes a while to get all of the "rules" set up in the configuration
- Integrating the software to eCommerce sites can be long and difficult
- Integrating the software to ERP systems can be long and difficult
Return on Investment
- It saved us a lot of time and money but eliminating the manpower needed to process manually ourselves
- It helped reduce the time needed to follow up and resolve sales tax correspondences
- It helped reduce costs and time to register in new taxing jurisdications
Other Software Used
Microsoft Dynamics AX, QuickBooks Enterprise Solutions