LONDON–(BUSINESS WIRE)–Sovos, the 24/7 compliance company, today announced a joint venture relationship (JBR) with PwC Ireland to leverage the complementary tax compliance expertise and technology solutions of both organizations to accelerate the adoption of e-invoicing and e-reporting in the wake of growing government mandates in the EU and around the world. Through this collaboration, PwC Ireland aims to strengthen its tax technology offering by providing value-added services and further strengthen client relationships. JBR expands the collaboration between the two companies following a previous agreement between Sovos and PwC Belgium.
The partnership will provide Sovos and PwC clients with access to comprehensive solutions to expertly address evolving regulatory challenges. As more countries implement e-invoicing and e-reporting requirements, the need for skilled compliance guidance is growing. In Ireland, VAT reporting modernization is imminent, with real-time reporting and e-invoicing expected to be mandatory across business-to-business and business-to-government transactions.
Organisations can automatically identify and document e-invoicing and e-reporting regulatory requirements for their clients across multiple markets, creating a comprehensive global compliance data system of record within Sovos Compliance Cloud.
“By leveraging Sovos' advanced e-invoicing technology solutions and our implementation and technical expertise, we are ready to transform the way our clients manage their e-invoicing processes,” said Jonny Wickham, Tax Technology Partner at PwC Ireland. “Our seamless implementation services will facilitate a smooth transition, enabling clients to fully realize the benefits of automated e-invoicing and e-reporting.”
“Tax authorities are accelerating the global move to e-invoicing and e-reporting because digitalisation provides accurate, objective data and even small improvements in how companies track their operations can save countries billions of dollars in lost tax revenue,” said Kevin Akeroyd, CEO of Sovos. “Compliance-related digital transformation also benefits businesses. With a single view of the global compliance regime, the thousands of multinationals headquartered in Ireland (and beyond) can derive enormous value from these insights that can then drive business growth.”
About Sobos
Sovos is transforming compliance from a business requirement to a growth driver. Our flagship product, the Sovos Compliance Cloud platform, enables companies to identify, determine and report all tax obligations worldwide. Sovos processes more than 11 billion transactions annually, helping companies scale their compliance strategies in 196 countries.
More than 100,000 customers, including half of the Fortune 500, trust Sovos' regulatory expertise and unmatched integration with business applications. Learn more at sovos.com.
About PwC
At PwC, our purpose is to build trust in society and solve important problems. With more than 364,000 people in 151 countries, we are a network of firms committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what you think by visiting www.pwc.com.
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