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Sovos Intelligent Compliance Cloud

Score8.1 out of 10

5 Reviews and Ratings

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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

Key Features

Learn about the best (and worst!) features Sovos Intelligent Compliance Cloud has to offer, as determined by TrustRadius' reviewers.
Based on 5 ratings of Sovos Intelligent Compliance Cloud's features
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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: 8.2

  • 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: 7.4

Reviews

What users are saying about Sovos Intelligent Compliance Cloud.
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Sovos Intelligent Compliance Cloud - Yay or Nay?

Incentivized
Thanh T. Nguyen, MBAView profile
Senior Accounting Manager in Finance and Accounting at FrontStream (201-500 employees employees)

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

Incentivized
Chris HoslerView profile
Controller in Finance and Accounting at Sun Belle Berries S.A. (51-200 employees employees)

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