Sovos Earns SIIA CODiE Award for Best Compliance Solution

BOSTON, May 21, 2020 /PRNewswire-PRWeb/ -- Global tax software provider Sovos today announced that its Sales & Use Tax Filing product has been named the Best Compliance Solution of 2020 as part of the annual SIIA CODiE Awards. The CODiE Awards recognize companies producing the most innovative business technology products across the U.S. and around the world. Sales & Use Tax Filing mitigates increased tax reporting risks following the Supreme Court's ruling of South Dakota v. Wayfair in 2018, which requires businesses with nationwide nexus to track and comply with regulations in each of the 12,000 state and local tax jurisdictions in which they do business.

As part of the first global solution for modern tax, Sovos' Sales & Use Tax Filing relieves the burden of new and varying sales tax nexus rules by automating filing obligations on behalf of retailers and direct-to-consumer (DtC) manufacturers. Sovos' award-winning solution enables accurate, efficient management of hundreds of monthly state and local returns and sub-schedules, no matter how often regulations change. As an extension of its mission to Solve Tax for Good®, Sovos is leveraging its filing solution to offer one file-ready sales and use tax return at no cost throughout May 2020 for retailers and DtC manufacturers affected by COVID-19.

"As tax administrations adapt regulations and adopt technology to increase revenue by closing tax loopholes, businesses are increasingly at risk for penalties and fines, and progressively burdened to file more complex returns in more jurisdictions," said Pawel Smolarkiewicz, chief product officer at Sovos. "Sovos' Sales and Use Tax Filing was designed to solve these challenges for our customers. This award affirms the power and precision of our product to do just that, allowing our customers to solve the tax filing burden and thrive."

SIIA President Jeff Joseph said, "Congratulations to this amazing group of 2020 Business Technology CODiE Award winners. These trying times have underscored the importance of innovative technologies like never before. The products and services we honor today connect us to colleagues and customers, ensure business practices move forward, provide new insights from data, and create new jobs and market opportunities. They represent the best of high-impact, outcome-focused innovation."

The SIIA CODiE Awards are the industry's only peer-reviewed awards program. The first-round review of all nominees is conducted by software and business technology experts with considerable industry expertise, including analysts, media, bloggers, bankers and investors. The scores from the expert judge review determine the finalists. SIIA members then vote on the finalist products, and the scores from both rounds are tabulated to select the winners. Judges have selected Sovos as a CODiE Award finalist three times. Sovos bested five other finalists to win the 2020 award.

Find details at https://www.siia.net/codie/Winners-Finalists/2020-Winners/Details/nID/1. For more information about Sovos Sales & Use Tax Filing, visit https://sovos.com/solutions/sales-use-tax/.

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 its secure, scalable and reliable S1 cloud software platform to create a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company 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.

About the SIIA CODiEtm Awards
The SIIA CODiE Awards is the only peer-reviewed program to showcase business and education technology's finest products and services. Since 1986, thousands of products, services and solutions have been recognized for achieving excellence. For more information, visit siia.net/CODiE.

SOURCE Sovos