SOVOS
Sovos tax compliance + e-invoicing LATAM Europe leader.
Definition
Sovos product suite: (1) Sovos Sales + Use Tax (US sales tax calculation Taxify + ECM). (2) Sovos Global Tax Determination GTD (multinational tax engine VAT/GST 60+ countries). (3) Sovos e-invoicing (real-time clearance LATAM Brazil NFe + Mexico CFDI + Chile DTE + Argentina FE, Europe Italy SDI + Spain SII + Portugal SAF-T + France Chorus Pro + Germany XRechnung + Poland KSeF). (4) Sovos VAT Reporting (periodic returns + SAF-T + Making Tax Digital UK). (5) Sovos 1099 (US information reporting). (6) Sovos Insurance Premium Tax IPT. (7) Sovos Beverage Alcohol Compliance. Strategy: LATAM leadership acquired via aggressive M&A 2015-2022 (acquired Brazil Tradeshift + Mexico TaxRSL + Chile Acquired + Argentina), Europe via Saphety Portugal 2021 + Tungsten Network UK 2024 ($88M). Customers globally ~80000+ entities 2024. Ownership: Hg Capital private equity since 2016.
Origin
Taxware founded 1979 ; Sovos formed 2013 via Taxware merger + multiple acquisitions ; Hg Capital majority owner since 2016 ; revenue $400M+ 2023.
Example in context
Brazilian multinational SAP + Sovos Brazil e-invoicing: sales order in SAP ECC, Sovos NFe module generates NFe XML (Nota Fiscal Electronica) layout v4.0, signs via ICP-Brasil PKI certificate, submits to SEFAZ state portal, retrieves authorization protocol + chave de acesso 44 digits, generates DANFE PDF + sends to customer + posts back to SAP order.