PwC transform B2B e-invoicing with Sovos

image of a building with people in every window | Sovos and PwC

Sovos, a global compliance company, has announced a joint business relationship with PwC Ireland, using both organizations’ complementary tax compliance expertise and technology solutions to accelerate e-invoicing and e-reporting implementation.

Purpose-built for modern regulatory environments, Sovos offers support to clients around the world looking to meet their regulatory businesses’ compliance needs. With over 2,600 employees working across more than 14 countries, Sovos offers guidance to over 100,000 customers. Customers looking to upgrade their processes can access support with Sovos’ tax reporting and automation offerings across SAP, NetSuite, Magento and more.

Through this partnership, PwC Ireland aims to boost its tax technology offering by providing value-added services and strengthening client relationships.

Clients of Sovos and PwC can access comprehensive solutions to tackle evolving regulatory hurdles, especially at a time of increasing government mandates across the EU and the rest of the globe.

As more countries introduce e-invoicing and e-reporting requirements, the need for skilled compliance guidance increases. For example, in Ireland, VAT reporting modernization is imminent which is expected to mandate real-time reporting and e-invoicing across B2B and business-to-government transactions.

Additionally, organizations can identify and document client e-invoicing and e-reporting regulatory requirements across multiple markets to create a data system of record for global compliance within the Sovos Compliance Cloud.

Johnny Wickham, tax technology partner, PwC Ireland, said: “By leveraging Sovos’ advanced e-invoicing technology solutions alongside our implementation and technical expertise, we are poised to transform the way our clients manage their e-invoicing processes.

“Our seamless implementation services will facilitate a smooth transition, allowing clients to fully embrace the benefits of automated e-invoicing and e-reporting.”

Kevin Akeroyd, CEO of Sovos, said: “Tax authorities are accelerating the global shift toward e-invoicing and e-reporting because digitization provides accurate, objective data and even the smallest improvement in tracking businesses’ operations can save a country billions of dollars in lost tax revenue.

“Compliance-related digital transformation also benefits business. A singular view into their global compliance posture allows the thousands of multinational companies headquartered in Ireland – and those beyond – to unlock tremendous value from these insights, insights that can fuel business growth.”

This joint business relationship expands the firms’ collaboration, following an earlier agreement between Sovos and PwC Belgium which was announced in March this year.