New compliance software firm opens in Taxachussets

Chris Hamblin

25 February 2015

Convey Compliance Systems, Taxware, and VAT Resource have combined forces to form Sovos Compliance. The newly combined company says that it "turns knowledge, backed by trusted global research and deep industry expertise into highly functional, reliable and scalable solutions."

'Scalability' is IT jargon for the ability of some software to take on more and more (or less and less) work while continuing to function accurately. Put another way, it describes how well a piece of software will work when the size of the problem with which it deals increases or decreases.

The firm is offering an end-to-end 'solution' to protect businesses from the regulatory red tape associated with frequent changes in tax compliance. Sovos Compliance purports to provide a comprehensive portfolio of flexible, end-to-end tax and regulatory solutions in:

Sales and Use Tax Determination and Compliance
1099 Tax Information Reporting
Value-Added Tax Determination and Compliance
Foreign Account Tax Compliance Act (FATCA) Tax Information Reporting
Affordable Care Act (ACA) Tax Information Reporting

Before the merger, Convey called itself "the number one private, third-party filer of 1099 forms" and provides software and services to simplify and reduce costs related to tax information reporting. Taxware was best known in the industry for tax research and was the first product-provider to be certified by the Streamlined Sales Tax Governing Board as both a Certified Automated System and a Certified Service Provider. VAT Resource has a 10-year history of supporting international companies with Value-Added Tax for business transactions. Now they operate under one roof.