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TrueCommerce Partners with Sovos to Help Businesses Comply with VAT Reporting Requirements
COVENTRY, England & COPENHAGEN, Denmark (March 22, 2023)—TrueCommerce, a global provider of supply chain and trading partner connectivity, integration and omnichannel solutions, announced today it has partnered with Sovos, a global provider of e-invoicing and tax reporting solutions. The relationship will provide TrueCommerce customers with a complete, holistic solution for electronic trading with full supply chain visibility and VAT compliance.
Tax authorities around the world are continuing to impose new requirements to increase controls on the transactions between companies with the purpose of increasing efficiency, cutting costs, and fighting fraud. The constant development in the local requirements for VAT reporting across Europe and globally is creating huge pressure for businesses to keep abreast of new requirements, stay compliant and implement global e-invoicing in a consistent, scalable, and cost-effective manner.
By combining TrueCommerce’s EDI solution for quick, efficient, and accurate exchange of electronic invoices with Sovos’s expertise on the latest e-invoicing compliance regulations and ability to validate companies’ electronic invoices with the local tax authorities, the two key market players are able to offer businesses the best possible EDI and e-invoicing solution with full tax compliance.
“We are excited to partner with TrueCommerce whom we consider a very strong player when it comes to network and supply chain offerings in Europe,” said Christiaan Van Der Valk, Vice President, Strategy & Regulatory at Sovos. ”Sovos leads the market in compliance, but we are not in the B2B network business, so TrueCommerce and Sovos really complement each other perfectly.”
Jakob Vestergaard, Managing Director, Europe, TrueCommerce added, “This relationship is great news for all companies with subsidiaries in multiple countries, especially within Europe, as they need to start thinking about how to automate, centralise, and streamline their processes for meeting the periodic VAT reporting obligations that are inevitably coming their way.”
Additional Resources
• Press Release: TrueCommerce Names Jakob Vestergaard to Lead Europe as Managing Director
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About Sovos
Sovos enables businesses to comply with the latest e-invoicing compliance regulations offering world-class solutions specially developed to cover the full cycle of electronic invoicing, from the sending of the documents for the validation with the tax authorities according to the requirements of each country, receipt of validated electronic documents and sending approvals or rejections of documents of suppliers. Learn more about Sovos: www.sovos.com.
About TrueCommerce
At TrueCommerce, we empower businesses to improve their supply chain performance and drive better business outcomes. Through a single connection to our high-performance global supply chain network, businesses receive more than just EDI, they get access to a fully-integrated network that connects their customers, suppliers, logistics partners and internal systems. Our cloud based fully-managed services help businesses achieve end-to-end supply chain management, streamlined delivery, and simplified operations. With 25+ years of expertise and trusted partnership, TrueCommerce helps businesses reach their true supply chain potential today, while preparing them for the future with our integration-agnostic network. That’s why thousands of companies—from SMBs to the global Fortune 100, across various industries—rely on us. To learn more, visit www.truecommerce.com
TrueCommerce is a registered trademark of True Commerce, Inc. All other trademarks are property of their respective owners.
