Sovos Partners with Tungsten Automation to Deliver Breakthrough Compliant Accounts Payable (AP) Solution
The partnership combines the Tungsten Automation Platform with Sovos' Tax Compliance Cloud to create a comprehensive solution for intelligent invoice automation and global tax compliance. The combined solution supports both paper and PDF invoice capture using OCR and AI-powered technology for advanced document processing and connects seamlessly with supplier portals while integrating with ERP and procurement systems. It provides global tax determination and ensures real-time compliance with e-invoicing regulations. This seamless approach reduces manual effort, accelerates processing times, and ensures multi-national organizations remain compliant with evolving global mandates - unlocking operational efficiency, audit readiness, and peace of mind at scale.
Addressing a Critical Market Need
Traditional AP workflows remain manual, error-prone, and disconnected from tax compliance requirements, resulting in operational inefficiencies, higher costs, and significant compliance risks. With new global tax mandates such as VAT in the Digital Age (ViDA) and Continuous Transaction Controls (CTC) taking hold, companies can no longer treat AP automation and tax compliance as separate initiatives. Businesses need invoice agility across all platforms and systems.
"The convergence of AP automation and tax compliance isn't just an operational advantage, it's become a business imperative," said Peter Hantman, CEO, Tungsten Automation. "Our partnership with Sovos addresses a critical C-Suite need in how enterprises approach their financial workflows. By integrating our proven automation capabilities with Sovos' comprehensive compliance expertise, we're delivering a solution that transforms AP from a cost center into a strategic advantage."
Seamless Integration Delivers Unprecedented Value
The Compliant AP solution works through five integrated stages:
Invoice capture & data extraction: Tungsten's AI-powered OCR technology extracts data from any invoice format with intelligent validation
Automated invoice matching & workflow routing: Automated matching against purchase orders and goods receipts within SAP systems
Integrated tax determination & compliance validation: Sovos provides real-time tax determination at both the network and SAP stages
Seamless ERP posting: Validated invoices are automatically posted to SAP with complete audit-ready documentation
Real-time reporting & analytics: Comprehensive visibility into invoice status, AP cycle times, and tax liabilities
"This partnership represents the evolution of tax compliance from a reactive business requirement to a proactive growth enabler," said Kevin Akeroyd, CEO, Sovos. "By combining our deep tax expertise with Tungsten's automation leadership, we're not just solving today's compliance challenges, we're futureproofing our customers' operations against an evolving global regulatory landscape. This is exactly the kind of integrated innovation that transforms how businesses operate."
Proven Partnership Built on Operational Success
This strategic alliance builds upon a long-standing relationship between the companies, with Sovos previously serving as the embedded tax compliance engine within Tungsten's platform. This new agreement formalizes a partnership that has been tested and refined through direct customer feedback and operational success.
The solution offers unprecedented flexibility as a source system-agnostic platform that connects as a 'last mile compliance partner' to existing infrastructure without requiring system replacement. Companies can implement the joint solution without operational disruption while achieving up to 90% touchless processing, reducing 70% costs in audit or compliance-related penalties, and cutting per-invoice costs from approximately $10 to less than $2.
Market Impact and Customer Benefits
Key benefits of the integrated compliant AP solution include:
Elimination of manual AP workflows with 90%+ touchless processing
Guaranteed tax accuracy through integrated validation
Dramatic reduction in AP processing costs
Improved cash flow through faster, more accurate processing
ViDA compliance readiness for evolving EU mandates
Reduced implementation risk with proven solutions from established market leaders
Deployment flexibility that adapts to existing systems without disruption
About Tungsten Automation
Tungsten Automation, formerly Kofax, is the global leader in intelligent workflow automation solutions with a trusted legacy of 40 years, with a team of 2,200 employees in 32 countries, serving 25,000+ global customers. Our commitment to innovation and customer success has earned us industry recognition, including being named a Leader in Intelligent Automation, IDP and Process Orchestration by key analysts. We are trusted to help businesses gain unprecedented efficiencies and reduce costs through workflow automations that will propel their businesses into the future.
About Sovos
Sovos is transforming tax compliance from a business requirement to a force for growth. Our flagship product, the Sovos Tax Compliance Cloud platform, enables businesses to identify, determine, and report on every tax obligation across the globe. Sovos processes 16 billion+ transactions per year, helping companies scale their compliance strategy in almost 200 countries.
More than 100,000 customers -- including half the Fortune 500 -- trust Sovos' tax and regulatory expertise and unparalleled integration with their business applications. Learn more at sovos.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
17 hours ago
- Forbes
The Hidden Power Of Questions In The Age Of AI
Bob Pearson , Chair, The Next Practices Group. getty When a child learns to speak, they pepper us with questions—an instinct rooted in survival. In 2013, a British study of 1,000 mothers found that children asked their parents more than 300 questions per day at an hourly rate that rivals the pace of the Prime Minister's Questions time. Questions help us navigate life and our roles within organizations—clarifying expectations, accelerating learning, building relationships and managing risk. To understand how questions help cut through complexity, consider Shannon's Theorem, which was created by Claude Shannon, the father of information theory. The theorem offers an equation for how much data can be sent across a communications channel in the presence of noise. Shannon was working at Bell Labs, so he was mainly focused on channels like a telephone line or a radio band. At organizations today, however, we still need to understand how to eliminate the noise that distracts us as we toil away on our projects. This is the role of questions: to help us focus. Understanding which questions to ask at a given time point helps reduce uncertainty, which is fundamental to how we utilize machine learning, decision trees and the field of data science. This ability to ask the right question—especially as AI becomes central—isn't just a technical skill but a foundational one. The Value Of Questions Within Organizations If we know which questions to ask at each key point for a given task, we can increase knowledge and reduce uncertainty. Relevant questions help us shape workflow, meet customer needs, teach teams and build trust. Of course, being human can also be our biggest obstacle. Too often, we stifle questions, prioritizing output over whether work is done optimally or scalably. So, what is the importance of questions within organizations, and why do we need to improve how we use them? To start, questions can lead to new information, frame a problem or check our own bias. Questions can just as easily unlock innovation as they work their magic to keep us on track, so we scale workflow efficiently. Imagine two scenarios. In the first, you are leading an SAP transformation project for a Forbes 2000 company that will exceed $300 million in cost and occur over three years. Your job is to make it happen on time and on budget. If you break down your project, you have 12 workstreams and 100 individual tasks per workstream. That is 1,200 different time points where you want to ensure your team understands what to do, how to handle unforeseen issues and accomplish each task. Email, teams and spreadsheets are not enough. Now, imagine your friend leads the development of a new drug in BioPharma. She said she has 60 key decision points in discovery/preclinical, 20 for an Investigational New Drug submission and 40 for Phase 1 trials. Getting a new drug into the clinic has 120 key decision points. In each case, we can proactively identify the top five questions that align with each decision. As your team gets ready for each decision point, they look at the five questions to ask themselves and their team. Did they address a certain problem? Did they categorize the expense associated with this action? Do they have a reason to believe this action could be improved? This process of structured questioning is incredibly powerful, but also time-consuming. That's where AI enters the picture. How AI Can Shape Question Asking The subject matter experts of the world are the heroes here. They have been there, done that and know what questions to ask at each point. AI can then supplement their knowledge to create a detailed list of questions for every decision point. As the user touches any point on the SAP transformation, the key questions to address will appear. Those questions will be linked to background information, and questions answered by other project members will become available, as they apply to that particular task. Now, questions are a quality check and a way to contribute to the enterprise workflow. It's a team sport. AI is ensuring that knowledge gained anywhere in the world is being shared precisely to the right time points in a project in real time. AI platforms can learn, in real time, what questions are most effective, what answers are most important and what type of backup information helps teach, educate and answer our questions. Questions and content can be translated into any language, enabling ideas to emerge from anywhere. To achieve this vision, we need to adjust a fundamental habit that drives us today. Ever since Google first set sail in 1998, we have been conditioned to write a few keywords or phrases, so our questioning ability is rusty. Now, with generative AI, we must flex our 'question muscles,' as we realize that the value of information we receive is dependent on our ability to ask the optimal question. This emerging skill—known as prompt engineering—is critical for tapping into AI's full potential. Keep in mind that our effective use of generative AI will help us mirror our own intelligence. Conclusion We start life as curious humans. We should never let that trait dissipate. Our job, with AI, is to remain as curious and disciplined as we were as toddlers. We are just now applying this approach to major global projects. A map of questions for each decision point. An AI back end to share answers and related content. The ability of any team member to contribute to the knowledge of the enterprise. Exploring the effective use of AI is more important than lamenting on what jobs will go away. What is required? Pretty simple. We need to change our habits and approach as we embrace the advances of AI. The 'curious companies' will complete that SAP transformation for $200 million and a year earlier, or they will create a more effective clinical trial design of a new treatment, based on a new style of learning and scaling. The question we are left with is, when do we make this a reality? Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?
Bloomberg
19 hours ago
- Bloomberg
How SAP Became Europe's Most Valuable Company
A tactical pivot into artificial intelligence and cloud computing helped German software company SAP SE rise to become Europe's most valuable company. Bloomberg's Tom Mackenzie sits down for an exclusive, extended interview with Chief Executive Officer Christian Klein at SAP's headquarters in Walldorf, Germany. Bloomberg Tech: Europe spotlights the biggest names and trends shaping the region's technology ecosystem as the global competition heats up. This monthly, 30-minute 'magazine-style' show features in-depth interviews with top technology leaders, as well as major investors and policymakers - giving you a compelling A to Z of the most consequential innovations, opportunities and challenges. (Source: Bloomberg)
Bloomberg
21 hours ago
- Bloomberg
SAP CEO: Europe Doesn't Need More Data Centers
The CEO of SAP, Christian Klein, says there is "not so much demand" for data centers in Europe, and that the continent should focus on winning the artificial intelligence software race. He speaks to Bloomberg's Tom Mackenzie at the software company's headquarters in Walldorf, Germany. (Source: Bloomberg)
