Latest news with #SAP
Business Wire
16 hours ago
- Business
- Business Wire
Sovos Partners with Tungsten Automation to Deliver Breakthrough Compliant Accounts Payable (AP) Solution
ATLANTA & IRVINE, Calif.--(BUSINESS WIRE)-- Sovos, the always-on compliance company, and Tungsten Automation, the global leader in intelligent workflow automation solutions, today announced a strategic partnership to deliver a truly integrated compliant AP solution. This collaboration addresses the critical business need for seamless integration between accounts payable automation and indirect tax compliance in an era of increasing global regulatory complexity. 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
Yahoo
17 hours ago
- Business
- Yahoo
SAP SE (SAP) Wins Early Court Decision in Celonis Antitrust Trial
SAP SE (NYSE:SAP) is among the 13 Best German Stocks to Invest in Now. The company recently won an early round in a high-profile lawsuit filed by Celonis, a leading European startup, accusing the tech giant of allegedly monopolizing parts of the business software market. A data centre room with cloud technology, illustrating the enterprise application software services. According to Bloomberg, a San Francisco federal judge on June 30 dismissed the antitrust claims from Celonis regarding SAP SE (NYSE:SAP) restricting access to data in its enterprise software systems in a way that disadvantaged competitors and favored its own Signavio unit. However, the judge has allowed Celonis to amend and refile the claims. A Celonis spokesperson has indicated the company would revise the claim and will add further details to strengthen its case against SAP SE (NYSE:SAP) allegedly wielding its market power. SAP SE (NYSE:SAP) denies the allegation. Following the recent court hearing, the company reiterated that it would continue to reject the claims and defend its products and business practices. While we acknowledge the potential of SAP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Goldman Sachs Stock Portfolio: 10 Large-Cap Stocks To Buy and 13 Best Big Name Stocks to Buy Now. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
18 hours ago
- Business
- National Post
Rimini Street to Report Second Quarter 2025 Financial Results on July 31, 2025
Article content LAS VEGAS — Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced it will report earnings after market close on July 31, 2025. The company will host a conference call and webcast on that date to discuss the second quarter 2025 results and the 2025 outlook at 5:00 p.m. Eastern / 2:00 p.m. Pacific time. Article content A live webcast of the event will be available on Rimini Street's Investor Relations site via the Rimini Street IR events link and directly via the webcast link. Dial-in participants can access the conference by dialing 1-800-836-8184. Article content Article content A replay of the webcast will be available for one year following the event. Article content About Rimini Street, Inc. Article content Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider and achieved better operational outcomes, realized billions of US dollars in savings and funded AI and other innovation investments. To learn more, please visit and connect with Rimini Street on X, Facebook, Instagram, and LinkedIn. (IR-RMNI) Article content © 2025 Rimini Street, Inc. All rights reserved. 'Rimini Street' is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein. Article content Article content Article content Article content Article content Contacts Article content Article content Dean Pohl Article content Article content Rimini Street, Inc. Article content Article content Article content Article content Article content Rimini Street, Inc. Article content Article content Article content
Time Business News
19 hours ago
- Business
- Time Business News
Secure Solution with Kagool
SAP data migration recovery is as important as its importance can be applied to any company that changes systems or centralizes systems. Although successful migrations can lead to better data quality and operations efficiency, the risk of data loss, corruption or system shutdown emphasises the need for a strong SAP data migration recovery approach. It's not just moving files, it's about maintaining their accuracy, integrity, and traceability. Without a distribution recovery, a small mistake can be very costly, both in dollars and in lost time. Minimal downtime during migration activities Original Data Recoverable in Event of Failure Guarding from risk of non-compliance and audit misses Seamless Service in Live Production You can count on. SAP migration projects, even when properly executed, carry a variety of risks – particularly with legacy systems and third-party integrations. Issues that may arise include: Incomplete mapping of data or misalignment of fields Corrupt data was given during ETL (Extract Transform Load) Backward/Forward compatibility between SAP old and new SAP system versions Accidental overwriting or deletion of master records To minimize interruptions and data integrity issues, the following are the critical components of a comprehensive SAP data recovery solution: Prior to any other activities, a complete backup of all important data should be made. Automated rollback facilities assist in rolling back in the event of migration failure. Real-time monitoring and validation tools help you detect issues can be signaled instantly enabling teams to act before the performance of the system is affected. It's vitally important to have a complete log of every migration step and change (including failures). These not only help to diagnose but as well support governance and regulatory compliance. Data should be validated against business rules to confirm data consistency after migration. Both pre-migration and post-migration validations are necessary to validate that data being loaded is as expected. Businesses that are tasked to manage large-scale data require recovery solutions that can keep pace with their business growth. Whether you're migrating between SAP S/4 HANA systems, or migrating from ECC, you need flexibility and automation to handle complicated situations. Cloud-based replication, near-zero downtime services, and sandbox testing environments are some of the few that ease the transfer for IT's and ensure quick recovery. SAP data is often highly sensitive in nature such as financial data and customer information. An effective recovery framework includes: Encryption during data transfer Role-based access controls Compliance with Privacy laws (including GDPR) Secure decommissioning of legacy environments So, don't make a data migration mistake that puts you at risk for fines, litigation, and damage to your reputation. A well-architected recovery plan goes beyond just reducing risks, it adds to the overall value proposition of the SAP migration process: Enhances trust in system changes Reduces manual intervention during errors Speeds up post-migration validation Ensures a consistent user experience Strengthens the IT governance model Kagool delivers bespoke SAP services, covering data-migration lifecycle stages from pre-migration assessment to execution and recovery planning. Leveraging experience in large-scale transformations, Strativa enables enterprise clients to realize smooth, safe, and compliant migrations. SAP Data Migration is a key point in the business system's modern appeals. But when you do not have a good recovery plan, it can leave your operations vulnerable to unnecessary risks. A sound and scalable SAP data migration recovery strategy helps protect your data, maintain business continuity and increase confidence in digital transformation. Now you can discreetly plan for your next migration. Talk to an SAP data recovery specialist at Kagool today, and find out how you can keep your business' most important data safe throughout the migration process. TIME BUSINESS NEWS
National Post
20 hours ago
- Business
- National Post
New Strada Report Finds Nearly 40% of Businesses Are Still Dependent on Ageing HR Systems as Cloud Migration Becomes Critical
Article content Article content MIAMI — In a climate where speed, agility, and resilience are essential, too many organisations are still relying on outdated on-premise HR and ERP systems – and the cost of inaction is mounting. New global research from Strada reveals that nearly two in five companies continue to operate on on-premise platforms such as Microsoft Dynamics (20%) and SAP (19%), despite looming end-of-life support deadlines that significantly raise the risk of disruption. Article content With SAP's mainstream support for ERP Central Component (ECC) ending in December 2025, and Microsoft Dynamics GP following by 2029, Strada's new report The cost of standing still: Why ignoring cloud ERP could harm your business exposes the growing gap between business ambitions and operational realities. Despite clear goals to modernise, adopt AI capabilities, tighten cybersecurity, and enhance the employee experience, many organisations remain stuck. For most, the shift away from legacy infrastructure feels too complex or costly to act on now. Article content ,' said Article content Organisations delaying migration are not only facing rising costs, but also reduced support as on-premise systems are phased out. This leaves them exposed and unable to capitalise on the opportunities ahead – from AI and data-driven insights to improved employee experiences.' Article content While 36% of global businesses have prioritised efficiency and productivity, and 35% are focused on realising technology value, many are still struggling to act. Budget constraints (42%), integration complexity (42%), and resistance to change (33%) remain significant barriers – particularly in large organisations where fragmented legacy environments and decision-making siloes slow progress. Article content At the same time, a clear disconnect exists between strategic leadership and frontline users. While 92% of C-suite leaders rate their current HR systems as effective, only 63% of frontline employees agree – and just 14% feel their systems support career progression. This gap highlights a critical issue: those making technology decisions are often out of step with the needs of the people expected to use the systems daily. Article content While many organisations are still suspending change, those that have embraced cloud migration are already reaping the benefits. Just 20% of respondents reported smooth payroll operations before migrating to the cloud. After deployment, that figure jumped to 55%, underlining the value of decisive action and the real operational improvements possible. Article content The case for cloud-based HCM and ERP systems continues to grow. Organisations are increasingly driven by the need for integrated AI, real-time data visibility, scalable infrastructure, stronger security, and compliance with evolving regulations such as the Corporate Sustainability Reporting Directive (CSRD). Article content 'Businesses don't have the luxury of time anymore,' Article content said Article content Johan Bosschaerts, Head of Product and Technology at Strada Article content . 'Delaying migration means relying on systems that weren't built for today's demands. Modern cloud platforms provide a foundation for increased resilience and innovation, enabling organisations to capitalise on AI capabilities while ensuring stronger cybersecurity and easier compliance. By doing so, IT teams are empowered to transition from reactive, technical problem solving to proactive management, driving business imperatives and real progress.' Article content As organisations face end-of-life deadlines for legacy systems and mounting pressure to modernise, the imperative is clear: cloud migration is the gateway to innovation. Cloud platforms deliver real-time insights, integrated AI capabilities, robust security protocols, and compliance with evolving regulations. Acting now not only mitigates operational risks but also positions organisations to capitalise on future opportunities. To access the full report, visit Article content About Strada Article content Strada is a people, payroll, and technology leader that simplifies international workforce management. Across 180 countries, Strada designs and delivers people first solutions powered by cloud-based technology that help organizations grow and enable workforces to perform at their best. To learn more, visit Article content Notes to editors: Article content The findings referenced are based on independent research commissioned by Strada and conducted by CensusWide. The survey was carried out between 19 – 28 February 2025, polling 1,212 professionals working in Finance, HR, or IT departments at companies with 1,000 or more employees. Respondents were based in the United States, United Kingdom, France and Germany and included a mix of C-suite leaders as well as a mix of respondents from various seniority levels. Article content Article content Article content Article content Article content Contacts Article content Media contact Article content Article content Article content
