Sovos, the always-on compliance company, and Tungsten Automation, the global leader in intelligent workflow automation solutions, 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.
Also Read: EQT to acquire Europa Biosite for life science products distribution
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.”
SOURCE: Businesswire