Global tax software provider Sovos has announced it has acquired TLI Consulting GmBH to significantly advance its value-added tax (VAT) determination capabilities, with immediate benefits for businesses running SAP. VAT determination is one of three pillars of modern tax compliance, and often the first that multinational companies tackle before addressing digital reporting and complex continuous tax controls (CTCs), like e-invoicing. The deal will see Sovos leverage TLI Consulting’s software, consulting services and team to provide continuous and connected solutions for every facet of the digital transformation of compliance.
Sovos’ acquisition of TLI Consulting has immediate potential for a positive impact on customers throughout Europe. In addition to the SAP software extensions upon which it has built its business, TLI Consulting’s expertise and experience will contribute to Sovos’ global tax engine strategy, which is to ensure any customer system can benefit from indirect tax determination, CTC and SAF-T support through a single integration.
Martin Grote, Sovos vice president of European VAT determination and former TLI Consulting director, explained: “As we join Sovos, the TLI Consulting team gains the opportunity to help create the one-stop VAT solutions companies crave, while expanding our reach as part of a global technology leader. We look forward to this next phase and the positive impact it will have on our customers and future customers”.
John Gledhill, vice president of corporate development for Sovos, commented: “As a global organisation with more than 2,300 employees, Sovos will scale TLI Consulting’s software and services business in support of the largest multinational companies with complex business transactions in Europe. With this acquisition, Sovos also establishes operations in Germany and now has employees in 14 countries.”