If you are a normal human being, your response to that headline should be “Who bought who?”.  If you are a B2B Commerce nerd, your response might be:  “that was so last month, where have you been?!”  I’ll assume most of you lean towards the former, but I’ll keep it short–just in case!

Invoiceware

Invoiceware is a fascinating, little company that made its name handling VAT-compliant e-invoicing in Latin American countries.  Invoiceware provided software to perform this service for many US-Based multinationals and some domestic Latin American companies.  Latin American countries tend to mandate government-intermediated e-invoicing as a way to ensure business taxes are collected.  (Basically every transaction ends up touching a government server as part of the approval process.  Something the Greek taxation authorities might want to consider!) Invoiceware managed to get a head of many of the big global e-invoicing networks on this regulatory regime and carved out a nice niche apparently appreciated by Sovos.

Invoiceware Sovos Compliance

I had never heard of Sovos Compliance until the Invoiceware deal, but I had heard of one of their products, Taxware, for many years.  Taxware is a leading sales and use tax software package that had been “around the block” in terms of ownership:  First Data, then ADP, and now Vista Equity (in the form of Sovos).  Sovos appears to be a Vista and Hg Capital owned “roll-up” of tax compliance software and service companies– namely the aforementioned Taxware and Invoiceware, plus several additional companies:

  • “the #1 private, third-party filer of 1099 forms in the United States, Convey Compliance Systems”
  • VAT Resource  which “contributes over 10 years international tax expertise, including consulting services and powerful VAT reporting software solutions”
  • “ShipCompliant, the industry leading SaaS compliance and transaction platform for the beverage alcohol industry.” (This one may compete with another company, Fintech (yes, that is company’s name), I have written about here) and finally
  • Taxify, “an SST-certified sales tax automation, reporting and filing tool for small and medium businesses, with unique solutions for e-commerce businesses”

Alcohol and Taxes

In this fiscal environment, selling more efficient ways for companies to comply with tax regulations and for governments to ensure collection seems like a pretty good idea.  Sin taxes, such as alcohol and cigarettes are a pretty sure bet as well.

I love boring, unglamorous, transactional business like this.  They don’t make headlines, but just make money.

Like what you are seeing?

Signup today for free, and receive email notifications about Bob's new insights.

I will not sell or share your information with anyone.

You have Successfully Subscribed!

%d bloggers like this: