Global compliance technology solutions and services provider Sovos announced a partnership with EXL, a data analytics and digital operations and solutions company.
This partnership combines Sovos‘ record of accomplishment “in delivering innovative tax software and compliance solutions with EXL’s expertise in consulting and servicing for insurance organizations that want to automate their processes.”
The insurance industry has long grappled “with regulatory compliance and tax management complexities.”
By partnering, Sovos and EXL will “provide their combined expertise to provide comprehensive solutions that streamline processes, enabling insurance companies to focus on their core business.”
This partnership combines Sovos’ proven record of accomplishment in delivering innovative tax software and compliance solutions “that are highly interoperable with other mission-critical ERPs, business processes, and eCommerce platforms; with EXL’s expertise in helping organizations automate core processes.”
As a result, customers will be “able to ensure resiliency, focus on growth drivers, minimize enterprise exposure to risk, reduce complexity in business processes and actively manage global regulatory compliance.”
Key benefits for customers include:
- Compliance: Insurance companies can now effortlessly navigate the complexities of regulatory compliance through a unified platform that simplifies tax reporting processes, reducing the risk of errors and penalties.
- Tax management: Comprehensive suite of tools for sales and use tax management, enabling insurance companies to calculate, track, and manage taxes in real-time accurately.
- Technology: EXL applies data, analytics and digital capabilities with Sovos’ powerful tax solutions, creating an intuitive and user-friendly interface that enhances operational efficiency.
- Support: With the combined expertise of Sovos and EXL, insurance companies will have a dedicated support team that understands the intricacies of the insurance industry and can provide tailored assistance.
Alice Katwan, president of revenue, Sovos, said:
“The partnership between Sovos and EXL is a game changer for customers in the insurance industry when it comes to navigating the complexity of a modern regulatory environment, The combination of Sovos’ compliance and regulatory expertise and EXL’s data, analytics and digital capabilities will help insurance companies solve some of their most challenging regulatory compliance challenges.”
Raghav Jaggi, senior vice president of EXL’s insurance business, said:
“At EXL, we are dedicated to providing services that drive efficiency and innovation. Teaming up with Sovos allows us to take our commitment a step further by addressing the pressing needs of insurance companies in a rapidly changing regulatory landscape.”
