As global automation of tax compliance accelerates and moves to the cloud, Sovos strengthens senior leadership team with hire of software veteran Fritz McCormick
September 27, 2017, Wilmington, Mass. — Sovos, a global leader in tax compliance and regulatory
reporting software, announced today that it has appointed Fritz McCormick to the newly created
role of general manager, enterprise sales tax. In his role, McCormick will lead the enterprise sales tax business for Sovos North America, where increased audit scrutiny and frequency, along with a move to cloud ERP solutions, has sparked a new wave of demand for modern tax compliance and reporting software solutions, including the Sovos Intelligent Compliance Cloud. McCormick will also join the Sovos executive leadership team.
The speed and complexity of sales and use tax compliance is outpacing solutions most businesses use to comply. As a result, tax, finance and IT leaders are approaching tax compliance more strategically, implementing modern cloud applications to reduce audit risk, impede rising compliance costs and prepare for the digital future of tax compliance.
“The states continue to put more pressure on businesses through aggressive sales and use tax enforcement, and the addition of Fritz as general manager provides us a strong leader to help our clients navigate through unprecedented change in sales and use tax,” said Sovos President and CEO Andy Hovancik. “We were impressed with his track record of success in building successful go-to-market models through disciplined strategic analysis, planning and product management, and we’re confident he’ll drive innovation in the sales and use tax software market in the coming years.”
McCormick comes to Sovos from Interactive Data (now ICE Data Services) where he led the market introduction of new products focused on the asset management industry, including Avox, a unique data platform, and a variety of fixed income indices as senior director, product development. He has also held senior positions with Aite Group and Omgeo LLC.
“I’m thrilled to be joining such an innovative and talented team at Sovos,” said McCormick. “In this dynamic industry, the potential for further growth is immense, and I’m excited to work with our clients to deliver outstanding value to them and our various partners.”
The Sovos Sales and Use Tax Solution includes Sovos Global Tax Determination, the world’s most accurate sales & use tax determination engine, CertManager, a cloud solution for centralizing and validating exemption certificates and Sales and Use Tax Filing, which automates complex filing scenarios in every U.S. taxing jurisdiction.
Sovos is a leader in global tax, compliance and business-to-government reporting software, safeguarding businesses from the burden and risk of compliance in thousands of tax jurisdictions around the world. As governments embrace technology-driven processes, businesses face increased risk and complexity in an ever-changing regulatory environment. Sovos Intelligent Compliance Cloud offers a proactive approach to tax compliance and reporting obligations that supports productivity, rather than hindering growth. With a 35-year track record of accurate and complete regulatory analysis and a global suite of software solutions, Sovos helps finance, tax and HR professionals in 4,500 companies, including half of the Fortune 500, stay ahead of complex and fast-changing government regulations. The company’s compliance platform integrates with a wide variety of business applications, providing the control and visibility required to manage global tax compliance activities. Based in Boston, Sovos has offices throughout North America, Latin America and Europe. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.