Tungsten Automation is partnering with Sovos to deliver a new accounts payable (AP) solution designed to address the business need for seamless integration between AP automation and indirect tax compliance. The vendor also recently announced the appointment of Peter Hantman as its new CEO.
The partnership with Sovos 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 optical character recognition (OCR) and artificial intelligence (AI) powered technology for advanced document processing and connects seamlessly with supplier portals while integrating with ERP and procurement systems.
Meanwhile, Hantman takes on the role of CEO following his promotion from president and chief operating officer. He succeeds former CEO Reynolds C. Bish, who will continue to serve the firm in his newly appointed role as executive chairman of the board.
Addressing a critical AP market need
The AP solution provides global tax determination and ensures real-time compliance with e-invoicing regulations, according to a press release. This streamlined approach minimizes manual work, speeds up processing and helps multinational organizations stay compliant with changing global regulations, delivering greater operational efficiency and audit readiness at scale.
Traditional AP workflows remain manual, error-prone and disconnected from tax compliance requirements, resulting in operational inefficiencies, higher costs and significant compliance risks, Tungsten Automation said. 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 Hantman. “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.”
The compliant AP solution works through five integrated stages:
- Invoice capture and data extraction: Tungsten’s AI-powered OCR technology extracts data from any invoice format with intelligent validation.
- Automated invoice matching and workflow routing: Automated matching against purchase orders and goods receipts within SAP systems.
- Integrated tax determination and compliance validation: Sovos provides real-time tax determination at both the network and SAP stages.
- Seamless ERP posting: Validated invoices are automatically posted to SAP with complete audit-ready documentation.
- Real-time reporting and analytics: Comprehensive visibility into invoice status, AP cycle times and tax liabilities.
“This partnership represents the evolution of tax compliance from a reactive business requirement to a proactive growth enabler,” said Kevin Akeroyd, CEO of Sovos. “By combining our deep tax expertise with Tungsten’s automation leadership, we’re not just solving today’s compliance challenges, we're futureproofing our customers’ operations against an evolving global regulatory landscape. This is exactly the kind of integrated innovation that transforms how businesses operate.”