SaaS technology veteran to lead company as more and more countries mandate e-Invoicing globally, driving adoption of Sovos’ global tax compliance solutions
BOSTON, June 6, 2023 /PRNewswire/ — Global tax software provider Sovos today announced the appointment of Kevin Akeroyd as Chief Executive Officer. Akeroyd joins Sovos from Magnit, where he served as CEO from July 2020, overseeing a multi-billion-dollar enterprise. Sovos has now reached a scale of offering value proposition to enterprise customers unique in the industry: eInvoice and tax compliance in any country from a single API connection. Akeroyd is joining at a time when more and more countries are mandating e-Invoicing and Sovos solutions are becoming widely adopted across multinational enterprises. As part of this transition, current Sovos CEO Andy Hovancik will be assuming the role of chairman of the board.
“Meeting regulatory requirements around the world used to be a tax and finance problem; not anymore. Today, government authorities are heavily invested in technology and demanding information in real-time directly from the source,” said Kevin Akeroyd, CEO, Sovos. “Regulatory concerns are now the domain of IT and having the solutions in place that can deliver what authorities want, when they want and in the form they want is where Sovos comes in. Sovos is the one partner you can count on to provide the confidence that your compliance obligations are being met so that you can focus on your business priorities. I’m looking forward to leading this amazing team.”
Prior to joining Magnit, Akeroyd served as CEO at Cision, taking the company public on the NYSE. Previously, Akeroyd had been a general manager at both Oracle and Salesforce, running category leading business units in cloud software, services and data.
“IT and data management continue to play an increasingly important role in meeting regulatory obligations around the world, an area where Kevin brings a wealth of experience and credibility to Sovos’ growing organization,” said Jonathan Boyes, partner, Hg. “His expertise in navigating the worlds of SaaS technology and global enterprises makes him the ideal person for this position. We are excited to partner with him on the next phase of Sovos growth.”
Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting, and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe and is owned by Hg and TA Associates. For more information visit sovos.com and follow us on LinkedIn and Twitter.