Avalara Closes Acquisition of INPOSIA
Avalara, Inc. (NYSE: AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced the closing of the acquisition of INPOSIA Solutions GmbH. INPOSIA is a German software company that delivers e-invoicing, digital tax reporting, and system and data integration to support digital transformation efforts and address real-time compliance requirements for businesses.
The proliferation of real-time compliance requirements from tax authorities around the world arose from the need for financial transparency and fraud reduction. More than 60 countries rely on or have announced the intent to move to an e-invoicing system for compliance, whereby businesses must validate transactions with governments. Exact requirements differ between countries and vary based on timeliness of reporting, types of invoices that need to be filed, value thresholds for reporting, and formatting. Businesses rely on technology to simplify processes along the procurement supply chain and automate the final steps of data and fiscal reporting to tax authorities.
Today, INPOSIA serves more than 500 customers, primarily multinational European businesses. Its embedded technology facilitates data and invoice exchanges between business partners and suppliers. Its e-invoicing solution enables companies to send and receive legally compliant electronic invoices. INPOSIA owns or manages 19 integrations into country-level tax reporting systems and is a certified access point for the exchange of electronic invoices between private companies and public authorities on the Pan-European Public Procurement OnLine (PEPPOL) network.
INPOSIA will build upon Avalara’s existing e-invoicing capabilities in Brazil and India to support customers worldwide with real-time compliance.
“INPOSIA customers seek a more efficient way to manage their compliance requirements, and our suite of integrated, automated tools allows them to build the required data exchange elements into IT solutions they already have in place,” said Muzaffer Havcarci, CEO of INPOSIA. “We share a vision with Avalara to make compliance processes digital and seamless for our customers, and we look forward to working together as the digital compliance mandate continues around the world.”
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