Onyx CenterSource, a global provider of B2B payments and business intelligence solutions to the hospitality industry, announced it has partnered with tax software provider Sovos to expand its Onyx’s InvoicePro eInvoicing capabilities.
The European Commission recently approved Italy’s decision to mandate domestic eInvoicing to validate payments and decrease the risks associated with tax noncompliance, and similar mandates are expected to come to Greece, Portugal and Norway, among others.
Launched in 2015, Onyx’s InvoicePro is the only commission payment system that enables hotels and travel agencies to stay compliant with indirect tax legislation for their commission supplies. The company has now chosen Sovos to help it meet the upcoming changes in the compliance sector.
“Sovos’ unique global solution for e-invoicing compliance and its blend of deep legal and technical expertise made it the best-fit partner for Onyx,” Mark Dubrow, Onyx chief executive officer, said in a press release. “Onyx and Sovos will look toward continued expansion of the partnership over time.”
The partnership will provide Onyx with higher levels of security, compliance, automation and support for post-audit compliance, including e-signatures in compliance with the European Union regulatory framework known as eIDAS (electronic identification, authentication and trust services).
“We have seen how companies struggle to keep up with laws around digital signatures, time stamps, secure archiving and similar trust services, and this is a high priority in hospitality as an increasing number of governments in the EU and around the world target VAT fraud,” said Andrew Chi, vice president of global alliances at Sovos. “As the trends in e-invoicing across Europe show, businesses must acknowledge that legal requirements for trust and compliance will continue to evolve and increase. We are the premier partner for compliance as a service, and Onyx’s position at the center of the hospitality market enables us to serve this industry.”