Sonda Software sees growth in tax compliance regulations

- Thursday, February 3, 2011

Sonda Software sees growth in tax compliance regulations

With its two most popular products - fiscal and foreign trade accounting solutions - Sonda Software expects to account for an increasingly larger share of Chilean parent Grupo Sonda's revenues in Brazil, Sonda Software business director Afonso Pietroniro told BNamericas.

Multinational fragrance and flavor company Givaudan became the latest large company to enlist Sonda Software's solutions for complying with revenue reporting requirements in Brazil.

The Brazilian treasury asks more information of businesses filing invoices, Pietroniro said, and therefore is driving demand for Sonda's programs, which complement partner company SAP's enterprise resource planning (ERP) platform.

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"At the moment when you issue an invoice [in Brazil], you have a lot of controls after the emission... For this reason, we have software that complements the SAP system," he said. "And in Brazil specifically, this additional tax reporting software was needed for companies to be able submit all of the mandated items."

Overall, the fiscal and foreign trade software solutions account for 30-35% of Sonda Brasil's some 800mn reais (US$480mn) in total revenues, and Sonda Software's share is growing.

"Across the board, Sonda Software is adding about 5% more per year to Sonda Brasil's total," Pietroniro said.

To read the full interview with Pietroniro, see this week's IT Perspectives, for subscribers only.