7 FY19 Statistics that Show Where the Beverage Alcohol Industry is Headed

Sovos | October 3, 2019

ShipCompliant by Sovos recently closed the books on our fiscal year, and we’re looking back on the accomplishments of our clients, partners and industry. Since we entered the market, ShipCompliant by Sovos has helped customers pay more than half a billion dollars in tax to states through 1.8 million sales and excise tax reports. Now, we see opportunities for these businesses continuing to grow — right alongside growing compliance challenges.  

Check out these numbers for insight into where the beverage alcohol industry is headed regarding direct-to-consumer shipping, evolving regulations, partnerships and reporting processes. 

Tackling compliance complexities 

In FY19, our customers tracked, automated, organized and simplified compliance processes so they could focus on other aspects of their business, like growing their DtC footprint or getting licensed in new states. To help them get there, our team: 

Driving success through strategic partnerships

Partnerships are a key pillar of the beverage alcohol industry. To further help customers we expanded our industry partnership network and continued to work with and improve our integrations. To deliver seamless experiences, we:

Staying on top of new requirements, regulations and industry trends

With more education and insight into industry trends, evolving regulations and common best practices, the beverage alcohol industry will continue to prosper and grow. We share as much information as we can to help businesses of all sizes industry wide. In the latest fiscal year we:

Sometimes it’s important to take a step back and look at what has been accomplished in order to understand what’s to come in the future. We look forward to seeing what is accomplished in the next fiscal year with our customers, partnerships and industry. As always, we welcome feedback from clients and partners. 

 

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