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Vertex – Indirect TaxDeloitte – Automating the VAT Return Process Seminar7 May 2015Follow us at #VertexExchange
Agenda & Solution Overview§ Introduction§ Vertex Indirect Tax Returns Reporting and Compliance§ Vertex O Series for Indirect Tax Global Tax Calculation system§ Automating Indirect Tax Tax Data Management through Vertex Enterprise3§ Q&AFollow us at #VertexExchange
Introduction
Vertex – The Standard in Tax Technology§ 30-year history in tax management andtechnology§ Global solutions for Indirect Tax§ Over 4,000 software installations worldwide§ Focused exclusively on tax technology andcontent5Follow us at #VertexExchange
Vertex Indirect Tax Returns
Vertex Indirect Tax Returns§ Global Returns Platform Over 1,100 licences Well Established and Stable Supports Returns and E-file§ Monthly Updates§ Global Licence Options§ Multiple Deployment OptionsFollow us at #VertexExchange7
Statutory Returns§§§§§§§VAT Return ReplicasESLs and IntrastatsLine-By-Line Drill ThroughMulti-Language ReturnsCulture SupportFiling Reports with CSV CreationE-File Support (see Roadmap)Follow us at #VertexExchange8
Roadmap§ Countries Added Quarterly (around 60 countries supported by end of 2015)§ Additional Information Reports§ E-File capabilities Planned rollout of mandated countries Delivery provided through monthly updates§ Additional Enhancements Driven by CustomersFollow us at #VertexExchange9
User Security§ SQL Server Authenticated accounts§ Role-Based SecurityFollow us at #VertexExchange10
Managing User RolesFollow us at #VertexExchange11
Importing Data – O Series§ Pre-Configured Export§ Minimal Mapping in Returns§ Pure End-to-End Content is SynchronizedFollow us at #VertexExchange12
Importing Data – Other Sources§ Two Import Types New Records Update Existing RecordsFollow us at #VertexExchange13
Importing Data – Customize§ Rules – Simple Field-Specific Overrides§ Scripts – Allows Complex Code§ Filters – Removes Unwanted DataFollow us at #VertexExchange14
Import Scripts§§§§§§§User created C# code - script code executes during import processScripts control movement of data into systemScripts perform transformations/validationsSimilar to Tax Assist in O SeriesScript development and maintenance will probably fall on a technical resourceUse Security to control user access to scriptingScripting guide (API guide) and Development environment available on requestFollow us at #VertexExchange15
Tax Data§ Invoice-Level Details§ Customisable Multi-Attribute Data Queries§ Additional Spreadsheet FilteringFollow us at #VertexExchange16
Administration of Returns§ Administrator applies monthly updates Apply to both the program files and databasesSupplied from the myVertex website at months endContains improved functionality and new Research contentProvided tools fully automate the monthly updatesOne Global update§ Automate client update: Auto update is built into application Ability to deploy updates on Active Directory using MSI§ Updates are continuous. No annual roll over or reinstall !Follow us at #VertexExchange17
Follow us at #VertexExchange
Follow us at #VertexExchange
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The Tax Engine – Vertex O Series
Why Vertex O Series?§ Ensuring upstream coding quality and consistency§ Moving away from: Manual Processes– ERPs/Finance Systems/eComm platforms embedded with little or no tax content– Tax rate (and TaxCode) need to be set-up and maintained– Selection of TaxCodes in ERPs Risk of error, lack of consistency; turnover of staff; training/manuals/flow-charts, etc.Shared Service Centres/outsourcing of AP functions Lack of local knowledgePaid to process AP invoices§ External Pressures Greater scrutiny [internal and external]– SOX, SAO, horizontal monitoring, co-operative compliance– Process, process, process– Visibility and opennessFollow us at #VertexExchange27
What is Vertex O Series?Vertex O Series is:§ A tax calculation engine for globalindirect taxes ‘VAT’– Input (Procurement)– Output (Supplies) Complex Indirect tax systems– India; China; US; Brazil, etc.§ A system that interfaceswith Financial Systemsto process appropriate VATFollow us at #VertexExchange§ A data repository containing: Tax Jurisdiction codesPlace of supply rulesGST/VAT/Indirect Tax ratesTaxability rules per category§ A range of reporting tools togenerate: Statutory Reports Analytical and underpinningreports28
Vertex O Series OverviewFinancial System (ERP)/eCommerce etc14RequestResponseExternal Interface2TaxGIS [Jurisdiction ID]3VertexCentralTax Calculation5TaxGISTPSRates RulesFollow us at #VertexExchangeTax JournalOther datasourcesTax Professional Administration Configuration Tax WorkbenchVertexO SeriesReportingDatabase6Vertex Returns29
Vertex Indirect Tax Accelerator for SAP ERPSAPSAP ECCSAP TaxLink Area“Vertex Indirect TaxAccelerator for SAP”Vertex delivered SAP ABAPTransportFollow us at #VertexExchangeVertex OSeriesVertex SICEnhancedSAP RFCDataSAP InterfaceComponent(SIC)VertexXMLTax ServiceEngine(Calculation andJurisdictionIdentification)SIC 7.0SalesVATCUT30
Vertex O Series Tax Links For E-Business SuiteOracle ApplicationsSalesCRMOMARSVCPB§ Creates standardset of APIs basedon Oracle financialevent§ GeneratesWF NotificationsPurchasesPOEB Tax Interface§ Defines TouchPoints w/OracleINVAPPCFA§ ExtensibleAttributesVertex Interface§ Translates EB Taxinterface data toVertex specificrecord formats§ Calls the Vertex taxpackages toperform a C)XMLRequestXMLVertexO SeriesTaxEngineResponse§ Populates resultsinto APIs for EB Taxconsumption.Vertex Tax Links ClientExtension§ Sourcing Rules (Company,POA, Ship-To, Ship-From,Product, Tax Type, etc.)§ Configuration Preferences &Process OptionsFollow us at #VertexExchange31
Embedded Global Content§ Strong internal content maintenance processes SSAE16 process covers content and content process – providedby reputable organisation Dedicated research team Content relationships built directly with major expert networks and to the taxauthorities Changes tied-back to legislation, gazettes, authority announcements, case law, etc. Commitment to ongoing content developmentFollow us at #VertexExchange32
Tax Data Management
Tax Data ManagementMultiple systems, reliance on manual processes, and thousands of man hours to adjust and tax-enrich the data.Follow us at #VertexExchange34
Vertex EnterpriseVertex EnterpriseFollow us at #VertexExchange35
Vertex Enterprise with Deloitte AnalyticsFinancial SystemsBusiness / Corporate / Shared ServicesCore VAT Return ProcessSAPOperational Reporting - HindsightVertex O seriesOtherVertexEnterprise Insights (VAT position -General Ledger)VAT determinationPartial Exemption CalculationTrend AnalysisVAT testsEnrichDataDeloitte VAT Data AnalyticsAdvanced Reporting – ForesightManualRecords Follow us at #VertexExchangeSupply Chain AnalyticsScenario Planning (supply chain – business model)Integration with other taxes (transfer pricing,customs)
Contact Information§ Alan James, Director, Client Solutions Telephone: 44 208 622 3890 Email: alan.james@vertexgts.co.uk§ Andrew Hallsworth, European Manager, Client Solutions Telephone: 44 208 622 3526 Email: andrew.hallsworth@vertexgts.co.uk http://uk.linkedin.com/in/andyhallsworth/§ Mike Tomlinson, Account Executive Telephone: 44 208 622 3903 Email: mike.tomlinson@vertexgts.co.ukFollow us at #VertexExchange
Vertex Interface § Translates EB Tax interface data to Vertex specific record formats § Calls the Vertex tax packages to perform a service § Populates results into APIs for EB Tax consumption. Vertex Supplied Oracle Integration Component (OIC) Vertex Tax Links Client Extension § Sourcing Rules (Company, P
