Transcription
1
PresentersSarah FaneHead of ContentsharedserviceslinkPeter BoerhofVat DirectorVertexRoger LindelaufBusiness DevelopmentDirectorVertex
Questions Send me your question earlyUse this opportunity to get the answers/info you seekThe sooner you send me the question, the more likely it will be askedRemember to stay on for Q&A in the last 10 minutes of the session
Your copy of the slidesThe slides will be availableafter the webinar atwww.sharespace.digital
Context and AgendaIndirect tax teams have enormous accountability, and often don’t get the attention they need. They areoften overloaded with burning issues and stretched thin.Despite being an essential part of any business, processes, operations and ERPs are not built with VAT frontof mind. In addition, compliance rules are evolving at a dizzying pace. It can be easy to feel like you are beingreactive and always playing catch-up.In this webinar we will explore how VAT teams can regain control and simultaneously improve their VATprocesses. The main challenges of VAT professionals, and where tax managers are often left exposed to risk How SAP falls short for modern indirect tax determination; what SAP’s plans are to bridge the gaps, andwhat you can do in the meantime How leading VAT departments are improving control and visibility of indirect tax across the organization How to prepare your department for the rise in real-time reporting requirements, changes in e-commerce,Brexit and more
PollHow do you currently manage VAT across your companies financial platforms? I am using a tax engine to get consistency in VAT settingsI have individual VAT systems to manage thisI am using native ERP toolsOther
PollHave you considered using tax automation technology to anticipate the indirect tax landscape'scomplexity and support the business better? Yes, we use a tax engineYes we are evaluating tax automation technologyNo, using other technology to support thisNo I am keen to learn moreNo – not needed for our organization
Tax SolutionsRegain Control in VATA joined effort for Tax and IT Vertex Inc.
PresentersPeter BoerhofVAT Director Vertex Inc.Roger LindelaufBusiness DevelopmentDirector
Opening statementCalcificationTax can regain control in VATby implementing a tax engineas part of an SAP S/4HANAimplementation. For IT thismay seem to be a threat but itis actually an accelerator forthe implementation.Calcification Vertex Inc.
VAT ManagerExplain your challenges to IT Vertex Inc.
The VAT manager dilemma ResponsibleSourcing & APAccountableWhat?P2PSourcing & rService & AR Vertex Inc.When?
Some VAT issues in the end-to-end processTouchless APIncorrect invoicesIncorrect tax codingComplex invoicesTime vs qualityLanguageP2PWrong tax reportingcountryMaterial tax status(bonded)Business knowledgeMaterial Tax ClassQuality checksCustomer Tax classVAT#Master DataReportingAudit trailSAP partnerfunctionsCommodity codesReconciliationsData completenessReporting thresholdsO2Cmultiple ship-fromDrop shipmentsIncorrect 0%manual invoicesBad debtArchivingVAT groupingCustomer fe orregistrationSetup for servicesFree of charge/samples Vertex Inc.Errors & CorrectionsIncotermsCustomer locations
Internal VAT triggersBusiness trends: Vertex Inc. Centralization Outsourcing/offshoring Automation/RPA Process thinking FTE reduction Legal entity reduction Cloud S4/Hana S4/Central Finance Supply chain remodeling
External VAT triggersLegislative trends: Real-time reporting SAF-T Pre-filled returns E-Invoicing VAT on eCommerce Split Payment Brexit Digital Service Tax 4 VAT Quick Fixes Definitive VAT system Vertex Inc.
eCompliance-where is the process -TReporting(Near)real-timereportingO2CInvoiceToken Vertex Inc.
What about you ?As a VAT manager: What do you really see? What do YOU want to see? What does your organization allow you to see? What does your CFO expect you to see? What do the tax authorities expect you to see?Do you see or are you blindfolded? Vertex Inc.
How is SAP changing,especially with regards toVAT determination? Vertex Inc.
Why VAT cannot be handled within SAPOwn, bespoke solutions can only serve VAT processes within 1 SAP systemSAPS/4HANAAre you ready for the future?Can you perform VAT determinationwithin SAP,Ariba If Purchasing chooses to use a newtechnology If Sales wants to use the E-Commerceplatform also for B2B transactions. Orbilling platforms / appsCoupaBuilding VAT solutions in each system AND maintaining thesesolutions in each system will become very time consumingand expensive.Also: each system will have its own VAT logic, which increasesthe risk of non-complianceSAP is not developing new VAT solutions within SAPS/4HANAe-CommercePlatform And if Corporate wants to use Concur forthe expensesConcur Vertex Inc.Or . If you decide to acquire other companies, which leadsto multiple ERP systems (SAP, Oracle etc.) which also mighthave their own platforms connected for purchasing, sales, etc.SAP creates SAP Tax Service as an answer to thesenew challenges, via its Localization Hub in the SAPCloud, to solve the VAT issues of the future outsidethe SAP S/4 HANA .
SAP and VAT: what does the future look like?Source: SAP AG Vertex Inc.
The Vertex Tax Engineand theVertex Indirect Tax ChainFlow Accelerator for SAPERP Vertex Inc.
Improved data mapping for improved VAT accuracy Interpretation of SAP dataCreate VAT-relevant transaction Sales orderBillingPurchase orderVendor invoiceFinance postingEtc. Change dataMap data to Vertex VAT fieldsUse visual representation of flow in SAPConnect documents within the chain flow Interfacewith VertexVAT determination ‘Raw’ SAP data mapped to Vertex VAT fields, Vertex tax engine understands business flow &conditions for accurate VAT determinationSAP CloudPlatformSAP ECC & S/4HANAVertex Tax EngineVertex Chain Flow AcceleratorChain Flow Data MappingConditionValueFormulaVertex Tax Service ControllerVertexTax ServiceAPISAP RESTfulAPIHTTPClientSAP Localization Hub,Tax Servicesend/receiveVAT dataTax ContentRepositoryTaxSolution/ServiceTax Code MappingChain Flow Validation Vertex Inc.Tax CalculationServices
Vertex Indirect Tax ChainFlow Accelerator for SAP ERP:Intelligent mapping of SAP data toVertex VAT fields, using avisualization tool in SAP Vertex Inc.
Vertex Indirect Tax Chain Flow Accelerator for SAP ERPChain Flow Tool (visualization of the flow in SAP) Vertex Inc.
Vertex Indirect Tax Chain Flow Accelerator for SAP ERPChain Flow Tool: Tax Process Chain ListGenericfor allflowsOverrideof genericmappingwherenecessary Vertex Inc.
Vertex Indirect Tax Chain Flow Accelerator for SAP ERPExample generic mapping for billing documentsVertex VAT FieldMapped SAP fieldWe want this data to be interpreted in a correct way, so the Tax Engineunderstands the business transaction correctly!The mapping can be done by VAT key users: IT does not need to be involved!SAP data from any table can be mapped to a Vertex VAT field.Vertex VAT fields are then sent to the Tax Engine. Vertex Inc.
Vertex Indirect Tax Chain Flow Accelerator for SAP ERPMapping override for specific scenariosGeneric mappingOverride21 Vertex Inc.1If party C performs pick-up, first leg needs to be ‘non-moved’2If party C performs pick-up, and does not provide you with thepaperwork to prove goods left the country: No Intra CommunitySupply
TeamHow do I sell my project? Vertex Inc.
Understand the bigger picture
Indirect Tax Automation - stakeholder objectivesKeep us out of troubleGrowing numberof VAT utationalconsequencesBigger fines ll confusing and overdone Except when we get in trouble Vertex IncMake our business betterCoordinatedrisk activitiesEnhancedbusinessprocessesOptimized controlsImproved riskreporting anddisclosureEffective useof technologyReducedtotal riskspendMust do it But how do we do it better?Futureproof our businessAll SAP customerswill need to moveto S/4 Hana in thenext 5 to 10 yearsThe EU action planforesees to changethe VAT regime inthe EU within thenext 2-5 yearsE-invoicingrequirements andTax Compliancereporting getsmore complexUncertain But coming!
Understand your audience and speak their language我們真的需要一個稅收引擎
Build partnerships for better results
Business PoliticsCOMPLIANCETaxITTax IT Vertex Inc.COMPLIANCE
Your world is global, digital,dynamic, and complex. Business changes Regulatory changes Technology changes– Digital transformation– Cloud– Networks Vertex Inc.
About Vertex – a trusted name in indirect tax automation Founded in 1978 Global organization with growing European presence 40 staff members located in Europe Offices in UK, Ireland, Belgium, Netherlands, Germany and Sweden VAT research, product management, customer support Significant SAP and customer expertise Over 50% of the Fortune 500 trust Vertex 19,000 tax jurisdictions Over 300 million data-driven effective tax rules Over 250 VAT customers In Europe 70 Tax professionals provide real-time rule and rate update Vertex Inc.
THANKYOU Vertex Inc.
Contact usPeter BoerhofRoger LindelaufVAT DirectorBusiness Development DirectorE: peter.boerhof@vertexinc.comE: roger.Lindelauf@vertexinc.com Vertex Inc.
Next From sharedserviceslinkwww.sharespace.digitalJanuary 16thJanuary 23rdJanuary 30th
Vertex Tax Service Controller Tax Code Mapping Chain Flow Validation SAP RESTful API Tax Content Repository Tax Solution/Service Tax Calculation Services Vertex Tax Engine Create VAT-relevant transaction Interpretation of SAP data Ch
