The best SAP Add-on solution for VAT
Not only have we been recommended but also tested intensively prior to production by the Big4. Recently the outcome of a very detailed report was again that after intensive testing the solution works according to its specifications and could go into production. A good question to ask our client references. We stimulate such Q&A.During Big4 software vendor selections Taxmarc™ has been selected various times as the 'best' SAP Add-on solution for automating the indirect tax determination for both incoming and outgoing invoices including its integrated tax control framework with automated VAT controls.
After signing a SOW we will NOT - contrary to other providers in the market - provide our Add-on solution via simply handing over an USB stick to the company's IT department with the request to load transport. That would mean that the product is in design a Plug And Play and has been developed as an One Size Fits All. That is not Taxmarc™.
Such way of operating would be in conflict with reality, not in line with our philosophy and never be a best practice. In daily life every company has not only their own deviations from a supply chain perspective (e.g. 4 parties in the chain) but could have a different SAP set up with various 'homegrown' practical work arounds and face besides generic also specific (industry) VAT risks.
Where Taxmarc™ differentiates
- After the SOW is signed our first effort would be that we sit down together with all in-house stakeholders (Indirect Tax, SD, MM, Finance, IT) to demonstrate in detail what we are going to change, explain why those changes are needed, what is accomplished with these changes and that these changes have a low impact on the current SAP set up.
- Subsequently we perform own checks on the current system and discuss these VAT and set up findings to understand the root cause why certain developments or configurations have been made in the past or to get a clear understanding of the background of certain specific SAP scenarios.
- We consider it important to spend time together with in-house stakeholders not only to get their immediate buy-in at the beginning of the project from a change management perspective, but as well to transfer knowledge back and forth by which also the solution will be tailor-made and future maintaining could be done in-house. The latter means process owners are appointed and we challenge decisions from a best practice perspective (what works for other multinationals).
- Understanding your current set up is really essential for us as all our designed features have to work as promised and that means that for certain specific scenarios some extra development might be needed. That is included in our fixed fee as it is all about realizing the IT and indirect tax objectives as agreed.
- We take a management role. We are the Subject Matter Experts and will take the lead in the project and install our solution ourselves. We do not shift responsibility as it is our core business and expertise. Simply ask our client references if this has been an appreciated and an effective approach.
- Our company statement is 'promise only what you can deliver and deliver everything you promise’. All our solutions are ‘implemented’, ‘tested’ and ‘in production’ at various listed multinationals.
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About Taxmarc™
Where We Differentiate
The standard VAT functionality of SAP is far from optimal. SAP exclusively focuses on transactions within a single company; it only assesses the underlying individual transactions and fails to link the current transactions to the VAT results of previous transactions. As a consequence, companies with VAT registrations in different countries cannot automatically comply with all VAT obligations.
Partly due to this reason SAP offers a certain degree of flexibility within the system, which enables users to apply adjustments in order to customize SAP for their organization. Previously this was known as ‘user exit’ and nowadays as enhancement implementation.
It offers users the possibility to add functionality and that is exactly what is accomplished with the implementation of Taxmarc™.
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