Page 2 of 5: Key Features of SAP DRC
1. Automated Document Generation
SAP DRC automates the creation of compliance-related documents, such as VAT invoices and reports, reducing manual intervention and associated errors. This ensures that all required information is captured correctly as per local requirements.
2. Integration with SAP ERP
The DRC module integrates seamlessly with SAP's core ERP systems, enabling real-time data extraction from financial transactions. This integration minimizes duplication of effort and ensures accurate reporting based on up-to-date data.
3. Country-Specific Compliance
SAP DRC supports various jurisdictions by offering specific compliance templates that align with local VAT reporting requirements. This adaptability helps businesses manage VAT strategies across different countries effectively.
4. Real-Time Reporting
Organizations can access real-time insights into their VAT positions and compliance status. This visibility allows companies to monitor their tax obligations continuously and adapt their strategies to avoid penalties and manage cash flow effectively.
5. Digital Filing and Submission
SAP DRC facilitates the electronic filing of VAT returns and other compliance documents (e-invoicing, SAF-T) directly with tax authorities. This capability streamlines submission processes, making compliance more manageable and less time-consuming.]