- Migrating to SAP S/4 HANA is seen as a way to improve operational efficiency and decision-making.
- Indirect tax determination is often overlooked in this transition.
- Organizations must decide whether to build tax determination logic within SAP or use a specialized tax engine.
- Implementing a tax engine is a smart and cost-effective choice.
- Process efficiency and productivity improvements can be achieved with a tax engine.
- Manual processes in accounts payable can lead to errors and delays.
- A tax engine automates the process, improving accuracy and speed.
- Tax audits require manual data extraction and validation, leading to additional expenses.
- An integrated tax engine in SAP can generate reports for quicker and more efficient audits.
- Compliance with tax laws is complex and requires continuous monitoring and updating.
- A tax engine helps ensure compliance and reduces implementation and monitoring time.
- Building a legal framework for VAT management within SAP is a hidden project cost.
- Ongoing legal consultations and updates are necessary to stay compliant.
- A tax engine comes with built-in legal frameworks, saving time and money.
- Default services and invoice clauses require specialized skills and add to project costs.
Source: vertexinc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
