Richard Cornelisse

Conceptual thinking

In Indirect Tax Automation, Indirect Tax Strategic Plan, Processes and Controls, SAP add on, SAP add on for VAT, SAP for VAT, SAP implementation, SAP review, Technology, VAT automation, VAT for SAP, VAT planning on 15/11/2014 at 3:25 pm

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Every feature developed by Taxmarc™ improves indirect tax performance of SAP in a specific area. For example the time stamped tax code solution prevents that a company ever runs out of tax codes. During our design phase the performance should not only exceed everybody’s expectation but should meet a company’s strict IT policy and procedures around software development & implementation as well.

Our functionality increases workforce efficiency, avoids rework, decreases risk exposures but as well increases visibility and awareness by which the tax function is able to set the right priorities.

As our solutions are in production for many years at listed multinationals we have a proven track record. Those companies are our client references. We are not just telling you what we offer but encourage you to validate.

However, the real strength is that we think ahead of our clients’ objectives for managing indirect tax. During solution design we anticipate that even additional functionality will become available by which all these objectives will be met when all our features work together. An example is our integrated Tax Control Framework and Data Analytics Module.

Our features do not only improve an individual SAP performance issue but synergies are reached when these individual building blocks work together. This could not have been achieved without the individual strength of performance of all our features.

A chain is as strong as its weakest link. We have made certain that all our links are made of the strongest material currently known to man. Only that is what we consider best practice and revolutionary: ‘Nothing more and nothing less’.

All our features developed should meet the following test criteria: excellent performance in individual problem solving, contributing added value to overall functionality when all features operate together, satisfying client needs even beyond indirect tax and meeting the strict IT policies of a company.

Taxmarc™ Booklet

 

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Realizing it all

In Audit Defense, Business Strategy, Indirect Tax Automation, Indirect Tax Strategic Plan, Processes and Controls, SAP add on, SAP add on for VAT, SAP for VAT, SAP implementation, SAP SLO renaming tax codes, VAT automation, VAT for SAP on 15/11/2014 at 1:29 pm

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Our features realize automated VAT determination based on real time data for incoming and outgoing invoices even for the most complex transactions. Because the decision tree of Taxmarc™ is integrated in SAP as part of the Tax Control Framework, SAP is also enhanced with automated VAT controls.

The consistency of the combination of the VAT data is evaluated on actual transactional data. This enables Taxmarc™ to identify real-time when certain transactions are not possible, for instance because a local VAT registration is missing. The integrated SAP controls can either block transactions or store these in an emergency table when considered VAT non compliant. Blocked transactions can be released by the responsible tax person.

Each purchase and sale is checked by an integrated tax control framework that contains up to 75 messages. Each message provides information on why a transaction is accepted or not and is therefore of great management value for the tax function.

Taxmarc™ keeps a logbook – risk register – of all identified inconsistencies. The internal tax function has always insight into the areas for attention through this logbook. This allows tax managers to set the right priorities and take measures timely.

All features are easily managed via the Taxmarc™ cockpit. Through the enhanced condition technique for both sales and purchases – using a maximum of 250 condition records – and features such as time stamped tax codes, automated VIES validation and automated Intrastat reporting functionality, we realize optimum workforce efficiency, low maintenance costs and effective VAT risk management. It contributes to strengthening the relationship with the tax authorities.

Our integrated data analytics feature provides real time insight into the company’s operational business model without any need of manual transaction mapping. The impact of business changes can be determined via simulation with the use of real time data (e.g. cash flow planning).

We have developed a time stamped tax code feature by which a company never runs out of tax codes. The integrated VIES validation feature allows a company to validate VAT numbers in SAP via a batch with the VIES database at any time.

The best way to show where we really provide added value is to answer the next questions:

  • Who can automate the VAT determination in SAP for all incoming and outgoing invoices including most VAT complex transactions on real time data without hardcoding?
  • Who can deliver an integrated tax control framework that monitors all your transactional data in SAP?
  • Who can blueprint your organization immediately without run-time issues?
  • Who facilitates planning also beyond indirect tax without guessing the numbers?
  • Who can make your tax code design permanent and realize that you never run out of tax codes?
  • Who can restructure your tax codes without doing a System Landscape Optimization?
  • Who can run your sales transactions with a maximum of 250 condition records per tax reporting country?
  • Who can realize automated VAT and Intrastat reporting without any manual intervention?
  • Who has their features in production for many years at multinationals?
  • Who has been tested by the Big4?
  • Who has the solution presented to the tax authorities as part of OECD’s enhanced relationships?
  • Who has the solution operational in Europe (30+), Asia (7), African/Middle East (4), Latin America (5) and North America (1)?
  • Who can do this within SAP via a SAP add-on solution: no interface or external software?
  • Who can realize this all with a maximum of only 4 extra customized SAP tables to get our SAP add-on solution(s) up and running?

Taxmarc™ has realized this all.

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Booklet: anticipate what SAP users would want

In Audit Defense, business intelligence, Business Strategy, cash management, financial audit, Indirect Tax Automation, Indirect Tax Strategic Plan, internal audit, liquidity management, Macroeconomic effects of VAT, Processes and Controls, SAP add on, SAP add on for VAT, SAP for VAT, SAP implementation, SAP review, SAP SLO renaming tax codes, System Landscape Optimization, Technology, VAT automation, VAT for SAP, VAT planning on 10/11/2014 at 10:07 am

If full ‘VAT automation of Accounts Receivable (AR) and Accounts Payable (AP)’ and ‘being in control’ are objectives of your organization, it is important to know what exactly makes Standard SAP not functioning optimal from an indirect tax perspective. Only then it is possible to validate whether a company’s objectives can be achieved via upgrading Standard SAP functionality and/or implementing an external tax engine.

Below Booklet “Solving the real problem not a symptom” explains when Standard SAP requires additional VAT functionality, the root cause, the impact of patch up solutions that remediate a symptom and how the real problem is resolved.

It is shown in an easy to read format for both desktop or mobile devices. After ‘Click to read’, the menu bar contains a button for downloading in PDF.

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