Meridian VAT Add-on for SAP
Solves all known limitations concerning VAT determination in SAP
The VAT Add-on solves all known limitations concerning VAT determination in SAP.
Standard SAP does not contain sufficient logic to automate tax determination for business with complex VAT flows. This exposes a company to a tax compliance risk as a result of systemic weaknesses and manual workaround procedures.
Compliance within your SAP System
Meridian’s VAT Add-on for use within SAP revolutionizes the approach to automated, compliant VAT determination and reporting processes in SAP. The VAT Add-on solution places all the required functionality directly into your SAP system, using standard SAP techniques.
- Automated “Right First Time” tax determination. Meridian’s VAT Add-on teaches SAP all the relevant VAT rules, and as a result is able to achieve a compliant and fully automated tax determination directly in the SAP system.
- Blocking functionality for non-compliant flows. In order to safeguard businesses from the exposure to financial risk associated with non-compliance. Meridian’s VAT Add-on solution incorporates integrated and flexible transaction control and blocking functionality.
- Transparancy and full audit trail. The Meridian VAT Add-on simplifies the VATdetermination logic in SAP bringing transparency to the whole process, providing global tax and finance managers with a clear understanding of how and why the VAT Add-on has arrived at a tax decision.
- Reduced IT costs. The solution is built directly into standard SAP using SAP technology which means there is no expensive external software or interfacing systems required. IT is no longer required to carry out heavy customising or hardcoding in the system in order to get the correct VAT determination.
- Remove complex VAT training for SD/AP staff. As Meridian’s VAT Add-on has achieved a compliant and fully automated tax determination directly in the SAP system, there is no longer a need to turn AP and sales order desk staff into VAT experts, which greatly reduces costs associated with training and staff turnover.
- Manual processes no longer necessary. With correct VAT determination in the system, the manual work of fixing incorrect tax codes and reviewing invoices is no longer required.
- Uses multiple VAT rates within the same tax code. The benefit of this approach is that it’s no longer a requirement to create new tax codes each time there’s a VAT rate change,
VAT Cockpit and Reporting Modules
The VAT Add-on implementation is on a modular basis. Everything is controlled from the VAT Cockpit and you them choose which module to implement.
Building The Business Case For Indirect Tax Automation
The indirect tax environment had seen a huge increase in digital obligations and real-time reporting, where data needs to be correct from the beginning with little option to make changes later. Based on a client study, we look at development of a business case for automating tax determination.
The first step is to identify all current gaps and opportunities. It should then be possible to define the value and KPI drivers for an automated VAT solution, and enable calculation of the costs and benefits.
The final stage in is a high level analysis of future capabilities and development of the transformational roadmap.
Quantifiable benefits for Goodyear Tyres from implementing the Meridian VAT Add-on for SAP
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