Vertex tax technology: Introducing SAP chain flow accelerator
The new tool helps SAP ECC or S/4HANA users improve VAT accuracy
Managing tax across Europe has become increasingly complex: with new VAT regulations, migrating to the cloud, multiple financial systems, faster data speeds, and urgent reporting deadlines.
For companies with cross-border supply chains, ensuring consistent VAT treatment across all legs of transaction requires tedious manipulation of data in the ERP system. The process is manual, error-prone, and usually requires significant support from IT.
Errors in the interpretation of which data is relevant for VAT determination can mean errors in VAT payments and accruals which affect the bottom line.
Vertex offers a visualisation tool to streamline chain flow data mapping for improved VAT determination. Using the chain flow accelerator, the user can map data inside SAP ECC or SAP S/4HANA to Vertex VAT fields – and perform an interpretation of the data before it’s sent to the Vertex tax engine for VAT determination.
To perform this data mapping, Vertex offers a unique visualisation tool to streamline the data mapping and improve accuracy. Tax professionals can use the tool without IT intervention, connecting up to 80 data elements and documents in a chain, to ensure consistent VAT treatment across the transaction.
The streamlined chain flow data mapping is not only available in S/4HANA, but also in ECC. SAP customers who implement the tool now in ECC can streamline their migration to S/4HANA, since the VAT data mapping can be easily transferred.
Add the Vertex Chain Flow Accelerator to SAP ECC or SAP S/4HANA today – to improve VAT accuracy and spend less time recouping VAT overpayments, reduce IT support, increase tax department efficiency, and improve audit performance.