Enhance compliance in your SAP ERP and automate VAT determination decisions with our SAP certified add-ons
VAT determination is challenging for any company with complex transactions in its supply chains. Business sectors such as manufacturing, pharmaceutical, construction, retail and logistics are particularly overburdened trying to manage this requirement.
Limitations in SAP functionality has created another level of complexity. Custom coding in SAP is often required to achieve reliable determination decisions and the need for ongoing customization makes maintaining master data difficult.
These challenges typically prevent companies from achieving a desirable level of transparency across their determination process. When a business deals with complex transactions, often due to multi jurisdictional supply chains, accurate VAT determination is vital. Any errors at this point can lead to severe consequences for accounting accuracy and financial resilience.
A powerful suite of SAP-certified add-ons automate VAT determination, simplifies master data maintenance and mitigates the compliance risks caused by inaccurate data.
Deliver enhanced SAP functionality that alleviates pressure for both tax and IT professionals to meet your ever-evolving VAT requirements.
Handle future changes without specialist SAP experts, and reduce the technical maintenance burden to free SAP-resources to focus on other projects
Deliver accurate and reliable tax decisions though intelligent, automated logic directly embedded within SAP processes
Identify errors by comparing general ledger and account balances with postings against specific tax codes
Drive accuracy of data in downstream processes for periodic reporting including VAT Returns, EC Sales Lists, Intrastat Declarations and SAF-T
The trend towards digitization continues with governments becoming increasingly present in your data. By partnering with Sovos, you gain greater clarity for VAT determination and peace of mind that your business is safeguarded from risk of future audits
Increase invoicing accuracy with robust determination decisions, so billing teams don’t need to correct and reissue invoices. Similarly, when invoices received by a company are accurate they can be processed without delay