Tax Enabled ERP
As tax authorities continue to evolve the sophistication of audit and enforcement practices to identify non-compliant activities, businesses must find new ways to manage data more efficiently across increasingly global systems and create operational transformation opportunities.
Tax Enabled ERP provides design and implementation support to help businesses integrate indirect tax requirements into their ERP systems to improve control over tax data, manage potential risks, and enhance efficiency of business processes.
The tax benefits ERP systems can provide in business operations, tax data management, and regulatory compliance are often overlooked or underestimated during large-scale business transformation initiatives.
Tax Enabled ERP helps to align the “tax enablers” (people, process, technology, and data) to assist with:
- Managing evolving business requirements of the tax function to properly address them during an implementation
- Focusing on automating tax calculations, tax reporting, and documentation to eliminate manual processes and enhance transactional compliance
- Integrating SST/GST and Global Trade requirements within ERP solutions (i.e., SAP, Oracle, and JD Edwards)
- Integrating tax bolt-on solutions with the ERP system (i.e. Vertex, OneSource Indirect Tax (Sabrix), Taxware, SAP GTS, Oracle GTM and TrackonTrade)
- Enhancing efficiencies for data visibility and indirect tax reporting