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Friday 11 June 2021
Companies undergoing restructuring could be in any of the following situations:
Major cutbacks and job loses
Changes with Finance or IT , for example, moving to a SSC or outsourced service provider
In a merger or acquisition process
All spend on IT and ERP developments is often put on hold during these times and departments are unlikely to get budget for new projects.
Companies should be aware that complexities and risks with VAT determination will not go away. In fact, in most cases these issues will only get bigger.
Just because a company does not have budget right now for ERP developments, does not mean they cannot discuss what needs to be fixed and how the Meridian application will help.
If a company is losing headcount, automation will help to reduce the risk and complete the same tasks with less people.
Making changes to internal structures, roles or functions are more reasons why you need to have a consistent process for VAT determination.
In Merger and acquisitions scenario, the risk will only grow and the Meridian VAT add-on will make it easier to add new companies to your existing systems and VAT determination processes,