“Including tax in your ERP project early on helps avoid unforeseen costs and delays, while giving you a robust foundation to meet your future tax obligations.”
Kerstine RencourtGlobal SAP TLS Alliance Leader, Partner, PwC United KingdomAs tax requirements become increasingly complex, manual approaches don’t cut it anymore
The world of tax is undergoing radical transformation. New regulations are coming in – for example, the EU’s Corporate Sustainability Reporting Directive (CSRD) and Carbon Border Adjustment Mechanism (CBAM) plus the OECD’s Pillar Two all impact companies’ tax obligations. At the same time, reporting standards are changing frequently, and e-invoicing is becoming increasingly prevalent.
Today, most companies are attempting to manage this complexity manually by aggregating data from multiple systems. However, this approach will no longer be viable with the shift towards (near-)real-time tax reporting, which doesn’t allow any time to correct errors in tax data before submission. In other words, tax reporting needs to be done once and done well.
Tax and ERP go hand-in-hand
The vast majority of data required for tax reporting comes from your ERP applications. So, if you’re thinking about moving to a new ERP, it’s important to make sure that it covers all your tax needs. This is essential to getting the best value for money from your ERP transformation and avoiding expensive rework and delays.
Why PwC and SAP S/4HANA?
We combine expertise in SAP with detailed knowledge of tax
We’re the go-to provider that combines expertise in SAP and systems integration with a detailed knowledge of global, country- and industry-specific tax requirements.
We recommend that you include tax experts within our advisory team when you move to SAP S/4HANA, so that we can:
Assess your current and future tax obligations depending on your industry, product portfolio and geographic footprint
Translate your complex tax needs into comprehensive IT requirements, getting increased value from your investment in SAP
Ensure SAP S/4HANA serves as a single source of truth for tax data, then data can be sliced and diced depending on your tax obligations
Provide you with demo of specific SAP modules like SAP Document and Reporting Compliance, SAP Global Trade Services (GTS), SAP Profitability and Performance Management (PaPM), and SAP ESG solutions
Guide your decision on which tax solutions to purchase from SAP or other providers (such as tax engines for indirect tax calculations)
Help you increase efficiency and cost savings while reducing risk
Provide a tailored service depending on the support you need
Automate tax reporting as far as possible and – if needed – help to outsource your tax compliance
Prepare reports for tax authorities, shareholders and stakeholders.
In other words, we give you everything you need for a successful ERP implementation – including a strong foundation to manage your tax & statutory reporting in-house or outsource it.
We can help you manage your tax requirements regardless of whether you’re doing a brownfield migration to RISE with SAP in a private cloud environment, or a greenfield deployment of GROW with SAP on public cloud. (And if you’re not yet sure which path you’re taking, our deployment assessment can help you decide.)
Compliance you can trust
We have around 1,000 Tax ERP experts trained in embedding your tax requirements in your ERP applications.
We also provide accelerators that help you:
Decide how to meet each country’s tax requirements – whether that’s using standard SAP functionality or custom development
Use automated test scripts and templates to get your tax data in the right format for submission to the relevant tax authority
Decide what to do now and later to be compliant on your tax calculation, reporting and analytics.
The bottom line: You need to think about tax. You need to act now. And we’re the right people to help.
