An unprecedented new wave of e-invoicing changes is coming to many countries by the end of the year. Despite deadlines looming, 46 per cent of European companies do not feel confident about their capability to comply with the patchwork of European e-invoicing regulations, according to new research. Tax professionals dealing with these regions using SAP ECC, S/4 or Ariba will need to adjust systems quickly to prepare for these changes.
However, integrating every country-specific requirement into one SAP solution is no simple task. Some countries will only accept e-invoices by the end of the year, others need e-invoices to follow rigid formats, while certain countries request that e-invoices are automatically shared with the relevant government department. The complexity of these updates can risk delaying current SAP projects or causing cost overruns. What’s more, tax professionals will have to put in new processes to manage the clearance and reporting of these new e-invoicing models.
In order to help SAP users navigate these changes, the User Group will be running a webinar hosted by tax software firm SOVOS on the 23rd of June at 2pm BST. The webinar will highlight the key changes tax professionals using SAP need to be aware of over the coming year, offering up advice on everything from Order to Cash and Procure to Pay, helping organisations to implement changes on time and on budget. Members can sign up to the webinar here, while SAP users who wish to join as a guest can register here.
As users adjust SAP systems to cope with e-invoicing requirements, they also have an opportunity to further automate their financial reporting tasks and improve efficiency. To that end, the User Group will also be hosting a webinar from tax solutions firm Vertex focusing on real time tax calculations in SAP Ariba. At the end of the month, we will also be hosting a web event on automating VAT determination, where Croda International will be sharing its experience of automating its complex VAT scenarios and processes using Meridian Global Services.
In addition to regular events designed to support finance users, members can also learn, ask questions and collaborate with other finance experts through the User Group’s JAM platform, which has a dedicated finance community. Look out for further updates throughout the year as we look to help SAP tax professionals navigate an increasingly complex landscape.