GRC, Trade, and Tax with SAP S/4HANA Cloud 2408

[KatrinDeissner]

Hello and welcome to the release highlights for GRC, Trade and Tax with SAP S/4HANA Cloud Public Edition 2408. This blog contains selected highlights from International Trade, Core Tax, SAP Document and Reporting Compliance, as well as SAP Risk and Assurance Management and SAP Cloud Identity Access Governance along with their business benefits and deep-dive system demos.

To get a quick overview of our SAP S/4HANA Cloud Public Edition 2408 highlights for GRC, Trade and Tax, watch this 3-minute video:

Topics of Covered in this Blog

International Trade

• Integration of SAP Watch List Screening with Business Partner Master Data

Tax

• AI-Assisted Configuration for US Tax Jurisdictions

• SAP Document and Reporting Compliance: Mass Processing of Reporting Tasks
• SAP Document and Reporting Compliance: Electronic Invoices in Malaysia

GRC

• SAP Risk and Assurance Management: Automatic Issue owner Determination, Notification and Assignment

• SAP Risk and Assurance Management: Ad-Hoc Tasks in Issue and Remediation Management

• SAP Cloud Identity Access Governance: Enhanced Access Request Workflow

• SAP Cloud Identity Access Governance: Fine-Grained Authorization for Privileged Access Management
• SAP Cloud Identity Access Governance: Extension of Rule Content

International Trade

Integration of SAP Watch List Screening with Business Partner Master Data

SAP Watch List Screening is part of international trade compliance and checks business transactions such as sales orders and deliveries against sanctioned party lists to prevent high-risk business with sanctioned persons and organizations. As of this release, you can also screen business partners in the role of customers and suppliers. SAP Watch List Screening runs on SAP BTP and is integrated with SAP S/4HANA Cloud Public Edition. ​

Value Proposition​

• Prevent high-risk business with sanctioned persons and organizations​
• Assure legal compliance regarding sanctioned-party-list screening for customer and supplier master data​

Capabilities​

• Screen names and addresses of business partners in the role of customer or supplier​
• Call the SAP Watch List Screening application on the SAP Business Technology Platform from within SAP S/4HANA Cloud Public Edition​
• ‘Maintain Business Partner’ app:​
• Add status fields representing the screening status of the addresses of business partners​
• Manage a cumulative status field on the level of general data of the business partner​
• Consider business partner screening results during business document creation and update

​Video 2: As of 2408, it is now possible to screen business partners in the role of customer or supplier with SAP Watch List Screening in SAP S/4HANA Cloud Public Edition

​More Information

• SAP Help Portal: Integration with SAP Watch List Screening

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Tax

AI-Assisted Configuration for US Tax Jurisdictions

This feature is currently in beta testing.

Feature Overview​

If you’re using the internal UJS tax jurisdiction solution in SAP S/4HANA Cloud, you can now maintain your jurisdiction codes and rates with just three simple steps.​

• From a dozen steps down to three: Use a natural-language prompt to retrieve detailed information from the AI, then verify, simulate, and save your configured tax jurisdiction codes and rates. ​
• Once you’ve configured the connection between your SAP S/4HANA Cloud system and the LLM, you can chat directly with the AI to retrieve detailed address-based tax jurisdiction information. ​
• The LLM also returns a link to the respective state tax or revenue authority, giving you an easy way to verify your tax rate information before simulating and saving your changes. 

​Video 3: Currently in beta testing: The AI-Assisted Configuration for US Tax Jurisdictions

Register and experience the latest AI features in SAP S/4HANA Cloud Public Edition and influence upcoming AI developments.

More Information

• ​Get Involved Early

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SAP Document and Reporting Compliance: Mass Processing of Reporting Tasks

Businesses need to create reports to be submitted to the tax authorities across countries resulting in hundreds of reports per month. Instead of creating them one by one, business users can accelerate statutory reporting using the mass processing of reporting tasks in SAP Document and Reporting Compliance.

Value Proposition

• Reduce manual effort for creation and submission of statutory reports
• Lower the risk of noncompliance due to missed deadlines
• Enhance the overall business user experience by reducing user interventions required during individual report processing

Capabilities

• Mass processing of reports by allowing reporting actions such as report run creation
• Centralized progress log indicating the overall status of the mass action as well as details of processing and results of the action for each report
• Ability to perform report-level checks such as authorization for each report during the mass action processing
• Parallel processing of mass actions across reports

Fig. 1: As of SAP S/4HANA Cloud 2402, business users can accelerate statutory reporting using the mass processing of reporting tasks in SAP Document and Reporting Compliance

More Information

• SAP Help Portal: Mass Action

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SAP Document and Reporting Compliance: Electronic Invoices in Malaysia

As of August 2024, Malaysia authorities are introducing mandatory electronic invoices. The country wants to promote electronic invoicing in business transactions between businesses. Electronic invoicing is a measure for digitizing business relationships, reducing transaction costs, and increasing transparency in commercial traffic.  With SAP Document and Reporting Compliance, as of 2408, you can seamlessly generate and electronically exchange invoices through authorities’ portal.

Value Proposition

• Enable comprehensive compliance with new regulations for electronic invoices in Malaysia
• Deliver a consistent user experience across countries and business processes
• Simplify implementation of new local requirements
• Automate and simplify invoicing processes

Capabilities

• Support validation through authorities’ portal of
• Customer invoices
• Buyer-issued invoices
• Refund notes
• Buyer rejections

Fig. 2: As of SAP S/4HANA Cloud 2402, you can seamlessly generate and electronically exchange invoices through authorities’ portal in Malaysia in SAP Document and Reporting Compliance

More Information

• SAP Help Portal: Document and Reporting Compliance

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GRC

SAP Risk and Assurance Management

SAP Risk and Assurance Management is integrated with SAP S/4HANA Cloud, public edition and provides you with the tools to become compliant with internal controls, laws, and regulations that apply to your organization. In Issue Management and Remediation, you can process and monitor issues resulting from manual or automated procedures in Issue Management and Remediation.

Automatic Issue Owner Determination, Notification and Assignment

Now, you benefit from automatic dispatching of new issues to issue owners, email notifications for issue nominees, and automatic issue owner assignments.

Value Proposition

• Enable automatic dispatching of new issues to issue owners
• Enable email notifications to make nominees aware of new issues
• Avoid orphaned issues by automatic issue owner assignment after a grace period
• Help issues find their best processor under consideration of absences, workload, and so on
• Provide clear notification status for each issue available

Capabilities

• Automatic determination of issue owner nominees based on business data
• Email notifications with direct link to the issue for all nominees
• Category-specific reminder email notification after a configurable period of time
• Fallback mechanism to assign a default user after a configurable grace period
• Dashboard provides easy access for issue nominees

More Information

• SAP Help Portal: Notification of Nominees
• SAP Help Portal: and How to Set Up Automatic Issue Owner Assignment (Admin Guide)

Video 3: Now, compliance specialists benefit from automatic dispatching of new issues to issue owners, email notifications for issue nominees, and automatic issue owner assignments in SAP Risk and Assurance Management

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Ad-Hoc Tasks in Issue Management and Remediation

As of this release, you can create user-defined tasks on ad-hoc basis and complement existing task lists.

Value Proposition

• Get a flexible extension of task lists by issue owner​
• Address topics using tasks that have not been foreseen at design time​
• Avoid communication outside the Process Issues app in order to address issue-specific topics

Capabilities

Ad-hoc tasks allowing users to create tasks at runtime that are not provided through predefined task list templates:

• Create user-defined tasks on an ad-hoc basis
• Complement predefined task lists with tailored tasks

Video 4: Now, you can create user-defined tasks on ad-hoc basis and complement existing task lists in SAP Risk and Assurance Management

More Information

• SAP Help Portal: Creating Tasks Manually

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SAP Cloud Identity Access Governance: Enhanced Access Request Workflow

SAP Cloud Identity Access Governance, access request service is a cloud service for creating self-service requests to applications for on-premise and cloud source applications and systems. Thanks to the new approach of a dynamic risk owner determinator, you can dynamically determine the current risk owner stage approver. This determinator assigns the risk owner stage approver based on business rules that evaluate both risk and user attributes when an access request is created.

Value Proposition

• Gain additional flexibility to define a more streamlined access approval process based on various business needs

Capabilities

• Additional optional configurations in the access request workflow:
• Dynamically identify the risk approver in the approval process
• Based on configuration setting allow access-risk mitigation during the approval process

Fig. 3: Thanks to the enhanced access request workflow, you can dynamically identify the risk approver in the access request approval process

More Information

• SAP Help Portal: Dynamical Risk Owner Determinator

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SAP Cloud Identity Access Governance: Fine-Grained Authorization for Privileged Access Management

SAP Cloud Identity Access Governance, privileged access management service is a cloud solution that lets you create self-service requests for emergency access to systems and applications. Thanks to this innovation, you can facilitate granular authorization roles by application.

Value Proposition

• Enhance security and control by helping ensure that users have access only to the applications necessary for their roles
• Reduce the risk of unauthorized access and potential security breaches
• Align with the principle of least privilege, and improve overall compliance with security policies and regulations

Capabilities

• Granting access to each application within the privileged access management (PAM) service, through distinct roles in SAP Business Technology Platform, facilitating granular authorization roles

Fig. 4: Thanks to the fine-grained authorizations for Privileged Access Management, you can facilitate granular authorization roles by application

More Information

• SAP Help Portal: Pre-delivered role collections on BTP

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SAP Cloud Identity Access Governance: Extension of Rule Content

SAP Cloud Identity Access Governance is integrated with SAP S/4HANA Cloud, public edition and supports comprehensive identity management and access governance. It allows you to minimize access risk and mitigate potential risks for financial loss.

Value Proposition

• Support continuous compliance to access policies through provision of out of the box rule set to assess access risks
• Upgrading applications may introduce new roles, permissions, and potential conflicts. Ensures access risk rule sets are updated to maintain alignment between access risk analysis assessments and the evolving landscape.

Capabilities

• Updated pre-delivered rule set content for additional scenarios, including:
• Segregation of risks
• Critical-access risks

Fig. 5: The extension of rule content ensures that access risk rule sets are updated to maintain alignment between access risk analysis assessments and the evolving landscape

More Information

• SAP Help Portal: What’s New

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📽️ Watch the Replays of Our SAP S/4HANA Cloud Public Edition 2408 Early Release Series! 

From July 8 to July 12, we hosted a series of 20 compelling live sessions to highlight the exciting innovations shipped with the SAP S/4HANA Cloud Public Edition 2408 release. Missed the live sessions? We've got you covered! Take advantage of the entire series or pick and choose the sessions most relevant to you. You will find a 60-minute-long recording and a presentation for GRC, Trade and Tax as well as 19 other topics of interest. Don't miss this chance and watch them on demand – anywhere, anytime. 

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