
Hello and welcome to the release highlights for Governance, Risk, and Compliance (GRC) with SAP S/4HANA Cloud, public edition 2308. This blog contains selected highlights from SAP Financial Compliance Management, SAP Document and Reporting Compliance, and tax-related enhancements for Indirect Taxation Abroad (RITA) along with their business benefits and deep-dive system demos.
To get a quick overview of our SAP S/4HANA Cloud 2308 highlights for Governance, Risk, and Compliance, watch this 3-minute video:
SAP Document and Reporting Compliance
Registration for Indirect Taxation Abroad (RITA)
SAP Cloud Identity Access Governance
SAP Financial Compliance Management provides you with the tools to become compliant with internal controls, laws, and regulations that apply to your organization. The solution enables you to document your internal controls framework and manage potential risks to your organization, as well as develop and monitor checks put in place to ensure compliance.
If you are new to the topic of SAP Financial Compliance Management, I recommend that you first read my blog on Governance, Risk, and Compliance (GRC) with SAP S/4HANA Cloud 2102. There, you will find a quick introduction into the cloud GRC product. Please note that SAP Financial Compliance Management is not part of SAP S/4HANA Cloud, but is a separate product and requires an additional licence.
Please note that SAP Financial Compliance Management is integrated with SAP S/4HANA Cloud via scope item 'Financial Operation Monitoring with SAP Financial Compliance (3KY)' and requires a separate license.
Compliance specialists now benefit from full transparency into the status quo of issue and remediation management provided by the ‘Issues Overview’ app. Thanks to the intuitive dashboard, they are guided by the system to those issues that require their attention and can directly drill-down to take immediate action.
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Fig. 1: The operational dashboard in SAP Financial Compliance Management provides full transparency for compliance specialists regarding issue and remediation management
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System Demo
https://sapvideoa35699dc5.hana.ondemand.com/?entry_id=1_h98chf4e
Tax authorities have been continuously increasing the number and the complexity of legal mandates and, lately, they have been moving toward continuous transactions controls. These translate to business processes extended with an additional step that sends business documents to the tax authorities for registration / approval before business transactions can take place. And, as a result, tax authorities collect all data required to automatically verify returns upon submission or even prepare draft returns on behalf of tax payers.
SAP Document and Reporting Compliance allows you to automatically check the consistency of business transactions between SAP S/4HANA Cloud and tax authorities’ platforms to early identify discrepancies and allow enough time for corrections prior month-end. In addition, you can centrally review the findings and initiate corrections. This way, you can ensure traceability and minimize the risk of noncompliance at the time of returns submission.
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Fig. 2: With the consistency check for electronic documents, you can proactively check the consistency of business transactions between SAP S/4HANA Cloud and the data of the tax authorities
Fig. 3: With the consistency check for electronic documents, you can review inconsistencies and initiate corrections
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https://sapvideo.cfapps.eu10-004.hana.ondemand.com/?entry_id=1_tdmcs286
Video 2: System demo for electronic documents consistency checker
SAP Document and Reporting Compliance allows you to comply with local regulations, including automated creation and electronic exchange of business documents in the required format. The ’Manage Electronic Documents’ app allows you to review electronic documents and manage corrections across countries.
With the new release, you can proactively notify errors by sending emails to predefined mailboxes (e.g. support teams or individual users) or setting up automated notifications to specific users. From the notification or the document list (Logs tab or Error Tag), you can easily navigate to the ‘Error Analysis’ page, which provides a streamlined view by error type and assists you in troubleshooting errors, retriggering email notifications and initiating corrections. Another enhancement with electronic documents processing is the option to manually create electronic documents when, for example, automatic creation fails or electronic document needs to be recreated upon update of underlying business transaction.
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Fig. 4: Thanks to the automated error notifications during electronic documents processing, you can proactively trigger error notifications during electronic documents processing
More Information
Fig. 5: With the new functionality, you can manually send e-mail notifications
Fig. 6: In addition, you can review errors and initiate corrections of your electronic documents
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System Demo
https://sapvideoa35699dc5.hana.ondemand.com/?entry_id=1_1xkg8ufo
Video 3: System demo for automated error notifications during electronic documents processing
Please note: Currently in early adoption only. Available for early adopters as of mid of September 2023.
* Native integration with SAP Document and Reporting Compliance
https://sapvideoa35699dc5.hana.ondemand.com/?entry_id=1_b5fg2brg
Video 4: For early adopters: System demo for tax operations with tax register and SAP Document and Reporting Compliance
With growing international economic trends and digital economies, many countries over the world allow foreign companies to register for indirect taxes in the country / jurisdiction without setting a permanent establishment.
Registration for Indirect Taxation Abroad enables legal entities to step out of national / jurisdictional borders and extend business abroad.
RITA is the solution in SAP S/4HANA Cloud enabling a single legal entity to perform indirect tax calculation in multiple countries. Therefore, RITA is not intended for permanent establishments abroad.
With the 2308 release, we have two RITA-innovations related for tax.
Intra-company stock transfers and customer consignments are common ways to manage inventory. Companies that carry out EU intra-community cross-border deliveries of goods between physical locations can be subject to specific tax and reporting regulations. In these cases, you can use the Create Proposed Tax Postings from Goods Movements job to generate a list of proposed tax postings for your goods movements transactions. You can then use the Manage Proposed Tax Postings app to review and accept these proposals, or amend them if necessary. You can also call up a pricing analysis in the Managed Proposed Tax Postings app to see more information about the pricing conditions that led the system to make the proposal for the tax posting.
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Fig. 7: With the proposed tax posting functionality, you can manage your proposed tax postings
If you as a supplier use a customer consignment process with intra-community simplification rules between two EU countries under the new European Council Directive 2006/112/EC Article 17a, you are legally required to track all movements of your consignment goods to and from the call-off stock.
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Fig. 8: With the Consignment Register - Sales View, you can keep track of the movements of your consignment stock
Additional workflow configuration options to support various business requirements:
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Improved workflow to enable additional customization:
The new Manage PAM session app allows the administrators to view all PAM IDs that exist, are in use and/or inactive. The app also lists additional information on session status, validity of the PAM ID, information on when the session was started and reasons for which the PAM IDs are required.
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This feature provides capability to upload multiple new business roles and also update existing business roles attributes using the file upload. You can download the template for business roles.
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