Tax authorities have been continuously increasing the number and the complexity of legal mandates, and they are now taking digitalization to the next level, introducing disruptive changes that make the adoption of new technologies essential for enterprises to remain compliant. In fact, after the introduction of electronic documents, the world has been evolving toward continuous transaction controls (business processes extended with an additional step that sends business documents to the tax authorities for registration / approval). These translate to tax authorities becoming gatekeepers controlling, validating, or even approving billing documents before they can be issued to buyers. As a result, compliance has become a fundamental step for businesses to run and ensure timely cash collection. Yes, compliance can no longer be an after the fact thought!
SAP Document and Reporting Compliance solution can help your business overcome these challenges and fulfill local compliance mandates by creating a scalable foundation to respond to emerging regulations without putting business continuity at risk.
In fact, SAP Document and Reporting Compliance solution empowers your business to fulfill local compliance mandates such as electronic invoices and statutory reporting, and automate compliance processes worldwide. With this solution, you can benefit of regulatory relief as a service to easily monitor legal changes and leverage solution updates across all your business applications.
With SAP Billing and Revenue Innovation Management, SAP Document and Reporting Compliance solution empowers you to automatically create electronic documents and integrate with various national systems of invoices to seamlessly invoice your customers. In addition, it helps you to fulfil statutory reporting requirements and standardize compliance processes worldwide. With high performance capabilities, the solution can deal with a massive volume of invoices meeting the challenges of subscription businesses and usage-based scenarios.
Fig. 1: Compliant Billing-to-Cash Scenario with SAP Document and Reporting Compliance
The integration between SAP Billing and Revenue Innovation Management and SAP Document and Reporting Compliance enables scenarios for e-invoicing and statutory reporting that you can leverage across many countries:
For countries not supported, you can easily leverage the extensibility embedded in SAP Document and Reporting Compliance for SAP S/4HANA Cloud, private edition and SAP S/4HANA to cover additional mandates and standardize your compliance processes and applications worldwide.
Fig. 2: Seamless Integration with Local Authorities and Platforms
With SAP Document and Reporting Compliance, all communications with tax authorities and business partners are fully automated: electronic invoices are created in the legal format and exchanged electronically. You can monitor the latest status leveraging a central cockpit and seamlessly correct failures with a unified experience across countries. With embedded navigation to underlying business transactions, this enables audit-proof traceability and transparency.
The out of the box integration between SAP Billing and Revenue Innovation Management for SAP S/4HANA Cloud for contract accounting and invoicing, in both private and public editions, and SAP Document and Reporting Compliance allows you to lower the total cost of ownership to comply with regulations worldwide and increase the agility to respond to new mandates (centralized compliance with a simplified IT landscape).
It supports the end-to-end process including business configurations, process orchestration and integration with both authorities and business partners as native steps within the billing process.
Beyond your recurrent billings, you can scale to all business processes with SAP S/4HANA Cloud and take advantage of e-invoicing and statutory reporting scenarios across 50+ countries. With one comprehensive solution that supports high volume of data with high degree of performance and automation across business applications, you can benefit of one source of truth that is key to avoid lengthy reconciliation and risk of noncompliance due to inconsistencies.
With SAP Document and Reporting Compliance integrated to SAP Billing and Revenue Innovation Management, you can stay compliant in the digital world and go beyond. With its streamlined approach to tax compliance and embedded automation, you can re-think compliance processes maximizing efficiency, reducing both compliance risks and costs, and increasing sustainability of tax operations.
If you want to learn more about SAP Document and Reporting Compliance and its business value as part of the SAP S/4HANA and SAP S/4HANA Cloud releases, read this blog post.
For more detailed insights on SAP Document and Reporting Compliance and SAP Billing and Revenue Innovation Management, see: