Tech - Explanatory
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Language
EnglishVoice Age
Young Adult (18-35)Accents
North American (General)Transcript
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when it comes to s a P managing that stayed much the same for the last 40 years. The primary method toe update that is to manually update logic tax codes and rate behind the scenes in S A P. This worked fine for a long time, but now there's s a P S four Hana with many great features and functions motivating 73% of companies to migrate. While this is positive news for the business overall, it poses a big problem for tax. There is still no riel that support in the core simply to maintain your existing functionality. You can't just copy and paste. You will need significant I t re sources and time. Many companies air questioning the efficacy of existing functionality. In any case, is operating the current environment the best use of your people in time? How are you positioned to deal with the next big unknowns like operating in a post Covad world? Or the next major regulatory change is the move toward S A. P S four. Hana continues. We're hearing growing concerns from tax managers your responsible for tax but technology people are making critical decisions left unaddressed. Businesses risk increasing burdens and manual effort, a greater possibility of reporting incorrect data to tax authorities with less time for corrections and reputational damage from negative press or government scrutiny. It doesn't have to be this way. The key to success is establishing intelligent control. So your tax organization has greater oversight in a smart way. To achieve this, you need to ensure you can fulfill all your standards, needs and requirements. You must connect indirect tax to tax authorities reporting platforms, and you need to automate as much manual work and effort as possible. When you dio you will decrease. I tease burden free up resource is for more valuable work and be prepared to respond to what's next and you'll operate with greater efficiency, visibility and compliance. That's what I'd like to explore further with you.