Software company SAP has certified PwC’s Taxmarc software solution. This is SAP’s way of guaranteeing the solution’s quality and compatibility. As a result, the customers of SAP can implement the solution without encountering problems in their SAP systems.
Taxmarc is an indirect tax (VAT) engine for SAP systems and is able to determine the appropriate VAT treatment for all procurement and sales transactions in SAP systems, even for the most complex international scenarios.
Taxmarc features an integrated tax control framework, whereby all transactions and VAT details are immediately checked at the source for consistency and correctness. This ensures that the data in the SAP system is always correct. This is crucial because more and more tax authorities worldwide are requesting data directly from ERP systems.
“It is an addition to SAP; a bonus if you will”, says Wanda Otto (Indirect Tax Partner) from PwC. “The partnership with SAP is a real milestone. None of the other Big Four firms have been given this certificate of quality.” Otto has noticed a major change within organisations. “The quality of tax data is crucial and IT departments are having an increasingly bigger say when selecting the company’s VAT system. This means products must offer impeccable quality. And that’s what this certification guarantees.”
For more information on Taxmarc, please click HERE.