Importance of VAT enabled ERP for your Business

An assessment of the capabilities of existing IT systems and re-configurations necessary in order to generate VAT compliant outputs is crucial. In many cases, significant changes will be required to IT platforms and present workflows and processes. Your business’s enterprise systems will need to be enhanced and modified to incorporate all aspects of VAT implementation. From your point of sale terminals, invoice and accounting systems, information technology systems and management reporting systems, VAT will have an impact on your whole of business systems. These adjustments must be considered in the context of minimizing interruption to your existing business requirements, while testing them to verify they have the capability to meet compliance requirements.  Against this background, focusing on what really is important to be prepared for VAT and ongoing compliance can be considered through these elements: • VAT mapping of business processes and transactions to iden...