An End-to-End Solution for Global Compliance – cbs’ E-Compliance Solution
Meet the Authors
Key Takeaways
⇨ As digitization drives more countries to adopt e-Compliance requirements, relying on regional vendors for country-specific compliance is not a scalable strategy.
⇨ The cbs World Cloud is a fully managed service that accommodates all countries with digital legal reporting obligations and that covers electronic compliance requirements for global companies.
⇨ E-Compliance by cbs tackles the critical challenges posed by the frequency and criticality of legal changes, the complexity and supportability of legal requirements, and the costs and resources required to adapt system and process landscapes.
Global legal and fiscal requirements in business-to-government scenarios such as e-Invoicing, e-Governance, e-Reporting, e-Delivery, and e-Transport are exceptionally stringent. These include mandatory electronic invoicing, detailed and accurate reporting, and the handling and declaration of various specific taxes. These regulatory demands are also in constant flux, often necessitating significant adjustments to both system and process infrastructures. As a result, implementing, operating, and maintaining global SAP solutions becomes a costly and complex challenge. To mitigate the extensive technical and organizational efforts involved, companies may opt to outsource the entire document exchange process with government bodies.
Adapting business processes to align with a standardized, global governance model while also satisfying the demands of various public authorities is further complicated by digital transformation. Technologies like SAP S/4HANA require the comprehensive integration of legal requirements into digital processes, a complexity often underestimated by IT departments, leading to last-minute compliance efforts. Modern e-Invoicing solutions address more than just formats or communication channels; they integrate entire business processes to enhance automation, facilitate rapid data exchanges, and ensure legal compliance. The main challenge, however, lies in ensuring that these processes are seamless, maintain a single point of truth, and avoid any disruptions in digitalization and standardization efforts.
As digitization drives more countries to adopt e-Compliance requirements, relying on regional vendors for country-specific compliance is not a scalable strategy. Instead, using a secure, proprietary cloud-based platform can ensure compliance with technical protocols, policies, regulations, and principles, and provides a comprehensive solution that integrates smoothly with existing SAP environments, ensuring all e-Compliance needs are met and business continuity is maintained. Attaining this goal demands a well-thought-out, holistic strategy instead of a temporary fix.
The cbs World Cloud is a fully managed service that accommodates all countries with digital legal reporting obligations. It is cbs’ comprehensive solution that covers electronic compliance requirements for global companies—ONE single partner enabling full SAP integration to seamless integrate legal requirements into process landscape. cbs World Cloud is the next step in digital process evolution and fills the gap between “classic” EDI and current process implications.
E-Compliance by cbs tackles the critical challenges posed by the frequency and criticality of legal changes, the complexity and supportability of legal requirements, and the costs and resources required to adapt system and process landscapes. This comprehensive solution facilitates seamless end-to-end data flow among suppliers, buyers, and governmental authorities. By continuously monitoring and analyzing legal changes, the reliable platform enables compliant scenarios and legally mandated e-Invoicing and e-Reporting. This ensures that businesses remain up to date with minimal organizational effort.
Using the managed cloud solution from cbs, the cbs World Cloud significantly reduces complexity in SAP systems and external interfaces and externalizes unplanned and repetitive tasks, freeing up central IT specialists from local, country-specific tasks and elevating automation levels in business processes. The solution offers a fast return on investment and lowers the total cost of ownership by distributing cloud content across all global customers, thereby reducing costs per customer. Additionally, it includes an automatic legal change monitoring feature where the cbs Legal Change Board tracks, evaluates, and implements legal changes automatically, allowing users to focus on other priorities. Currently, the solution supports over 30 countries, with a dedicated team of experts who continuously monitor regulatory changes to ensure that new regulations and country-specific solutions are implemented within their respective deadlines.
