Is Your SAP Data Environment Ready for a Tax Audit?
Meet the Authors
Key Takeaways
⇨ Accessing real-time, full life cycle data in SAP systems for auditors and compliance teams is a pressing challenge.
⇨ This demand places the responsibility on companies to ensure the accuracy of their accounts.
⇨ SAP users can utlilize innovators like PBS Software who are stepping forward with solutions.
Accessing real-time, full life cycle data in SAP systems for auditors and compliance teams is a pressing challenge for many organizations when undergoing tax audits. When confronted with these complexities, SAP customers seek a unified solution to bring together data and documents from retired SAP systems into a singular, easily accessible repository.
Gone are the days when tax administrations assumed the effectiveness of businesses’ accounting controls. Today, they demand comprehensive access to all facets of an organization’s accounts, extending beyond mere accounts payable and receivable transactions. Their aim? To independently verify tax payments across the entire spectrum of financial activities.
This demand places the responsibility on companies to ensure not only the accuracy of their accounts but also the congruence between their operational accounts and the government-accessible shadow versions. Any discrepancies necessitate thorough explanations from the organization.
In response to this challenge, innovators like PBS Software are stepping forward with solutions such as the PBS Software Enterprise Content Store.
The Enterprise Content Store offers a comprehensive suite of tools designed to extract and transfer data from SAP systems swiftly. Crucially, it maintains links between tax-relevant data and their corresponding original documents, even beyond the confines of SAP systems.
PBS Software further augments its offering with established tools tailored for data extraction and audit necessities: PBS Data Export Interface (integrated into PBS archive add-on CFI), PBS CDART (archive-enabled SAP DART extraction) and PBS CONEX Flex, providing flexible, table-based data extractions.
Outlined below are the key benefits of PC-based access to legacy SAP data:
- Full, PC-based Access to Extracted Data: Effortlessly retrieve extracted data.
- Efficient Processing of Data: Streamline processing of data from both SAP production databases and archived files.
- Support for Analytics: Facilitate the creation of views, reports, and analytic queries.
- Simplified Audit Preparation: Ease the preparation of data for audits and compliance requirements.
- Direct Access to SAP Print Lists: Enable direct access and display of SAP print lists.
In an ideal operational landscape, organizations should conduct their business and decision-making free from tax considerations. PBS Software‘s Enterprise Content Store strives to facilitate seamless tax reporting, payments and interactions, relegating them to the background of an organization’s operational workflow.
