Intelligent Taxmarc logic finally replaces tedious mapping exercises

Published on: 01.12.2023

No more need to identify and map all your scenarios as pre-requisite, instantly reducing project cost by at least 50%.

The need to cut cost and increase efficiency when implementing a tax engine has been clear since 2020, when Taxmarc introduced automated scenario determination to replace mapping.

As the foundation for correct and complete indirect tax determination, a blueprint of 100% of your sales and purchase business transactions is needed. To obtain this blueprint, implementation teams often use mapping and data mining to create the required overview based on large data-extractions. With Taxmarc’s intelligent automated scenario determination, companies that run SAP, whether ECC or S4HANA or both, will no longer need to carry out this time-consuming and expensive mapping exercises.

An example from practice:

In 2019, a global chemical company with presence in 18 countries decided to implement a tax engine to meet compliance standards and prepare for S4H implementation. Instead of a traditional implementation with mapping as the first step in the project, Taxmarc runs a tool that automatically determines their scenarios. This tool is developed in collaboration with one of the Big-4 firms and implemented in spring 2020. In its original form, about 10% of all Sales & Purchase transactions were not correctly determined due to missing parameters. After several iterations, the tool was able to correctly determine more than 98% of all transactions without manual intervention. The remaining balance was resolved within days of putting in the necessary configuration. (Personal reference on request)

The time between having the tool installed and full 100% business blueprint determination is now a matter of weeks rather than months – you can use any qualified Big-4 implementation partner to review the results if required. The use of Intelligent Logic enables Taxmarc clients to implement their tax engine faster and better, with the lowest operational costs. Accelerate your tax engine implementation with Taxmarc Automated Tax Scenario Determination!

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