Purchase Engine

The Taxmarc Purchase Engine automatically determines the indirect tax treatment for incoming invoices posted in SAP based on an SAP purchase order

All indirect tax relevant information needs to be available during indirect tax determination on purchase orders. That includes sales information in case of a 3rd party drop shipment (when the vendor delivers directly to the end customer).

The Taxmarc agent combines the information from, the various documents with the indirect tax relevant information from the actual vendor invoices you receive, automates the indirect tax determination, and verifies the tax on the vendor invoice in real-time against the applicable indirect tax laws. When working in an SAP system, the results will be handled by the integrated Tax Control Framework.

The main advantages of the Purchase Engine are:

  • The indirect tax treatment is automatically determined and validated against the applicable indirect tax requirements (integrated Tax Control Framework)
  • The Purchase engine combines the information from the SAP purchase orders and vendor (master data) with the relevant information from the purchase invoice.
  • The system supports invoice processing without the need to change purchase orders afterwards for indirect tax reasons only.
  • Smart condition technique (an average of 150 condition records per jurisdiction).
  • Efficient and effective use of employees. Manual operations in the financial department, Accounts Payable (AP) or the Shared Service Center will mostly be avoided.
  • Indirect tax training, providing and updating manuals, and web-based instructions through decision trees are no longer necessary, since the indirect tax regulations are incorporated into the Tax Engine.
  • Information from invoice scanning tools or e-invoicing tools will be included in the automated Indirect tax determination (e.g. the vendor registration number used on the invoice).
  • Because invalid transactions will be blocked at the earliest point in your process, incorrect tax data will not make it into your financial postings.
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