Roadmap to tax function effectiveness

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INSynQ

The Key Group and INSynQ announce their strategic partnership. We have developed as you can see in the next articles various KG SAP add-ons and SAP solutions for VAT automation. Together we will also provide high-quality SAP VAT consultancy services to our clients.  

INSynQ operates from Eindhoven, The Netherlands. The 35 consultants have on average more than 15-years experience in SAP software. INSynQ has implemented about 100 End-to-End global SAP implementations. Marinus Peters, as a Partner, takes responsibility for the SAP VAT related activities. Marinus and his team will be closely working together with Richard Cornelisse and Lucia Nezvalova to support clients.

Richard Cornelisse, Managing Director of Key Group:

"We realize with this partnership more efficiently together than either one of us could do separately for VAT SAP-related services and products. Such synergies result from the ability to exploit economies of scale and gaining a critical size that justifies further expansion. We are now able to combine the resources of our two companies to satisfy client needs in this area." 


Marinus Peters, Partner of INSynQ:

"Closely related to this is our objective of innovative SAP product development and our mutual desire to expand and diversify our product lines and also provide 'high-end' SAP VAT consultancy services."


Take aways 

We combine technical knowledge with industry understanding and knowhow of technologically advanced tools and methodologies available in the market or developed by ourselves.

  • Focus on tax processes that could be improved
    • Manual process: same data requests are made by different stakeholders
  • As Is assessment
  • Anticipate future changes and the data needed
    • What are tax trends?
    • What is happening locally and what should be considered across jurisdictions where you operate?
    • Anticipate new stakeholders and their data needs or requests (internal and external)
  • Define scope and actions for short, mid and long term
  • Write business case for change
  • Realize sponsorship for implementation
  • What tax data is requested and by whom?
  • What tax process can be improved and what can be automated?
    • CIT, VAT, tax data warehouse
  • What is the Return on Investment?
    • Hard saving: process improvement
    • Meeting (new) tax requirement
  • What systems are in use: SAP, Oracle, etc
    • By which entities?
  • How many end-use computing tools (e.g. excel spreadsheet) do we have?
  • How do we avoid an ad-hoc solution?
    • Understand the bigger picture
    • Real problem and not the symptom

Technology-related tax risk: understand and address the potential harms and benefits of (new) technology.

Ascertaining proper IT support for ensuring efficient, timely and reliable reporting.

VAT should be considered in every aspect of the process, from concept through completion and beyond. Managing by design — looking at any process or transaction from end to end and factoring in all the requirements and controls essential to designing and optimizing a compliant VAT process.

We speak the language of the business and IT and no translation is needed.