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Finding the best way to manage unclaimed property risk is very challenging, especially if you are filing for the first time and not under state audit. If you find your company is in an initial compliance situation you need to immediately initiate an outreach program and make every effort to contact the owners of the […]
Companies are using Brazil Nota Fiscal to transition off on-premise solutions including GRC NFe, Mastersaf and Synchro to Managed Service Solutions SAP Brazil Nota Fiscal version 3.1 – (Part 1 of 6) OnPremise SAP GRC NFe or a SAP ERP Managed Service Brazil came out with their latest changes in July 2013 – version 3.1 […]
In our continued conversations with multinationals around the new version of the Nota Fiscal process and schema, we continue to find that many companies don’t fully understand the breadth of the legislation. We hope the following checklist should help all managers of global SAP applications and support prepare for 2014. Many companies are even unaware […]
For 2014, Latin America has announced new tax and electronic invoicing policies which will divert IT funding and staff away from strategic initiatives while exposing multinationals to potential operational shut downs and severe financial penalties. If you are running a single SAP global instance or you are implementing SAP ERP in Brazil, Mexico, Chile or […]
I was on the phone with two Fortune 500 companies yesterday to discuss Latin America electronic invoicing. The conversations were similar to many I’ve had over the last few months, they had taken no steps toward implementing Mexico CFDI invoicing either on the outbound side nor on the inbound supplier side and were now in […]
Remember, that the validation of all inbound supplier Nota Fiscals is mandatory. Many companies are still accomplishing this manually. One company had over 15 individuals manually entering supplier invoices into the government portal. Another company had over 20. Yet another company realized they had not audited and archived almost 1 million nota fiscals from their […]
The deadline of January 1, 2014 is less than 3 months away, yet many multinationals have not yet finalized their upgrade to CFDI v3.2. Below are the top 5 questions you need to ask your providers and local teams if you want to meet the deadlines. Many providers will not be able to help companies […]
There is a distinct change in the mindset of multinationals happening. The trend is becoming a reality now, and management – specifically the SAP teams – are realizing the true cost of operating electronic invoicing in Latin America. This is especially true as over 500,000 organizations look to install the new CFDI mandates for electronic […]
Many people who are tasked with filing unclaimed property don’t have an idea where to start. The process itself isn’t so bad, but there are some things you have to understand before you can file. One of those things is which Relationship Code values to use for each property. Did you know that if you […]
As we continue to explore transparency and risks in Latin America, I wanted to continue on the topic of the Foreign Corrupt Practices Act and how it is related to the electronic invoicing issues we discuss all the time in Latin America. The audit exposure is not solely a local issue, the FCPA accounting legislation […]
I read an interesting article the other day, and wanted to discuss the importance of electronic invoicing in Latin America when considering the Foreign Corrupt Practices Act. I think all too often we get focused on the technology and forget the business implications that these e-invoicing mandates can have on our global operations. Here is […]
With Latin America constantly evolving their tax and electronic invoicing policies, corporate SAP teams are left with huge support costs and constant change management requests. With Brazil changing their requirements and mandating the adjustment to version 3.1 by the end of 2014, now is the time to look at the true cost of supporting Nota […]
Should you evaluate an alternative to your current NF-e solution with the new legislation in Brazil? Many companies when first faced with the electronic requirements for electronic invoicing in Brazil turned to their ERP providers. This included SAP, Oracle, Microsega and others. But the lesson learned over the past few years is that the real […]
There is a definite trend for companies using SAP to move away frommanaging in housesoftware solutions because of the maintenance difficulties imposed by the changing legislation in Brazil. Many companies looked at Brazil Nota Fiscal over the past few years as just another invoice process and compliance solution that could be managed by internal staff. […]
In the 5thpart of our series on the dangers of working only with a PAC in Mexico, I wanted to cover support and change management. These are the real cost drivers over the long term but are often not reviewed in the decision process. Why does this get overlooked? Two reasons: