Step 1. Your business
While Innovate Tax already has a complete out of the box Indirect Tax solution, we also need to make sure we understand all your existing and future requirements such as your industry, the type of products you sell and the tax registrations you have.
Step 2. Out of the box
Tax is Tax! It does not matter how your overall system architecture has been designed, tax is not determined by your company but by the countries that collect the tax. As a result, we have developed a best practice approach for the configuration of the Oracle eBTax module that provides an 80% fit right out of the box! This is achieved by running a series of scripts to load in the data – with no code changes.
Step 3. Education
Now we’ve installed our best practice Indirect Tax solution, we need to educate you on how it works! We design the solution based on the reporting requirements. This means we use predetermined rate names and tax logic that is likely to be different to your existing solution. Education means your users see the benefits of the new system at the beginning and adapt their processes and testing accordingly.
Step 4. Feedback
After you understand how the new indirect tax solution works, you’re in a much better position to tell us what you need the system to do. We’ve already installed the 80%, now work with us to get the remaining 20% that will meet all your existing and future requirements. This part of the process allows us to understand your business and capture additional requirements specific to your industry or company.
Step 5. The solution
When we understand your needs, we finish the setup by adding your company’s 20% to the existing 80% already installed. This could be driving the tax from your own project event types or integrating with a third-party product. We test so that it seamlessly integrates with the 80% pre-tested solution. We work with you to ensure your Indirect Tax solution meets all existing and future needs and more importantly that it is efficient and compliant.
Step 6. CopyOnce you have your complete solution in place, or indeed at any point you want to move new code, we can copy the tax by extracting the code.
Step 7. Replicate
Now we can replicate this solution to your other instances! We can take a fully working tax solution in your DEV instance and move it to your CRP, TEST, UAT and even to production all in a couple of hours with NO user error! Compare this to 30 days of manual setup.
Step 8. Repeat
New requirements appear late in the project, but this is okay because we can make and test the new requirements and, once accepted, we transfer them to all other instances. We repeat this process as many times as you need. Not only does this save time but it ensures accuracy and completeness because you are copying a tested solution rather than relying on manual data entry and the risk this brings.