Tytho Teams with GE and Thomson Reuters

ROTTERDAM, Netherlands - Nov. 18, 2014 - PRLog -- Earlier this month in Washington D.C., Rotterdam Tax Automation firm Tytho B.V. took the stage for one of two November presentations highlighting their involvement with important innovations in the world of tax technology.

This first presentation was part of Synergy 2014, Thomson Reuters’ annual tax technology users conference.  It featured a panel discussion led by Tytho associate and  ONESOURCE Indirect Tax Determination integration expert Wendy Fischnaller.  The panel members were Tytho managing partner and SAP expert Martijn van Hoof, GE’s SAP Practice Lead Veronica Lopez, and Stefan Blumer, who is the creator of Global Next integration for SAP and Thomson Reuters’ Senior Director of Technology.

A GE case study opened the session, led by Veronica Lopez, which shed light on GE’s choice to implement ONESOURCE Indirect Tax Determination with the Global Next connector.  This was one in a series of projects that GE and Tytho are teamed up on.  Global Next has solved some key issues for large multinationals operating with plants abroad, deferred VAT, and downpayments, as well as resolving some of the previous connector (5.x) issues with SAP standard reports.  These notable improvements, along with a desire to centralize reporting and consolidate ERP and determination solutions, helped to clarify Global Next as GE’s clear choice to make.

The following discussion, titled “Why Integrate with Global Next?” aimed to further identify the main selling points for the new product.  Information given was based on Tytho’s partnership with GE, the panelists’ expertise on the relatively short but active history of tax determination solutions, as well as Stefan Blumer’s insights.  Revealed highlights of the product’s capabilities included:

o   New Field Mapping Tool is easy to use, can eliminate >80% of need for         developers;

o   Reduced footprint of ONESOURCE, since abandoning RFC connection.

o   Enablement of Standard SAP Reports

o   Complex transaction support

o   Greatly Reduced IT burden, during and after implementation;

o   New Logging methodology makes troubleshooting easier and less disruptive;

o   Solution is scalable, meaning once set up, rate changes are handled by Thomson Reuters, resulting in a reduced maintenance burden after implementation;

Several sessions during the Synergy 2014 Conference in National Harbor, Maryland, shared a common theme:  Global Next Integration for SAP is the future of indirect tax technology, and will continue to improve with several minor releases planned in the next couple of years.   There is a lot of excitement among industry professionals about this product, and the excitement certainly seems warranted.

The second presentation Tytho has planned for this month will occur in London, as part of The 5^th Annual Conference for VAT Compliance Through SAP Control, at the Kensington Close Hotel November 19-21^st.  Tytho Managing Partner Martijn van Hoof will lead a learning lab focused on Tytho Indirect Tax Logic; a new offering which supports complex transactions through native SAP tax functionality, while remaining configurable and transparent.  “Strategy:  Making SAP Work for VAT in your End-To-End Supply Chain”.  Learning Lab C, November 19, 15:00-17:30  http://www.sharedserviceslink.com/event/aligning-tax-and-...