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  • 1

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    Invoiceware is now a Sovos Compliance Company. Learn more at sovos.com

    Invoiceware Solution

    Presentation

    11.3.16

  • 2

    Click to edit Master title styleIntroductions

    Daniel Wain Sales Director

    Augusto LopezSolutions Engineer

    Slide 2

  • 3

    Click to edit Master title styleAgenda

    Introductions

    LATAM Compliance As a Service Impact on Business and IT

    Orders to Cash Solution Requirements

    The Real Cost of Compliance: Build, Monitor, Maintain

    Customer Invoicing and eContabilidad Reporting Demo

    Mutual Action Plan for Evaluation

  • 4

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    LATAM Compliance

    AEOI

    Sales Tax

    VAT

    10-Series Compliance

    ACA

    About Sovos Compliance

    30+ Years of Success

    Category leader with over 3,000 clients

    Average client partnership of 10+ years

    98.8% client retention rate

    Serve nearly 50% of the Fortune 500

    Risk Mitigation

    Operational Efficiency

    Scalability

  • 5

    Click to edit Master title styleMultinationals Trust Invoiceware

    Regional Latin America Platform

    Covers AR, AP & Reporting for Brazil, Mexico, Chile,

    Argentina, Colombia, Ecuador, Uruguay & Peru

    Use your investment in SAP

    Lower IT Support & Change Management Costs

    Eliminate SAP ERP Configuration & Support issues

    End-to-end support in Portuguese, Spanish & English

    Fixed Cost to Implement & Maintain

    Employee Productivity

    Increase employee productivity by 25% with a single SAP

    monitor for end users

    Built-in business process automation to eliminate manual

    data entry tasks and shut downs

    Peace of Mind - Audit Defense

    SAP ERP is the system of record, not 3rd parties

    Fiscal reporting and transactional compliance from a single

    solution

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    Business Recap

    Business Processes and

    Implementation Plans

  • 7Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of Taxware and Sovos Compliance except under express written consent.

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    Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of Taxware and Sovos Compliance except under express written consent.

    Mexico Seller/Buyer Transaction Process

  • 8Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of Taxware and Sovos Compliance except under express written consent.

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    Proprietary and Confidentialthe information and materials in this document are not for use or disclosure outside of Taxware and Sovos Compliance except under express written consent.

    Current LATAM Audit Fulfillment Process

    SAP Updates Country Mandates and Solutions

    Middleware

    Invoice

    IDOC

    AP AR Reporting

    XML

    Government

    Agencies

    Unique Accounting Reports SPED

    eContabilidad

    Libros

    PAC

  • 9

    Click to edit Master title styleCompliance Impact on the Business

    Revenue Issues

    Increased DSO as invoices not paid due to compliance issues

    ~10% of invoices have collection issues

    Logistics Issues

    Missed Customer Shipments 3PL penalties resend trucks Increased receiving costs upwards of 70%

    Accounts Payable Costs

    300% increase in cost of manual operation vs. automated

    5%-7% missed deductions equals cash flow

    Audit Penalties

    $50-$4,000 dollars per transactional issue Loss of tax status e.g. company loses

    favored Maquila status, increased rates

    VAT Issues KPMG 2015 Study

    34% of company gross sales 340% of Net income One the companys largest cash flows

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    Click to edit Master title styleMexico Mandates and PenaltiesPenalties for Poor Reporting and XML

    $300-$4,602 per missing/incorrect invoice

    $15 - $4,092 per invoice that does not match accounting records (eContabilidad)

    Up to $200 fine for each transaction that should have been posted in the delinquent or inaccurate Polizas

    Increased risk of direct electronic audit by SAT for compliance errors

    2016 Issues

    Rumblings of 3.3 CFDI Schema Change

    Inbound Procurement your invoices dont have the UUID, needs to match and align to the FI posting in SAP

    Gastos (T&E) & Nomina (Paychecks) issues within Polizas

    Expectation of end of life for Amparo exception for reporting, even with an Amparo, SAT will require eContabilidad XML for remittance theyll even come to your office to pick it up!

    Starting to share data with US/Canada for purchases from Mexico RFC

  • 11

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    Sovos LATAM Compliance

    Proposed Solution Suite

  • 12

    Click to edit Master title styleInvoiceware Compliance and Localization

    Operational Compliance Support 8 countries Turn-key, natively integrated, Rapid Deployment Templates for

    SAP in Brazil, Argentina, and Mexico Not just software, not just implementation full-service,

    providing ongoing support in production in either Portuguese, Spanish or English as needed

    Compliance Updates and Upgrades included in fixed fee

    Fiscal/Statutory Compliance (SPED, E-Contab, Libros) Rapid Deployment Templates extend the SAP reporting

    framework to fill gaps and address customizations needed for company specific validations

    Maintenance updates included in annual fee

    SAP Localization Consulting Decades of knowledge and experience implementing SAP

    localization in Latin America Flexible Engagement Model Firm, Committed Deliverables

  • 13

    Click to edit Master title styleInvoiceware Compliance As a Service (CaaS)Outbound Billing Advantages

    SAP User management console

    Automated Contingency to avoid shipping issues

    Automated Cancellations & Corrections

    Inbound Accounts Payable Advantages Okay to Deduct ensure invoices are

    compliant

    Okay to Pay automate PO, Invoice, GR matching

    Audit Defense ensure XML backs up reports

    Fiscal Reporting SAP is system of record, not local 3rd party

    database

    Change management fixed fee

    Data validations ensure accuracy prior to filing reports

  • 14

    Click to edit Master title styleAR Outbound Invoicing

    Integrated Archive Access

    AutomaticProcessing Grid

    Cancel Inv with SAT and in SAP

    Manual Processing Grid

    All Signing Attributes Included

    Full Loop

    Regenerate Addenda for Customers

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    Click to edit Master title styleAP Inbound Invoicing

    Revalidate XML: You should have ability to revalidate XML as a supplier could cancel an XML days after first sending. This process ensures that time stamp and validation happens when XML received as well as when payed (could be days later)

    5 Year Archive: Integrated archiving, so can access XML and PDF from SAP monitors

    UUID and Signing Attributes: UUID automatcially posted to SAP once validated with govt and all signing attributes for audit included in SAP monitor

    Process Automation: XML linked to a PO or processed along with SAP MIGO

    Fiscal Compliance: XML Invoice collected and status updated inside of SAP

  • 16

    Click to edit Master title styleInvoiceware Extractor and Real Time Connector

    Standard SAP Extractor SAP SD Data SAP FI Data SAP MM Data Customer Master Country

    Localization Tables

    Government FileStandard Extractor +

    Delta File = IDOC

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    Click to edit Master title styleReal Time Data Connector

  • 18

    Click to edit Master title styleInvoiceware Compliance Network

    Cloud Service

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    eContabilidad

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    Click to edit Master title styleeContabilidadMatching to SAP Master Data

    Matching Sales: Match on Invoiceware Z-Table, link

    from SAP Billing Document number to Accounting Posting

    Purchases: Match RFC_EMISOR + SERIE + FOLIO.

    Nomina: Assess during project.

    Gastos: Assess during project.

    Upload

    Nominas from external HR/Payroll system

    Gastos from external travel expense system

  • 21

    Click to edit Master title styleReporting Sales, Purchases, T&E, Payroll

  • 22

    Click to edit Master title styleValidation Reports Missing UUID

    View/Filter

    Edit/Update

  • 23

    Click to edit Master title styleCompliance Defense

    Validation Reports UUID to Combat Big Data Audits

  • 24

    Click to edit Master title styleCompetitive Landscape

  • 25

    Click to edit Master title styleLATAM Human Capital Requirements

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    Expertise

    Technology Leadership

    Client Success

    Why Sovos Compliance?

  • 27

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    50+ dedicated tax compliance researchers

    14,000+ jurisdictions monitored

    200+ international localities supplying tax research

    Leadership providing guidance on relevant

    regulatory committees

    Efficiency, Compliance & Peace of

    Mind

    Focused Expertise

    Technology Leadership

    ClientSuccess

    Tax Compliance Expertise

    100% dedicated to tax compliance

    and reporting solutions

    We transf