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SAP DRC Applications

What is SAP Document and Reporting Compliance (DRC) Application?

The SAP Document and Reporting Compliance application creates and submits legally binding reports in accordance with regulations.

You may set up, produce, examine, and electronically submit statutory reports such as VAT returns using SAP DRC. The numerical results presented in these reports follow the rules and regulations established by the relevant authority. Transactional data is contained in legally regulated formats in statutory reports.

The program facilitates statutory reporting for a variety of countries, including Australia, the United Kingdom, and the United Arab Emirates. To ensure that your business always complies with local laws, the reports are routinely updated in compliance with the most recent reporting standards in the entire country or region.

Additionally, you can combine data from several sources into the cloud database and use this information for group reporting.

Services Offered by SAP DRC

✓ In order to replicate data to the cloud, it defines and connects to several source systems. It configures data replication and tests the connection with various source systems. It can see logs of modifications made to the configuration of the source system.

✓ It uses report categories to define reporting entities. It sets the values of report-specific parameters and reporting levels. It defines notification settings and sets validity for reporting activities. It sets authorisation at the reporting entity and reporting activity levels.

✓ It transfers company data to the cloud database from your source systems. It monitors the transmission of data and fixes data upload issues.

✓ It produces reports in legally acceptable formats, such as PDF, XML, or JSON. To fix mistakes in submitted reports, it generates correction reports. It produces customized reports. It regenerates the report output file and manually changes the report data. It monitors the status of reports.

✓ Based on a variety of dimensions and metrics, it analyzes report output data for reports that have been prepared.

✓ The SAP Document and Reporting Compliance service facilitates the integration with enterprise resource planning systems (at the moment, SAP S/4HANA or SAP S/4HANA Cloud) to enable online submission of generated reports to the relevant authority.

✓ It configures report submission units for various legal identity numbers and submission service kinds. It electronically submits reports to the appropriate authority.

✓ It manages user authorizations by putting users in pre-established authorisation groups that have access controls.

✓ The database's outdated transactional, configuration, and master data are deleted. Upon contract expiration, it deletes all of your data from the database.

What Applications Does SAP DRC Include?

The following applications are included with the service:

Configure Source Systems: It allows you to specify the source systems from which data duplication is required.
Configure Reports: It enables you to configure reports and set their periodicity, user authorisation, reporting actions, and validity.
Collect Report Data: You can use Microsoft Excel templates and APIs to replicate the data.
Run Statutory Reports: This feature allows you to generate and submit reports to the government.
Setup Report Communication: This feature allows you to set up report submission components for online report submission.
Report Communication Logs: It allows you to view logs of report submissions.

Get Consultation for SAP DRC Applications

Benefits of SAP DRC

For businesses adopting eInvoicing globally, SAP DRC offers a variety of advantages, including simplified legal requirement compliance, increased efficiency and accuracy, and centralized control of eInvoicing operations.

There are many benefits to using SAP Document and Reporting Compliance (DRC), including:

✓ It assists in complying with regulations and avoiding penalties from the law.
✓ It improves tax verification and transparency while lowering the possibility of noncompliance.
✓ It complies with international regulations in a dynamic digital environment.
✓ It lowers overall cost of ownership for complying to international regulations.
✓ It boosts operational flexibility to implement regulatory requirements that can optimize your IT environment.
✓ It improves the precision and dependability of data recorded in SAP systems.
✓ It provides easy interaction with SAP ECC and SAP S/4HANA.
✓ It safeguards the company's reputation.
✓ It improves efficiency through the centralization of document and report handling.
✓ It provides easy interaction with SAP ECC and SAP S/4HANA.

To sum up, SAP Document and Reporting Compliance is an effective tool for businesses looking to manage and oversee their documents and reports inside of SAP systems. This solution offers a centralized and organized method of document management with support for many different countries, languages, and legal systems. A comprehensive solution that easily connects with SAP systems is made possible by the combination of the eDocument Cockpit, SAP Integration Suite, and eInvoicing iFlows packages.

The required statutory reports are automatically prepared by SAP Document and Reporting Compliance in the legal format requested by the authorities. Tax specialists can make adjustments that are traceable and have access to more audit-proof records with the ability to dive down to the core business documents. The system assists users in lowering the risk of noncompliance by providing information regarding tax deadlines, approvals, and automated submission to the authorities.