Key factors that tax payers should consider while selecting the ASP

#ASP is not just a service provider who provides a layer above the #ERP for #einvoicing, but a bridge in ensuring #VAT compliance. Selecting an ASP is not an IT decision alone, it is a tax governance and risk management choice. Hence, onboarding the right ASP is critical.

1. #RegulatoryApproval:

2. #Standards:

The ASP should support #Peppol and ensure seamless exchange across networks, including cross-border compatibility and not just local compliance.

3. #ERPIntegration:

Not just being able to handle volumes and have a multi-entity environment but integration with the ERP (SAP, Oracle, Dynamics …. or legacy systems) is a must!

4. #TaxLogics:

Robust VAT validations, speed in enabling changes notified by the FTA, error handling and reconciliation support will be critical.

5. #DataConfidentiality:

The tool will integrate with the ERP – goes without saying, confidentiality is important. Need answers and confirmations for (i) where is data residing (ii) will the data be used for any other purposes by the ASP or will it be distributed (iii) access restrictions (iv) compliance with UAE data protection laws.

6. #Performance:

Should be able to handle peak invoice volumes without latency or failure, especially for large B2B and retail businesses.

7. #AuditTrail:

Availability of logs, acknowledgements, dashboards, and data extraction in the desired formats for audits.

8. Post go-live support:

Response times, escalation mechanisms, local presence, speed in enabling changes notified by the FTA.

9. Impact of failure of an ASP:

Should not, but just in case the ASP fails, it could impact business continuity and trigger ownership issues of the data lost in addition to regulatory non-compliances in the short-term.

Key factors that tax payers should consider while selecting the ASP