Hello everyone, welcome to PWC TextWite Podcast series.

In this third episode of our mini series on the future proofing of your statutory reporting function,

I'm very happy that I can welcome Kim again in this third episode and Kim is member of our global statutory center of excellence

and also Brecht is a member of our global center of excellence on e-invoicing and

e-reporting. And with Kim and Brecht I want to talk about the end state, the ideal end state

in this third episode, dual ledger accounting. How can you ensure that you meet the local statutory and tax requirements

while maintaining your local statutory ledgers in your business ERP?

In other words, what should you do as a global company

to get the most future-proof statutory porting model in place?

Kim, how do we start with this?

Well, Peter, let's maybe first start with the design of the ERP.

Currently, a lot of companies are going through an ERP transformation project,

moving from an on-premise version to a cloud version.

Whether they are using SAP, Oracle Workday, or any product in the Microsoft suite,

for all of them, the same momentum applies as a technical design of the cloud is different

from the on-premise version. Such a transformation project is the ideal moment in time

to better design for stat and tax.

Often techs and consequently all sorts.

That is still overlooked and doesn't have a seat at the table in these projects.

And if they do get a seat at the table, they are mostly not involved as from the start.

That's a huge misopportunity because some of the

key building blocks for an optimal set and text process lie in a structural core design setup of the ERP,

...