Adapt your ERP software to legislative changes

In this article, we discuss a very significant regulatory change that has taken place recently and how first-rate ERP solutions, such as SAP Business One, let SMEs stay up-to-date on these issues. We will also analyse some of the main features of this application so you can find out how it makes it easy to adapt to the new laws. Don't miss it!

Legislative changes, ERP and the anti-fraud law

The anti-fraud law, and more precisely Law 11/2021, has already gone into force. Throughout this publication, we will use it as a reference to demonstrate the need for an ERP to guarantee compliance with legislative changes. This law includes a series of tax reforms to bring Spanish law in line with European Union regulations.

But what is most interesting about this new law? One of its changes has a profound effect on accounting, billing and process management software. Now, any program that allows companies to keep track of their finances must include certain anti-fraud measures. These measures prevent the destruction and modification of records to avoiding concealing invoices and secret accounts.

The records that are kept using any management software must be complete, unalterable and accessible. They must not allow for any alterations or omissions, and they must be stored for the required duration. This is certainly a delicate issue that is difficult to implement, especially if the required tools are not available.

A serious issue with consequences

Having software that enables double accounting is considered a serious violation. The fines can be as high as 50,000 euros when systems or programs that do not comply with the anti-fraud law, or, in other words, that are not properly certified, are used.

Legislative changes and ERP should go hand in hand

The anti-fraud law is just one example of how things can change when legislative reforms are implemented. In all, complying with new regulations is not always easy for many companies, especially SMEs. So what's the best solution in this case?

Relying on software that is constantly updated. Solutions that are not continuously developed will become obsolete sooner or later. This can cause a company to not comply with legal changes and to be punished for violating the law.

Going back to the anti-fraud law, you might ask yourself the following about the management programs you currently use:

• Do they make it possible to keep double accounts?
• Do they allow records to be changed after a transaction has been confirmed?
• Do they allow for partially or fully concealed entries?
• Do they have the technical capacity to guarantee the integrity, preservation, accessibility, legibility, traceability and inalterability of the records?
• Are they easy for the Treasury and other agencies to read?
• Have they been certified by the Ministry of Finance?

If you're not sure how to answer these questions, what should you do?

How to adapt an ERP to legislative changes

Management programs with accounting and billing modules must now meet much more stringent requirements. We'll explain the steps you need to take to ensure your company is in compliance.

1. Consult your service provider

The ERP application implemented in your company must have a service provider or developer. We recommend you ask it if the tool it provided is set up to comply with the new anti-fraud law. And you should do the same whenever other regulatory changes are approved. Whether the software is local or in the cloud, see if it has received or will receive the updates it needs to comply with the laws in your country, especially any recently approved laws.

2. Update the system to comply with the law

Once you get an answer from the developer or vendor, you will know what steps to take. For example, you may have to implement a new program or update the one you already use. Or you may be told that you are already using the latest version, meaning your company is up-to-date.

3. What should I do if I don't get the help I need?

If your software vendor doesn't give you the help your business needs, your best option might be to consider transitioning to a more effective solution. Without going any further, the features of SAP Business One are already adapted to the new regulatory framework. So companies that have this product can rest easy: they are in compliance with the legislative changes.

The peace of mind of working with SAP Business One

There is a reward for investing in the highest quality tools. SAP, a developer of digital solutions for companies, takes its responsibility towards its partners very seriously. As a result, both suppliers and customers can rest assured that all their operations are in strict compliance with the applicable regulations.

There is no doubt that SEIDOR and SAP Business One are the perfect combination. As an SAP vendor with a solid track record, we can help you implement the leading ERP solution on the market so you don't have to worry about any new legal developments.

If you're concerned about complying with the new anti-fraud law and you're not sure that the software you use to manage your SME is up to date, contact us. We'll advise you from the outset so you can make the best decisions.