What is a Clean Core Strategy?
A Clean Core strategy in Enterprise Resource Planning (ERP) revolves around ensuring that your organization leverages the latest releases with minimal core system modifications, all while embracing cloud-compliant extensions and customizations.
It’s about finding the perfect equilibrium between the stability of standardization and the flexibility to innovate. By standardizing your ERP processes and data, your business gains access to more industry best practices while having the freedom to customize where needed to set itself apart.
In a strategic move towards advancing financial digitalisation, the Minister for Finance of Ireland has announced an impending public consultation, aiming to enhance and modernize VAT Invoicing and Reporting System within the nation. This initiative, stemming from strategies delineated in the 2024 Irish Budget, encompasses exploring and potentially incorporating continuous transaction controls and e-invoicing. Meanwhile, the nation attentively observes the EU’s ‘VAT in the Digital Age’ reform package, with a vision to harmonise digital reporting across the EU. Amidst these transitions, the pivotal role of digitalisation emerges not only as a facilitator of simplified tax reporting but also as a tool to bridge the considerable VAT Gap, which currently stands at an impactful €1.7 billion.
