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retail Receipt4S Stephan Kaup, Consult-SK
Stephan Kaup, Consult-SK
Blog E-Commerce

Legal Compliance In Retail: Are You Prepared?

Cash register security regulations in retail are nothing new, but there are ever more laws and guidelines being implemented, and some questions about them are yet to be answered.

E-3 Magazine spoke with Stephan Kaup, CEO of Consult-SK, about fiscalization in retail.

Mr. Kaup, there have been some new retail regulations passed into law in the past years. What purpose do they serve?

Stephan Kaup: The primary objective of fiscalization in retail and new regulations is to protect cash register data against fraud and significantly simplify accounting and subsequent audits. Standardized digital interfaces are crucial to enable access to all data anywhere, anytime.

What can retailers do to prepare?

Stephan Kaup: I recommend involving your cash registry’s manufacturer in your planning process to ensure that the implementation of cash register security regulations is even possible. Another important aspect to consider are the standardized digital interfaces. Not only do retail companies sometimes have to worry about fees if they do not comply, they also have to think about how to integrate their new and improved cash register systems in their existing SAP financial accounting systems.

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If the cash register is in compliance with all new regulations, does that mean that retail companies are prepared for the digital future?

Stephan Kaup: In my opinion, just focusing on your cash register is not enough. As part of my job, I talk to retail companies every day. While trying to implement the new guidelines, companies often come to realize that they are not even in compliance with existing regulations concerning their financial accounting systems! Companies have to think ahead, which is why Consult-SK offers an SAP add-on called Receipt4S which takes care of historizing and managing all relevant cash register data in SAP and non-SAP systems. Of course, the solution is also capable of archiving and recording changes as well as providing data for audits. The prerequisite to use our SAP retail solution: NetWeaver with an Abap stack. Module-specific components are not necessary as it is based on ArchiveLink. Furthermore, retail companies do not have to worry about SAP’s deadline, extended or not: Receipt4S is available on R/3 and S/4 Hana.

Thank you for the interview.

https://e3zine.com/community/name/consult-sk-gmbh/

Source:
E-3 Magazine March 2020 (German)

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E-3 Magazine

Articles published through E-3 Magazine International. This includes press releases by our partners as well as articles and reports from the E-3 team of journalists.

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