Success Story High Tech

Multinational Tech Company Creates a Single Repository for its Global Tax Needs

Tax reporting technology solutions

Global tax reporting is a complex process that involves functions beyond just accounting – enterprises must regard global tax reporting as a critical component of achieving business growth.

This Multinational Tech Company wanted to integrate all the teams under its ambit that deal with indirect tax reporting across its worldwide offices since global tax auditors need combined reports for filing returns.

The challenge

5 key areas

An initial assessment of the customer’s situation revealed a number of hurdles.

Inconsistencies

Inconsistencies Inconsistencies stemming from timing errors and aggregation rules

Automated Extracts

Automated Extracts Lack of automated extracts into central tax compliance package

Consolidated Tax Repository

Consolidated Tax Repository Lack of a consolidated tax repository for compliance and audit

Tax Penalties

Tax Penalties Manual tax adjustments while filing leading to penalties

Scalability

Scalability Lack of scalability

The solution
3 key areas

Apexon devised a solution to create a tax hub data repository using an Informatica ETL Data pipeline and PowerBI to:

Deliver reports on KPIs

KPI Reports Deliver reports on KPIs related to vendors, customers, VAT rates, VAT registration levels, VAT positions, inter-company goods/services movement

Integrate Source Systems

Integrate Source Systems Integrate 26 different source systems into a single tax repository to cater to global tax reporting needs

Develop Tools

Develop Tools Develop cubes, dashboards, and self-service reports

.home-insight-section.innerpageinsights{display:none;}