Success Story High Tech
Multinational Tech Company Creates a Single Repository for its Global Tax Needs
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 tax repository solution offers the customer a range of benefits:
An initial assessment of the customer’s situation revealed a number of hurdles.
Inconsistencies Inconsistencies stemming from timing errors and aggregation rules
Automated Extracts Lack of automated extracts into central tax compliance package
Consolidated Tax Repository Lack of a consolidated tax repository for compliance and audit
Tax Penalties Manual tax adjustments while filing leading to penalties
Scalability Lack of scalability
Apexon devised a solution to create a tax hub data repository using an Informatica ETL Data pipeline and PowerBI to:
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 26 different source systems into a single tax repository to cater to global tax reporting needs
Develop Tools Develop cubes, dashboards, and self-service reports
