Increasingly, organizations are looking for ways to automate their tax processes. Not surprisingly, since tax automation reduces the amount of repetitive manual activities. At the same time, it improves the quality and reliability of tax reporting. The newly launched Taxvibes helps organizations to make tax automation easier.
A lot has been said and written about the use and abuse of spreadsheets in Finance. Consulting firms, software vendors, and the likes love to blame the spreadsheet for its risks and inefficiencies. They often promise that all those issues will magically disappear when you get rid of the ‘Excel hell’. But in reality, Excel is not that easy to get rid of.
More and more companies are starting to automate their tax processes. Not surprisingly, as tax automation makes your tax accounting faster, easier and more reliable. And the good news is that you can now use your OneStream XF platform for your end-to-end tax reporting. Tax expert Bas van Eijk and OneStream consultant Jorrit Jan Boonstra explain how to move your tax processes from Excel to OneStream XF. Which benefits will this move give you? And what will it look like?
Governments around the globe demand more transparency and information from multinational companies, increasing the risk of controversy. Country-by-country reporting requires a robust collection of relevant data in a consistent format across the international group. The reality is that companies battle with diverse ERP systems, data formats, and collecting structured and unstructured data.
Tax provisioning is a highly complex area that is in both the tax and the accounting domain. Within many Finance departments tax is often conceived as slowing down the close cycle as a whole. The new rules on uncertain tax provisions (IFRIC 23) can add to the complexity. In our webinar we have shown how these changes might affect your tax position.
Louwman Group, one of the largest automotive companies in Europe, is innovative and ambitious. The family business wants to be able to adequately respond to the rapidly changing trends in the mobility world with new revenue models. The implementation of Board supports this ambition with improved processes for integrated planning, consolidation, and tax reporting.
Real estate company W.P. Carey has to provide separate tax reports for over 250 entities in 30 countries. The multinational company wants to make its tax processes less labor intensive and less time consuming. The Anaplan Tax App replaces 250 Excel-spreadsheets, which makes the processes faster and more stable.
The process of tax provisioning causes peaks each reporting period. The internal process of retrieving and evaluating all relevant data for the tax closing process makes this workload even heavier. Fortunately, a new Tax Provisioning Template for OneStream XF can make your entire tax process more effective.