Snapshot of Success: Reinventing Provision
A $2.1 billion, high-performance global energy company needed help preparing their first provision. They faced several hurdles: a looming deadline for their first provision as a newly-divested company; the just-released Tax Cuts and Jobs Act; pressure from management to use technology for faster turnarounds and analytics; and working with data located in three separate systems.
The company chose CSC Corptax® Provision and CSC Corptax® Entity Management to build a new, sustainable workflow for provision. CSC Corptax® Professional Services helped the team implement at warp speed, improve business processes, and ensure that domestic users and foreign controllers were on the same page.
Reporting now emanates from one database with data stored at the right level of detail. This lets the team slice and dice for analytics and helps foreign controllers spot anomalies quickly. Automation accelerates reconciliations saving ~75 hours and frees the team for high-value work.