CSC Corptax® customers from coast-to-coast voted New York Life’s Tax Transformer Awards story Improving the Provision from ExHELL the Winner! Check out a synopsis of how automation streamlines the provision process and improves life for the team.
Client
Founded in 1845, Fortune 100 New York Life Insurance is America’s largest mutual life insurance company.
Challenge
New York Life (NYL) struggled with Excel® to handle quarterly and year-end provisions. They lost time maintaining numerous complex workpapers containing countless formulas and links.
Solution
Streamline the process with a sustainable in-house solution. Connect Corptax accounts to the NYL general ledger and use CSC Corptax® Data Exchange Manager to import historical data from Excel into Corptax.
Results
NYL automates 60% of adjustments and accelerates work by using standardized workpapers and letting Corptax Office push and pull data. By using standard Corptax reports, business units better understand the provision process.
