Chevron Leverages Corptax and Microsoft, Gaining Insights in Minutes vs. Weeks

Challenge

Every month, Chevron’s tax analysts wrestled with a five-day window to analyze crucial P&L reports, tax basis balance sheets, and M adjustments. To give a conglomerate the size of Chevron its proper due in so little time, the team deserved fast, efficient access to key tax and financial data.

Centralizing data in Corptax was a huge step forward — but Chevron’s data-sharing process limited access and relied on handling, moving, and refreshing data manually — leading to delays and mounting frustration.

A swift, seamless way to access an undisputed single source of truth and share it with decision-makers across the organization became a top priority.

Solution

The Chevron team set up direct and dynamic connections between Microsoft’s Cloud Platform and Corptax using CSC Corptax® Web Services API.

Next, they transformed data into real-time dashboards via Microsoft Power BI — and used Microsoft Power Automate to regularly refresh data — ensuring stakeholder dashboards imparted insights based on current information.

Results

By integrating Corptax API and Microsoft Power Automate functionality, Chevron overhauled their validation processes, calling the results “remarkable”.

With accuracy virtually guaranteed and a system tailored to Chevron’s vast needs, they remove substantial risk from provision, sourcing, tax basis calculations, and federal form filings. Further, the transformation eliminates manual updates and ensures Tax-generated dashboards reflect the latest data. Predefined thresholds within the dashboards streamline analysis and empower data-driven decisions, reducing a weeks-long review process to mere minutes.

In short, Chevron’s new automated data access and analytics method:

  • Provides instant insights that used to take weeks
  • Saves ~140 hours compared to manual routines
  • Allows everyone, even non-Corptax users, to access current data in seconds
  • Ensures the global tax team works with a single source of truth

Chevron isn’t stopping there. They’re poised to redefine additional workflows using their advanced digital platforms, including development of a mini data lake — all nurtured by Corptax data.

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