Innovate to Automate Today’s Provision
As a result of new reporting requirements and a growing workload, Zurich North America’s tax team faced increased responsibility and more stringent deadlines.
We operate with an “innovation” mindset, which allows us to become a simpler, more innovative company well-equipped to adapt to the changing environment. Accordingly, we optimized our use of CSC Corptax® solutions to fulfill additional provision requirements timely and efficiently.
- Automate workpapers using Corptax POV to populate a tax note disclosure for the Annual Statements for the insurance companies, significantly cutting preparation time and enhancing accuracy
- Post multiple automated adjustments with Corptax Cart for each reporting basis with a click of a button, and re-post just as quickly if book numbers change
- Integrate SAP AO reports with CSC Corptax® Office, allowing us to quickly pull book balances and push manual adjustments to Corptax—as well as to populate journal entry templates—all within one workpaper
- Automate what used to be manual entries into our Corptax auto adjustment workpapers and provision tables, avoiding manual data entry into three separate cases
- Simplify posting of the STAT-to-IFRS adjustments using Case Selector to reduce the need to copy data
- Automate our trial balance data import process with use of RPA, replacing a highly repetitive process performed by admins under tight quarterly close deadlines and enabling preparers to upload TBs even during off-hours
- Automate the system back-up process via RPA, eliminating the need for admins to perform this process early or late in the day