Business Challenges and Objectives

The client wanted an automated solution to collect data for tax compliance, consolidate, and report, effectively replacing the manual process:

• The manual process was error-prone, and inflexible, making it difficult to create reports.
• Replace the MS Excel-based tax data collection solution for the multinational corporation with 400+ legal entities, each having its accounting systems.
• The new Base Erosion and Profit Shifting (BEPS) reporting would help the client in:
  • Simplifying the data collection process.
  • Having a single source of information.
  • Having the ability for robust reporting.

The Solution

The TekLink experts implemented a highly automated and standardized solution for tax data collection with SAP BPC reporting capability. The solution includes:

• Implementing BPC 10.0 Standard on HANA to collect, consolidate, and easily report data, thus standardizing the tax collection process.
• Creating a system that can support more than 600 users while collecting the data from disparate source systems.
• A multi-model architecture to collect data with different levels of detail.
• The detailed models roll up to a single summary model with automated data flows for data consolidation.
• The automated system ensures easy data uploads/entry, data flow across models, BEPS Table 1, and Tax Compliant Report Generation.
• The standard input forms and reports for all entities ensure ease of transition from the legacy processes and provide a standard tax collection process.
• Straightforward user training to increase end-user adoption.

Key Benefits

• Reduction in errors due to the automation of the process.
• Increased ease of navigation through input forms and reports.
• Reduction in consolidated reporting process time.
• BPC as a single source of information for all the Tax-Related Information.
• The new system ensured increased data integrity.
• Flexible reporting and increased user satisfaction.