TaxARC™ is a transaction tax analytics and data warehousing solution that empowers your team by providing insightful business intelligence through impactful data visualizations – without the need for IT or the extra burden of time associated with manually extrapolating and manipulating raw tax data.
Designed for corporate indirect tax professionals, business analytics provide powerful trend and outlier intelligence. The automated accrual analysis decreases your tax team’s month-end time commitment while improving overall tax compliance.
With TaxARC™, you can automate transaction tax accrual reviews by:
- Analyzing your tax landscape via robust data visualization dashboards
- Validating vendor-charged tax and tax engine accruals, including automated adjustment functions
- Creating auto-processing rules based on trusted data attributes
- Configuring purchasing location tax rates for accrual determination
- Writing tax adjustments back to your GL accounts
TaxARC™ can also help reduce tax inaccuracies and ensure audit readiness by:
- Importing data from multiple source systems
- Automating tax determination (accept vendor tax vs. accrued tax based on trusted taxable and exempt data attributes)
- Reviewing transactional data prior to finalizing transactions for the current period
- Generating a GL posting file for source system consumption
- Moving finalized data into a dedicated cloud-based data warehouse
- Interacting with a custom business intelligence dashboard to identify areas of tax exposure or overpayment
- Generating ad-hoc reports directly from the data warehouse without IT intervention