A large part of corporate tax processing is devoted to data maintenance so that users can collect, organize, and process information. Because tax processing requires an additional set of data compared to the data required for forecasting and valuation of projects, Tax departments are required to go further than Finance departments in order to produce the data from existing sources with the help of Corporate Finance and IT. Worse yet, Corporate Tax departments are doing the same work over and over again for each of their tax cycles.

Because tax processing requires much more tax technical data required by legal mandates which is, in most cases, far more detailed than the finance data needs, it is inevitable that Tax departments will have to collect tax specific data on their own. For example, tax processing requires data to support the foreign base company income computation, which in turn requires intercompany transaction analysis, determination of whether the payor and payee company are in the same country, whether the payee country is considered high-taxed jurisdiction, and so forth. Thus, most tax people collect the information as-needed and breathe a sigh of relief when the task is complete. In actuality, it is no better than untangling a web of wires each time a Tax department needs data and repeating this tedious task during every tax processing cycle.

A better way of dealing with this issue is to do the following

1. Analyze the data required
2. Document the sources of data for each requirement
3. Put in place the system that can provide the data for each processing cycle
4. Integrate the data collection process to the tax computation process
5. Revise and fine-tune the processes as needed

Although being able to perform each of these steps sounds ideal, not many tax people have time to implement them since they are required to put out the proverbial daily fire. In fact, good tax people perpetuate the ridiculous time commitments that have become an expected consequence of producing effective results. Generally, hard working tax professionals produce the tax results management needs regardless of the difficulties of working long hours to ensure that things get done. Because they refuse to let the process fail, companies often tolerate the poor managerial practices of their personnel, regardless of the degree of sacrifice tax people have to make to produce the results. Thus, when a company has hard-working tax people who produce the desired results using bad processes, regardless of difficulty, there is no incentive to make the investment necessary to improve the process. Although in the short term this may be perceived as a solution, good people inevitably will burn out and will ultimately leave the company. Hence, it is in the best interest of corporations to proactively improve tax processes.

One of the recurring issues in process improvement is that tax people, do not the time to dedicate to improving their filing experience. Now that TTI has produced the most comprehensive tax system ever developed, we firmly believe we can help companies develop better data definition and formulate better processes based on our collective experience. Because we are already aware of the data requirement and filing processes, we assure that interruption to the current workload, if at all, will be minimal.

Here is what we provide:

• Data definition analysis
• Process analysis and re-engineering
• New process implementation
• Historical data extraction
• Large data set processing