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FTSE 100 Oil and Gas Company Implements Bespoke Tool for Effective Tax Reporting
Top Oil and Gas Company completes a major project to replace its UK tax consolidation system for group reporting - with the help of tax technology specialist Tax Automation
Tax Automation’s highly flexible solution is able to produce tax provisions for the entire UK arm of this business and addresses the issues that made the previous software complicated and cumbersome. While the old system consisted of multiple complex Excel spreadsheets which made tax reporting disjointed and complicated, the new system, also based around Excel, includes all parts of the business and merges all previous processes into one, culminating in a single spreadsheet.
Bryony Clinton, Commercial Director for Tax Automation comments: “We spent a lot of time talking to all the relevant people in the business to understand their needs, and then we tailored our solution to suit their requirements. We’ve set up the solution to allow tweaks and changes, and it’s been extremely well received by the tax advisors who are using it. Building the solution required people with advance programming skills combined with tax knowledge who were able to meet very challenging requirements, and I’m pleased to say that we delivered on time to a very demanding schedule.”
The new solution is completely bespoke and was completed within eight months. Passwords have been set for individual templates to protect certain parts of them. The templates are also compatible with Microsoft SharePoint as the business uses this program to manage all of its files seamlessly.
A tax advisor from this FTSE Oil and Gas Company comments: “Having Tax Automation run this project reduced the amount of time I needed to spend on it. We set Tax Automation a series of target milestones in terms of when we wanted certain iterations to be produced, and they met every one. The fact that the team had such in-depth tax knowledge was a huge bonus and the Excel functionality that the team produced was extremely advanced - we wouldn’t have been able to do this ourselves.”
He concludes: “We’ve not had any problems since the system was implemented and it has proved to be very reliable and flexible. I wouldn’t hesitate to recommend Tax Automation to anyone who is looking to turn complex, fragmented tax reporting templates into an easy to use and single reporting tool.”
To view the full case study, please go to the website (http://www.taxautomation.co.uk/
Notes to Editors
Tax Automation is a specialist provider of tax reporting software and consultancy services to in-house tax departments of large corporates. The business boasts a team who have a collective wealth of experience in both complex tax rules, regulation and reporting as well as a thorough understanding of specialist tax software. Tax Automation software products provide organisations with greater certainty in decision making and tax reporting by providing the right knowledge and accurate tax information. Today Tax Automation has a host of blue chip customers that include BAE Systems, Prudential, Schroders, Standard Chartered, United Utilities, Severn Trent, ITV and Heineken.