With the tax function currently undergoing a period of rapid digital transformation, adapting to new cloud-based technology has never been more important.
Technology is profoundly impacting the tax function. Investor expectations have shifted in favour of real-time financial transparency. Boards faced with the prospect of greater scrutiny and heavier penalties are seeking assurances regarding tax accuracy and transparency. Domestic regulators are driving enterprises for more detailed, rapid reporting, and for multinationals the challenge is magnified – all while the time cost of compliance continues to increase.
That is where Wolters Kluwer’s global tax platform, CCH Integrator, can be a game changer. A flexible, cloud-based tax platform, it automates your organisation’s ongoing reporting processes and flows it into your income tax return, across global tax territories. Greater control over the capture and calculation of your data means you can make the right tax decisions and achieve superior tax governance and risk management to meet the requirements of stakeholders, regulators and tax authorities.
CCH Integrator is a complete tax solution with transformational potential when it comes to tax compliance, tax reporting, and tax data management.
Andy Hung, Wolters Kluwer’s Director, Professional Firms & International, CCH Integrator and Kim Olsen CA, Head of Product, Enterprise Software, discuss how the CCH Integrator tax platform helps organisations transform employee and customer engagement, drive business process efficiencies and lift the quality and integrity of tax data for analysis, review and reporting.
How does CCH Integrator streamline the complexity of tax compliance and reporting across multiple entities and jurisdictions?
Hung: CCH Integrator is a specialist tax platform that provides corporates and professional services firms a single look and feel to manage multiple tax regimes, reporting requirements, languages and currencies from anywhere in the world. Smaller organisations can leverage our out-of-the-box solutions. For larger, more complex organisations, CCH Integrator can be flexed and configured by the user to adapt to its business processes (and not the other way around), all the while without any code changes and expensive customisations.
The product has a proven track record of saving enterprises significant time in transforming data by providing a single source of truth and streamlining the supply chain of tax data from management reporting to tax provisioning, and through to the tax return.
Can you tell us more about how the platform assists with tax compliance, tax reporting and tax data management?
Olsen: In simple terms, CCH Integrator is a cloud-based automation tool to help enterprises manage the collection of tax data, collaborate internally as well as externally, calculate their taxes and finally report that data to the intended audience. As a single platform it can manage all your taxes: direct tax, indirect tax, and tax transfer pricing. Because CCH Integrator provides a solution for tax provision and tax return, you can easily reconcile your trial balance, accounting profit, tax profit, tax adjustments and Country-by-Country Report disclosures, providing evidence to the tax authority of your tax governance and risk framework in action.
It has all the tools to ensure that what is lodged with the tax authority meets the tax authority’s requirements so that your tax obligations are reported accurately, reducing the risk compared with bespoke spreadsheeting, for example.
CCH Integrator is your source of truth for tax purposes, automatically becoming your tax data management solution. The type of tax data held to determine your tax position, such as commercial, transactional and other business data, provides business intelligence to influence and help other business decisions that go beyond tax.