Life Sciences Company - Case Study CCH Integrator

Challenge: Consolidated financial statements in an era of mergers and acquisitions

Multiple spreadsheets meant it needed to track and update a vast number of electronic files manually. This proved particularly challenging as it sought to maintain effective controls over its financial reporting while consolidating mergers and acquisitions as part of its global growth.

For its Tax Manager, this meant much time was spent ‘preparing and collecting the data’. Considerable time was also spent calculating whether the data was accurate and, in fact, was ‘the right data’ the team needed. The business faced a lack of transparency in its tax data and reporting processes. Meaning it had no time to value add to the tax compliance and reporting process.

Wanting to streamline its increasingly complex tax compliance and reporting workload, plus enhance its integrated tax governance – it went looking for an industry-specific solution to build the tight framework it needed.

Solution: Reducing manual data collation and review by 50% with CCH Integrator

Going live with a tax technology solution from Wolters Kluwer meant the Life Sciences Company gained upfront benefits and built a roadmap for future success.

The integrated data component of CCH Integrator meant the finance team could easily map the general ledger from its financial statements to the software. Tedious, manual mapping was no longer required, delivering more confidence in the underlying data.