Why Gesiecke+Devrient selected CCH Tagetik for their taxation report?
The decision to choose CCH Tagetik for their BEPS Pillar Two reporting needs was driven by G+D's exhaustive impact assessment, considering their status as a global corporation with over 100 subsidiaries and joint ventures.
During this assessment, it became apparent that there were missing the biggest portion of data points required to calculate BEPS Pillar Two regulation. CCH Tagetik Global Minimum Tax will help them to collect and map the remaining portion of data points required coming from other business sources, not uniquely from tax and finance.
What are the advantages in leveraging of the existing financial platform (CCH Tagetik) to extend it into tax processes?
Leveraging their existing usage of CCH Tagetik as the central hub for their Office of Finance, G+D opted to capitalize on the CCH Tagetik Global Minimum Tax solution, reducing internal disruption and minimizing the need for extensive user training.
What are the main benefits that Gesiecke+Devrient achieved with the implementation of CCH Tagetik Global Minimum Tax?
The benefits of this strategic decision include:
- Ensuring timely compliance with regulations
- Reducing total cost of ownership (TCO) by leveraging a technology capable of meeting both BEPS Pillar Two requirements and other Office of Finance reporting needs
- Engaging users who are already familiar with the comprehensive workflow of the solution
- Facilitating timely calculations and mapping of the missing requirements
- By aligning with CCH Tagetik and utilizing their robust solution, G+D is well-equipped to navigate the challenges posed by BEPS Pillar Two while streamlining their reporting processes and maintaining compliance efficiently.
