Over- Reliance on Spreadsheets Raising Concerns About Data Accuracy and Internal Controls
The study, about the tax reporting process, conducted by Business Finance, included a survey of more than 240 tax and finance professionals at a wide range of companies, both in size and revenue.
The top 3 findings of the study include:
- More than 50% of respondents use spreadsheets for the tax reporting process
- Organizations spend almost twice as much time collecting data as they do analyzing it
- Accuracy of data is the top concern amongst tax professionals
About Longview Tax
Longview Tax streamlines and automates tax data collection, tax provisioning and tax planning for today’s global organizations, employing best of breed data management and global collaboration capabilities. Using Longview’s open technology, information is automatically collected from any source system in any currency creating a single repository of financial information.
Benefits At A Glance
- Increase tax provision speed, accuracy, transparency and auditability
- Integrate the entire tax process from book close to tax provisions to tax returns and back
- Improve efficiency through standardization and automation of tax calculations
- Reduce time and effort to calculate tax provisions and file tax returns
- Invert tax’s focus from 70% compliance to 70% planning
- Tax is a part of the Longview Platform for Performance Management
For more information please visit www.longview.com/tax
About Longview Solutions
Longview Solutions provides corporate performance management (CPM) software that leading companies like Trustmark, Time Warner, Home Depot, JC Penney, and GE Healthcare use to drive performance with speed, visibility and financial integrity. Since 1994, many of the world's most respected companies have been using our technology platform to create a single repository of financial
truth from which statutory consolidation, management reporting, financial planning, modeling, analysis, budgeting, forecasting and tax reporting can be performed quickly and accurately, enterprise-wide. Longview is an Exact Software company headquartered in Toronto, Canada with additional offices in Philadelphia, Chicago (USA) and London (UK).
For more information please visit www.longview.com
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