Saving time, effort and costs in group financial reporting and tax compliance

We have just completed a very interesting mini-project with one of our customers with some substantial benefits for the group financial reporting team, the tax team and the accountants in each of the entities. There is a large overlap in the data required to support the consolidation and statutory reporting process performed by the group financial reporting team with the data required to support the tax computations and compliance work by the tax team. Both teams were using state-of-the-art solutions for their specific jobs, but they were duplicating the data acquisition effort to get trail balance and key transactional data from the entities. Our solution was simple. Collect the data once and use it twice. If you have best-of-breed solutions for consolidation and for tax, but would like to achieve further benefits from data acquisition automation, drop me a line to geoff@cfogrp.com. Of course, if you don’t currently have state-of-the-art solutions for either statutory reporting or tax compliance, then please make contact and we can point you in the right direction. Geoff Noble, Managing Director, CFO Group.

The CFO Group is a global provider of enterprise performance management systems to large, complex corporations and national and state governments. Our customers use these systems to manage their planning, budgeting, and forecasting processes, and the subsequent monitoring, analysis and reporting of actual results.