IBM makes strides to automate its tax and statutory reporting with AER Solution

Published on 28-Aug-2013

"The IBM Accelerated External Reporting Solution process will also allow for a much higher level of management visibility over not only the statutory reporting workflow, but also the processes within the workflow. This visibility will allow us to make better decisions on staffing and execution" - Christopher Gullotta, Director – IFRS Policy and Implementation and Statutory Reporting at IBM

Customer:
IBM

Industry:
Computer Services

Deployment country:
United States

Solution:
BA - Business Analytics, BA - Business Intelligence, BA - Risk Analytics, Big Data, Big Data & Analytics, Big Data & Analytics: Transform processes, Business Integration, Business Performance Transformation, Business Resiliency, Data Warehouse

Overview

For most companies, the need to file regular reports with financial regulators and tax authorities, and the gathering, amalgamation, analysis and reporting of data for each of the legal entities within their group, can often be a significant challenge.

Business need:
With a complex business model that operates in hundreds of locations and has varying legal entities from country to country, IBM wanted to cut the cost and complexity of its global statutory and tax reporting processes, while gathering the rich data it needs to enhance financial analytics.

Solution:
IBM has developed the IBM Accelerated External Reporting Solution, which provides a seamless end-to-end process for gathering and validating financial data and producing statutory and tax reports – quickly, accurately and with minimal manual effort. The solution is based on a combination of proven IBM technologies, which enables rapid, low-risk deployment.

Benefits:
The solution streamlines data-gathering and external reporting for both statutory and tax environments. It empowers financial analysts by eliminating manual work and supporting deep-dive analytics. It will potentially save millions of dollars annually on staffing, consultancy and audit costs for statutory reporting.

Video

This video captures how the IBM tax and statutory reporting team have utilized the AER Solution platform to provide consistency and automation to their reporting processes. AER Solution is a stack of IBM products including CDM, BV, TM1, and DB2.


Products and services used

IBM products and services that were used in this case study.

Software:
Cognos TM1, Cognos Business Intelligence, Cognos Business Viewpoint, DB2 Warehouse Manager, Cognos Disclosure Management

Legal Information

© Copyright IBM Corporation 2013. IBM Corporation, Software Group, Route 100, Somers, NY 10589. Produced in the United States of America. August 2013. IBM, the IBM logo, ibm.com, Cognos and TM1 are trademarks of International Business Machines Corp., registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the Web at “Copyright and trademark information” at www.ibm.com/legal/copytrade.shtml. Microsoft, Windows, Windows NT, and the Windows logo are trademarks of Microsoft Corporation in the United States, other countries, or both. This document is current as of the initial date of publication and may be changed by IBM at any time. Not all offerings are available in every country in which IBM operates. The client examples cited are presented for illustrative purposes only. Actual performance results may vary depending on specific configurations and operating conditions. It is the user’s responsibility to evaluate and verify the operation of any other products or programs with IBM products and programs. THE INFORMATION IN THIS DOCUMENT IS PROVIDED “AS IS” WITHOUT ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND ANY WARRANTY OR CONDITION OF NON-INFRINGEMENT. IBM products are warranted according to the terms and conditions of the agreements under which they are provided. The client is responsible for ensuring compliance with laws and regulations applicable to it. IBM does not provide legal advice or represent or warrant that its services or products will ensure that the client is in compliance with any law or regulation. Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice, and represent goals and objectives only.

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