Technology is profoundly impacting the tax function. Investor expectations have shifted in favour of real-time financial transparency. Boards faced with the prospect of greater scrutiny and heavier penalties are seeking assurances regarding tax accuracy and transparency. Domestic regulators are driving enterprises for more detailed, rapid reporting, and for multinationals the challenge is magnified – all while the time cost of compliance continues to increase.
That is where Wolters Kluwer’s global tax platform, CCH Integrator, can be a game changer. A flexible, cloud-based tax platform, it automates your organisation’s ongoing reporting processes and flows it into your income tax return, across global tax territories. Greater control over the capture and calculation of your data means you can make the right tax decisions and achieve superior tax governance and risk management to meet the requirements of stakeholders, regulators and tax authorities.
CCH Integrator is a complete tax solution with transformational potential when it comes to tax compliance, tax reporting, and tax data management.
Andy Hung, Wolters Kluwer’s Director, Professional Firms & International, CCH Integrator and Kim Olsen CA, Head of Product, Enterprise Software, discuss how the CCH Integrator tax platform helps organisations transform employee and customer engagement, drive business process efficiencies and lift the quality and integrity of tax data for analysis, review and reporting.
How does CCH Integrator streamline the complexity of tax compliance and reporting across multiple entities and jurisdictions?
Picture: Andy Hung, Wolters Kluwer’s Director.
Hung: CCH Integrator is a specialist tax platform that provides corporates and professional services firms a single look and feel to manage multiple tax regimes, reporting requirements, languages and currencies from anywhere in the world. Smaller organisations can leverage our out-of-the-box solutions. For larger, more complex organisations, CCH Integrator can be flexed and configured by the user to adapt to its business processes (and not the other way around), all the while without any code changes and expensive customisations.
The product has a proven track record of saving enterprises significant time in transforming data by providing a single source of truth and streamlining the supply chain of tax data from management reporting to tax provisioning, and through to the tax return.
Can you tell us more about how the platform assists with tax compliance, tax reporting and tax data management?
Kim Olsen CA, Head of Product, Enterprise Software.
Olsen: In simple terms, CCH Integrator is a cloud-based automation tool to help enterprises manage the collection of tax data, collaborate internally as well as externally, calculate their taxes and finally report that data to the intended audience.
As a single platform it can manage all your taxes: direct tax, indirect tax, and tax transfer pricing. Because CCH Integrator provides a solution for tax provision and tax return, you can easily reconcile your trial balance, accounting profit, tax profit, tax adjustments and Country-by-Country Report disclosures, providing evidence to the tax authority of your tax governance and risk framework in action (for example, Justified Trust to the ATO).
It has all the tools to ensure that what is lodged with the tax authority meets the tax authority’s requirements so that your tax obligations are reported accurately, reducing the risk compared with bespoke spreadsheeting, for example.
CCH Integrator is your source of truth for tax purposes, automatically becoming your tax data management solution. The type of tax data held to determine your tax position, such as commercial, transactional and other business data, provides business intelligence to influence and help other business decisions that go beyond tax.
CCH Integrator is trusted by some of the world’s best-known enterprises. What are some advantages for corporates operating across multiple jurisdictions?
Hung: One big advantage is that it allows our clients to work anywhere around the world in any language. Additionally, because it is cloud-based, it provides an open channel to collaborate between a company and its tax adviser, irrespective of geographical location.
Another benefit for enterprises, and one that really stands out for me, is that CCH Integrator is a code-free configuration platform. That means that we can very efficiently configure the solution to adapt to an enterprise’s specific business processes, structure and ecosystems without the need for them to code and spend significant resources developing an in-house solution. It also means that we can respond quickly to regulatory change to make sure our users are never kept waiting.
When it comes to implementation and configuration, what sets CCH Integrator apart as a proven, global solution?
Olsen: We pride ourselves on seamless implementation and configuration. When a professional services firm or company implements CCH Integrator, we work with them to configure the platform in a manner that reflects and accommodates their particular needs, which are always different.
Our business, from our leadership down, is made up of passionate tax technologists with extensive experience working in this specialised area for both corporates and professional firms. We believe in the customer experience and making sure what we develop and what we implement and configure meets the needs of tax domain experts.
Given today’s uncertain conditions, how do you ensure CCH Integrator stands the test of time now and into the future?
Olsen: We have a very strong track record of adapting to change and it’s a big reason why the product is continuing to grow and be used by companies and professional firms around the world.
CCH Integrator is used by more than 350 corporations in over 80 countries, including the top 10 financial institutions in Australia, all Big Four professional services firms and 40% of the ASX 200.
But the tax regulatory environment is continuing to evolve and change, and so are we. We continue to invest in CCH Integrator for our customers, focusing on harnessing technology to automate processes and ensure the seamless flow of data through their ecosystems to minimise low value activities and the double handling of information. That way, we keep organisations a step ahead by increasing control, reducing risk and freeing tax functions to focus on adding value to the organisation.
Click image to enlarge. CCH Integrator integrates and automates ongoing processes.
Andy Hung: A self-described “tax geek” with qualifications in taxation, law and international studies, and a background in corporate advice and financial services, Hung has a depth of experience in transforming tax-reporting functions. Today, as Director, Professional Firms & International, CCH Integrator at Wolters Kluwer, he brings his insight into ‘best practice’ technology transformations that facilitate end-to-end connectivity between corporations, advisers and regulators through the CCH Integrator platform.
Kim Olsen CA: After completing degrees in accounting and law, Olsen worked for a number of years as a tax adviser at EY before building a career with Wolters Kluwer around the world – New Zealand to Australia, a stint in the United Kingdom, and now back in NZ. In this time, she has developed a forensic understanding of Wolters Kluwer’s flagship compliance and reporting platform, CCH Integrator, and what the customer needs from their tax platform. Now as Head of Product – Enterprise Software, Olsen has a clear vision of CCH Integrator as one of the leading corporate tax platforms in the world and what it will take to get there.
Find out more:
To start your tax technology transformation download Wolters Kluwer’s Corporate Tax Technology Buying Guide. It will step you through all you need to know.
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