Automating tax processes for an international bank

Background

A multinational financial services organization turned to Keyrus for assistance in improving their data processes as well as how they present their analysis.

Challenge

The organization wanted to improve the process for real-time tax provision forecasting. Prior to this project, the process required significant manual time for creating visuals in Excel, manually analyzing and checking to see the largest variances, and then highlighting those in an ad-hoc section of a PowerPoint. This was long, tedious, manual, error-prone work, and it was expected to be done monthly.

Approach

• Created an automated, repeatable process using Alteryx to ingest the data from the different teams and create a data source that the new Tableau dashboard would connect to directly • Created a Tableau dashboard to highlight tax variances, enabling users to drill into details to understand the drivers of these variances • Trained the internal team to ensure they could support the new solution

Key results

Benefits

The resulting process is more efficient, scalable, and has a much lower risk for human error. The company saves two weeks per month of manual effort and eliminated the average five monthly mistakes that slowed down reporting. The c-level can also drill into the numbers to better understand forecasting changes without relying on the operations team to take time to explain results. Overall, the organization has significantly more confidence in their data.

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