Solution

Tax, Audit + Office of Finance

Deliver improved and increased transparency, reconciliations, and efficiency

Calculators. Spreadsheets. Now Alteryx.

Data enhances the value of the Tax, Audit, and Finance functions. Rapid changes to regulation and an analytically-literate workforce drives significant innovation in areas as diverse as general ledger management, cost center controlling, payroll and accounts payable.

Alteryx helps users across Tax, Audit, and the Finance Office to significantly reduce the time and effort spent manually gathering data, reconciling business and legal entities along with generating their internal and regulatory reporting. Now you can change the focus from spreadsheet-driven data manipulation to repeatable, collaborative analysis and insight, plus incorporate advanced analytics modeling and forecasting to give quicker responses to executives, auditors and regulators.

Explore the analytic possibilities with a free trial of Alteryx

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WITH SELF-SERVICE DATA ANALYTICS FROM ALTERYX, YOU CAN:

  • Improve quality of reporting to management, auditors or regulators by providing increased transparency into the financial calculation processes, and delivering self-service capabilities for ad-hoc requests or modelling scenarios.
  • Improve depth of analysis by reducing the manual reconciliation, review and manipulation steps in data processing, and enabling next-level analytic forecasting and model scoring.
  • Reduce risk exposure by performing more strategic tax, audit and financial analytics, backed by a governed analytic pipeline that meets increased stakeholder scrutiny and global regulatory compliance.

 

TAX

If you've used difficult-to-maintain spreadsheet solutions, you'll quickly see the value of evolving your process to visual, repeatable workflows. From worksheets to workflows, using effective tax analytics around tax rate calculations, cash tax forecasting, tax provisions and returns, book-tax reconciliations, and audit-ready reporting is the solution for a robust strategy.

Now you can adapt your tax analytics with the Alteryx platform to achieve applied decision-making and strategic forecasting including correlation analyses to identify drivers of effective tax rates plus disparities between statutory and rates, forecast effective and cash taxes, use optimization to determine optimal transfer pricing patterns, and conduct ‘what-if’ analyses ahead of M&A.

 

AUDIT

Imagine if you could get a complete analytical view of audit processes across compliance: fraud detection and investigation, risk assessment, operational performance, and internal controls. With a traditional tax and audit strategy, gaining a deeper understanding in the auditing process, using code-free and code-friendly capabilities to identify anomalies and classify potential irregularities, is just not possible.

By adapting to a self-service analytics workbench, it's easy to perform end-to-end process testing and control validations plus lower existing and future audit costs through scheduling and automation of data collection, preparation, and analysis. You'll produce earlier identification of high-risk patterns in spending, codes of conduct, and across a network of partners and suppliers, leading to enhanced audit coverage and better management of risks and controls.

With the Alteryx platform, now you can communicate and deliver analytical insights through self-service analytic applications. Plus, it's designed for non-technical business decision-makers, bringing the audit function closer to business stakeholder needs.

 

FINANCE

Getting full visibility across key financial management systems is challenging without the ability to access and blend all relevant financial data from your internal systems and those of partners and suppliers.

With the Alteryx platform, it's possible to bring together data from multiple accounting ledgers and consolidate these for statutory reporting and sub-ledger account analysis. You can also manage diverse and unstructured data sources to create high-quality reconciliations and standardized master data records using fuzzy-matching and pattern recognition. Plus, performing risk weighted asset calculations for capital, interest rate risk modelling, sensitivity analysis and liquidity reporting, and compliance is a lot simpler with code-free and code-friendly analytic capabilities in leading open-source libraries from R or Python.

Alteryx every function in the finance team and watch data dazzle before your eyes, not to mention collaborate with teams in ways you never thought possible. Share and reuse analytic effort through an integrated and financial analytics business glossary. Work together with finance colleagues using standard financial metrics--Net Present Value, Compound Annual Growth Rate, Internal Rate of Return and many more--without the limitations and restrictions imposed by spreadsheets.

     

    ADAPT YOUR ANALYTICS STRATEGY

    There is a demand from analysts to prepare, blend and analyze data from all sources, without writing any code and without dependencies on the IT organization.

    Exponential growth in data itself is a reality. Data no longer resides in a single enterprise source (such as a financial data warehouse), instead it's likely housed in multiple locations, such as ERP systems, billing systems, commerce platforms and more.

    Evolve to the next level of tax, audit and finance analytics across your organization and join the best-in-class organizations building on their foundations to reduce the substantial waste in current collection and reconciliation processes. By automating these steps, you free yourself and the other experts from manual steps, allowing for more time on strategic analysis.

     

    Explore the analytic possibilities with a free trial of Alteryx

    Download Now

     

    Use Cases

    The Impact of Tax Code on Customer Bills

    A Corporate Tax Department is not typically associated with a Business Intelligence team sleekly manipulating and mining large data sources for insights. Alteryx has allowed our Tax Business Intelligence team to provide incredibly useful insight to several branches of our larger Tax Department. Today, almost all of our data is in Excel or csv format and so data organization, manipulation and analysis have previously been accomplished within the confines of Excel, with the occasional Tableau for visualization. Alteryx has given us the ability to analyze, organize, and manipulate very large amounts of data from multiple sources. Alteryx is exactly what we need to solve our colleague’s problems.

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    5 Months to 5 Minutes

    Trinity Industries manages hundreds of thousands of rail cars from a fixed asset tax reporting perspective. Their systems were not configured to allow them to effectively manage each asset and as a result they were forced to use Excel to create reports not only to report to the company leadership but to the IRS as well.  We built several Alteryx workflows to allow them to consume reporting data from their accounting system, perform "fuzzy" matching on their asset numbers, and present the data in an appropriate manner as needed by each stakeholder. 

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    Month-End Cost Assurance Review

    As part of Controllership’s month-end cost assurance process, the team would run GL line item queries for six Corporate organizations from our reporting system, map in master data information, segregate the data by expense category, and create pivot tables in order to review financially material postings for accuracy. The process was very time-consuming and we developed a use case for leveraging Alteryx to automate the process and remove this effort from the hands of the end-user.

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