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Success Story - CNO Financial Group

Improving Efficiency, Accuracy, and Control through Automation


CNO Financial Group relied on 200+ Excel® spreadsheets and manually input 200+ adjustments every quarter for tax provision and compliance reporting. Data manipulation required manual detective controls for completeness and accuracy. Completing this largely manual process created numerous challenges:

  • Higher probability for spreadsheet errors, including hard-to-find broken links
  • Deferred tax inventory not dynamically updated making reconciliation to the ledger difficult for quarterly reporting purposes
  • 10Q/10K footnote support was primarily generated from linked Excel worksheets and manual adjustments
  • Inability to quickly evaluate state tax impact for tax planning opportunities and re-domestications
  • Lack of consistency in the chart of accounts used for RTP resulted in reporting classification differences and a prolonged year-end external audit
  • Difficulty incorporating federal and state audit adjustments into tax reporting—particularly the impact on NOL carryforwards


CNO uses a technology-driven, agile solution to improve reporting quality and efficiency. Now, the team:

  • Automates the trial balance load and processes all batches using CSC Corptax® Data Exchange Manager
  • Leverages CSC Corptax® Office to push/pull financial adjustments between Corptax and the general ledger
  • Dynamically populates 10Q/10K footnote supporting schedules and automates NOL carryforward and rollforward schedules
  • Develops current and deferred state tax schedules with analytical reporting using the Corptax POV data connection
  • Aligns RTP account mapping, ensuring consistency and minimizing unnecessary true-up adjustments
  • Incorporates all federal and state audit adjustments in Corptax


  • Saves 40 hours per quarter on time spent loading trial balances
  • Uses 30 vs. 200 Excel spreadsheets, improving general ledger information
  • Saves 20 hours on year-end audit support by eliminating classification true-ups between the provision and corresponding tax return
  • Reconciles deferred tax inventory to the trial balance without exception each quarter
  • Efficiently prepares 10Q/10K footnote workpapers, gaining flexibility and accuracy for late adjustments
  • Generates entity-level state tax current and deferred tax information quarterly to quickly assess tax planning opportunities
  • Seamlessly incorporates federal audit adjustments from recently completed examinations into net operating loss rollforwards