Success Story - Transamerica

Challenge

The Transamerica state tax team faced several challenges around gathering and analyzing apportionment data for 80+ entities to process 300 state tax returns.

• Many entities have disregarded LLC’s that roll up to the legal parent; it took more than a week to gather and organize data before apportionment analysis could begin
• Process included extracting data entity by entity and manually rolling up to the legal parent
• Spreadsheet often crashed, creating inefficiency when trying to consolidate apportionment for combined and consolidated reporting
• Entire return process took 2-3 weeks from analyzing data to reviewing results on the return

Solution

We implemented numerous efficiencies using CSC Corptax^® Office and POV functionality.

Results

With POV pulls, we implement a faster, more efficient process to analyze apportionment by state methodology, and perform data driven reviews for state returns:

• Save 200+ hours of work compared to our process last year
• Pull a large amount of data out of Corptax in an organized fashion in a pivot table format
• Gain time back to quickly analyze, review, and make sure data makes sense
• Achieve year over year comparisons, allowing us to start returns earlier and with more efficiency
• Begin analysis after the first data pull instead of spending a week organizing data pulls for one entity at a time