Oracle Announces New Hyperion Tax Provision Module
By Mike.Hallett-Oracle on Feb 21, 2013
Oracle Hyperion Tax Provision allows customers to collect, calculate and report on the consolidated tax provision and more closely align tax with financial reporting.
Built on the Hyperion Financial Close Suite, Oracle Hyperion Tax Provision is a web-based tax application that addresses the full scope of the global tax provision process.
Oracle Hyperion Tax Provision replaces the highly manual methods used by most organizations with an automated and standardized process that increases efficiency. Furthermore, it integrates with tax compliance software and improves the overall compliance process by providing a more streamlined book-to-tax process.
Integrated with Oracle Hyperion Financial Management, Oracle Hyperion Tax Provision is based on the same technology trusted by thousands of finance organizations to ensure the accuracy of financial reporting.
“We believe that a corporate tax provision process that is not closely aligned with the financial reporting process may expose companies to unnecessary risk and inefficiencies. Aligning corporate tax and finance systems may greatly enhance the ability of tax departments to execute their responsibilities more effectively,” said Michael J. Johnson, performance management technology leader for Deloitte’s Tax Management Consulting Practice.