| Liquid Engines ITx at Work
Tax management is becoming a critical part of the overall strategic
planning process for the enterprise. C-level executives are no
longer viewing the corporate tax department as a back-office function
that simply completes and files tax forms. Instead, today's tax
professionals are increasingly being asked to participate in core
business strategies and decisions. To effectively contribute at
a strategic level, they need to have global visibility into the
impact of the tax strategies that are being implemented, be aware of the impact of legislative changes, and be able to manage and anticipate risks that could have long-term
impact on shareholder value and company reputation.
Meeting these requirements is easier said than
done, however. Strategic tax management is complex and requires in-depth modeling
to efficiently evaluate variables, such as the impact over multiple
years, different currencies, and jurisdictions. In addition, with
the increased emphasis on and requirements for transparency and disclosure,
it is no longer acceptable to simply present the "answer" to
a tax management strategy. Today, any scenario must be well
documented, auditable, and defensible—as well as accurate.
To streamline tax modeling, analysis, and management, Liquid
Engines ITx integrates tax functions that
might normally be separated, provides flexible modeling capabilities,
and offers built-in tax intelligence. Its robust modeling capabilities
are more flexible, timely, thorough, and accurate than traditional
matrix spreadsheet models. Liquid Engines provides international
tax professionals with enhanced visibility and availability of
tax information, increased self-sufficiency, and
greater confidence in their tax decisions. At the same
time, ITx comprehensively tracks information
changes and decision-making processes to bring organizations
into compliance with transparency and documentation requirements.
Armed with ITx, international tax professionals are able to positively impact the company’s bottom line by efficiently and effectively managing the overall U.S. income tax effect of:
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