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AUTOMATED TAX PROCESSING THROUGH DISTRIBUTED AGILE, OUTCOME-BASED ITERATIVE TRANSFORMATION APPROACH, FOR A GLOBAL INSURANCE GIANT

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CLIENT

 

A global insurance provider was facing below mentioned challenges -

  • Inefficient and intensive manual processes for all aspects of tax across 90+ countries
  • No centralized web-based system for tax planning, reserving, provisioning, tax filing within global tax function
  • Need to integrate process management engine with tax provisioning and filing systems

 

SOLUTION

 

 

Through our distributed agile, offshore-onshore global delivery model, which leverages outcome based iterative process automation approach, we helped the client to -

  • Orchestrate end-to-end complex tax processes for TAAA, FIN48, VAT
  • Generate custom complex reports for business operations
  • Automate 60+ tasks by using the RPA Framework that were invoked via BPM actions both assisted and unassisted, resulting in enhanced customer experience, lowered cost and increased control (3Cs)
  • Allow access to status updates to interested parties through self-service foundation
  • Automate scanning and digitization of tax forms using OCR
  • Establish centralized documentation management and tax library content management

 

BENEFITS

 

 

Completed the complex tax processes within defined SLAs and turnaround time was reduced for provisioning and filing of taxes

 

Business payable taxes were reduced and deductibles to protect 1B+ in deferred tax assets were maximized with improved tax planning

 

60 processes were automated, freeing 35+ FTEs

 

100% compliance adherence