Tax Data Classification
Automating the data classification for tax purposes
The annual tax computation preparation process can be burdensome, inefficient, and time-consuming for many companies. This is largely due to the amount of work required to classify large volumes of data.
Deloitte has developed a web-based tax data classification tool to automate the analysis of breakdowns for tax purposes. Using unique text search logic, the tool identifies and categorizes line items efficiently, reducing the impact of human error and identifies areas previously not possible to categorize easily.
The output of the classification can be fed directly into your tax computation, with little (if any) need for additional analysis.
- Saves time (approximately 85%) and money using an automated process
- Reduces compliance risk with more accurate results
- Provides transparency with a full audit trail and management reporting
- Adapts to client needs through a flexible service delivery model
For more information, contact James Whyman.