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David Deputy
David Deputy

Untangling the data management process

Not all tax data warehouses are the same.

July 26, 2012
by David Deputy

Emerging tax data warehouse technology is poised to provide a quantum leap in risk reduction and transparency. But all tax data warehouses are not the same, with vital differences and strengths originating in how the technology is architected.

At the same time, tax professionals tasked with researching and evaluating emerging tax data warehouse technology often lack the IT savvy to understand key differences in the various options. Yet, understanding the technological approach is vital to finding a solution that truly meets their company’s tax needs.

Understanding that an effective tax data warehouse has certain basic requirements (accurate, open, flexible, and auditable), makes it easier to evaluate the varied approaches to building a tax data warehouse and how they impact the tax function and company overall.

A closer examination of the current technology landscape reveals four distinct approaches that tax professionals should understand, both in how they’re built and how they impact the organization:

  • Custom tax data warehouse project
  • Modification of the finance warehouse
  • Tax-focused commercial product
  • Existing tax application(s) feature

 

Each of these approaches is best understood in how it fits a company’s needs based on:

  • Do-ability: Is it realistic to think it could actually get done within the corporation? Does the organization have the skills, resources, and ability to get the project approved?
  • Affordability: Is there a budget to get it done?
  • Usability: If implemented, would it meet the company’s specific needs?
  • Integrate-ability: How well does it interact with the company’s variety of financial and tax systems (both upstream and downstream) in an automated manner?
  • Maintainability: How well does it address not only today’s tax environment but tomorrow’s as well? Will it still work for the company based on growth and changes in regulations, technology, and organizational structure?

 

This white paper is designed to help tax professionals understand the complexities and claims of tax data warehouses, and takes a deeper look at how each approach fits a company’s needs.

For more, download the white paper Untangling the Data Management Process

As director of Tax Data Management & Intelligence for Vertex, David Deputy brings over 20 years’ experience in ERP, tax analytics, and business intelligence software solutions. Prior to joining Vertex, Deputy was senior product manager at Liquid Engines and lead product manager at Oracle for its financial consolidation solution. Deputy holds an MBA from Cornell University and a finance degree from the University of Florida.