Red Moon Solutions, True Partners Consulting and Intelysys, Inc. Present The Next Generation of Global Tax Management
Dec 9, 2008
Sarasota, FL, December 9, 2008 – Red Moon Solutions, a premier provider of specialty tax software solutions along with True Partners Consulting and Intelysys, Inc. presented The Next Generation of Global Tax Management at the Chicago Tax Club’s 55th Annual Fall Seminar. The presentation showcased how one US based manufacturing company evaluated their total tax risk and has taken steps to mitigate these risks. Essentially, it illustrated how the solution trio helped align this publicly traded company’s tax IT strategy with a holistic vision of its tax function to incorporate people, processes and technology.
Tax executives are faced with the ever-complex global tax environment and are forced to look at the total risk of their tax function (Total Tax Function Risk is defined by True Partners Consulting as the sum of finance risk, operational risk, tax technical risk in relation to its integration risk). It is the proper alignment of people, process and technology within the tax function, effectively integrated with all business processes, which will allow an organization to achieve the next generation of global tax management. Moreover, by looking at tax risk in a holistic manner, incorporating all components driving risk for a tax function, the next level of tax risk management can be achieved.
The solution trio of RMS, TPC and Intelysys has achieved success in providing a holistic solution including technology automation, task risk management and advisory, along with implementation and reporting. Specifically, their solution consisted of reengineering the tax function accordingly:
- Creation of accounting data store to capture all accounting data monthly
- Creation tax data store to capture all tax calculations and results
- Implementation of a tax portal
- Use of a single tax calendar
- Implementation of OLAP Analytics and Reports
“We are thrilled to be a part of the next generation of tax management solution created in concert with True Partners Consulting and Intelysys, Inc.,” comments Kelley Lear, Managing Director, Red Moon Solutions. “Our portion of the solution, the implementation of OLAP analytics and reports, is accomplished using PowerOLAP®, a powerful, yet affordable, business intelligence tool that provides fast, flexible analysis, reporting and business modeling. Tax professionals love PowerOLAP because it leverages the tools and expertise they already possess.”
To learn more about how to evaluate total tax risk and how to take steps to mitigate them, view the presentation or contact Kelley Lear at 941.379.7108.
About True Partners Consulting
True Partners Consulting is a world-class tax and business advisory firm that integrates “Big Four” technical expertise with creative problem-solving and the passion of an advocate, resulting in a fresh approach that helps clients realize their financial goals. We currently have more than 200 tax professionals in seven locations: Chicago; New York; Los Angeles; San Jose, Calif.; Tampa, Fla.; Boston,; London, England as well as member firms in Paris, France; Barcelona, Spain; Beijing, China; and Torino, Italy
About Intelysys
Intelysys specializes in development of web based Process Automation Software for Tax Professionals. Intelysys provides web-based solutions for collaboration and information sharing between multi-state corporations and auditing authorities. Over the years they have assembled a team of Tax Technology Professionals that have served in some of the world’s largest corporations and consulting firms, providing subject matter expertise in the development of process automation tools for tax departments. They create alignment of tax processes with information technology.
