Automation saves time on data aggregation, consolidation
2 weeks
The time to aggregate and consolidate data was reduced from 3.5 weeks to 1.5 weeks a month.
15
Grant Thornton helped create 15 workflows to process reams of data.
At a glance
Client
Payment technology and services company
Industry
Technology
Our role
Evaluate post-M&A data aggregation to relieve a burdensome process
Our solution
Create multiple new workflows and upskill staff to cut data processing time
Automating data aggregation cut time by more than half
Scenario
Data aggregation time was consuming due to M&A activity
Approach
Automated indirect tax data aggregation and upskilled staff
Result
Two weeks were saved on data aggregation and consolidation
Scenario
M&A activity creates overwhelming data dump
Grant Thornton has performed indirect tax compliance services for a Fortune 500 payment technology and services company for several years. Through various acquisitions and mergers, the data files that make up the monthly returns have increased. Further, the process to simply gather and aggregate the data became cumbersome and time-consuming, taking four staff about 3.5 weeks to get through everything. In fact, the company had to report one month in arrears due to being unable to provide timely data, which required additional staff to assist in the process.
Approach
Grant Thornton creates workflows, upskills staff
Grant Thornton strategized with the company on potential solutions. It was discovered that the company had multiple Alteryx licenses which Grant Thornton leveraged to build approximately 15 workflows, automating a substantial portion of the monthly indirect tax data aggregation and consolidation process. Upon completion of the build, Grant Thornton upskilled the staff on how to run the workflows monthly.
Result
Huge time savings frees staff for other duties
Within the first month of the company owning the process, they reduced the time from 3.5 weeks down to 1.5 weeks to aggregate and consolidate the data. Further, the additional staff were able to be redeployed elsewhere as a result of the automation.
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Robert D. Clarke
National Tax Leader, Tax Digital Consulting
Grant Thornton Advisors, LLC
Rob is based in Tampa, FL and is the national tax leader for Tax Digital Consulting, which focuses on helping clients undertake the digital transformation journey with consultative services and solutions.
Tampa, Florida
Industries
- Healthcare
- Manufacturing, Transportation & Distribution
- Technology, media & telecommunications
- Retail & consumer brands
Service Experience
- Tax
- State & Local Tax
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