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Longview Solutions Solves the Tax Data Challenge, Gives CFOs the Transparency Needed to Avoid Unwanted Surprises(July 10, 2012)
TORONTO, ONTARIO -- (Marketwire) -- 07/10/12 -- Longview Solutions, the industry's fastest-growing tax software company, today announced the release of the newest version of Longview Tax, the only solution that lets financial executives take complete control of their tax data. According to Deloitte(1), of those finance departments facing material weaknesses, tax is the single-largest factor. Longview Tax addresses the challenge head-on, and delivers the transparency and control demanded by financial stakeholders, from tax professionals to shareholders, in a way that's easy to use and cost-effective.
"Nobody wants an adverse audit, but tax is still largely supported by risky and time-consuming manual processes that make transparency difficult to achieve," said Chris Carlstead, President of Tax, Longview Solutions. "Longview understands the types of controls and transparency today's CFOs demand, and Longview Tax is the only solution available that solves the tax data challenge. It provides visibility into all tax department data, giving CFOs the confidence they need and, ultimately, making unwanted surprises a thing of the past."
Far too many tax departments still rely on manual time-consuming tasks, piecing tax data together from disparate systems and spreadsheets to meet their tax data requirements. A first in its field, Longview Tax revolutionizes this process and enables tax departments to capture all data for direct and indirect taxes in a single database, ultimately improving the CFO's agility when steering the company's finances. The web-based solution integrates seamlessly into any existing business applications, including Microsoft Office and SharePoint, and will grow along with an organization in a way that is scalable and cost-effective.
Longview Tax dramatically enhances the tax department's ability to own the tax data and better control corporate tax processes. Key components of Longview Tax include:
-- Longview Tax Data Platform -- Longview Tax Data Collection -- Longview Tax Provision/Reporting -- Longview Tax Planning
"As we prepare for audits it's critical to get full visibility into our tax provisioning process, and we were impressed with Longview's track record of success," said Dan Bork, VP of Corporate Tax, Lexmark. "Longview Tax has played a key role in transforming our tax provisioning process. The information we need is now in one place, making it easy to access, and the flexibility allows us to get information from anywhere and to do it in a way that works for us."
Key enhancements in Longview Tax 7.1.2 include:
-- 50% faster setup time through the use of an import/export process to bulk load system settings such as accounts, entities, client settings and client data -- Usability enhancements including centralized access to all tax functionality from one screen with enhanced navigation for end-users and administrators -- Faster creation and updating of entities, accounts and other system settings with simplified administration editors -- Addition of the Balance Sheet method in addition to Income Statement method for both US GAAP and IFRS -- Optional Net Operating Loss automation allowing the system to reverse out of the current tax for a loss generating entity automatically -- Enhanced Deferred Tax Not Recognized (DTNR) function with the ability to enter gross amount and allocate between Short-Term and Long-Term
"For almost two decades, Longview has delivered innovative software solutions for enterprise clients that allow them to make smarter, more strategic business decisions based on one version of financial truth," said John Power, CEO of Longview Solutions. "This new release of the Longview Tax Data Platform, is the latest in a long line of offerings designed to help our clients improve their financial performance with greater efficiency, clarity and confidence."
Longview Tax 7.1.2 is now available. To learn more visit www.longview.com/tax or call 1-888-454-2549 (North America) or 01784 221 270 (Europe).
About Longview Tax
Longview Tax is a Tax Data Platform (TDP) that unifies the technology and processes necessary to collect, report and own all tax department data. Based on Longview Solutions' proven expertise working with a wide range of companies and industries, including some of the world's most complex multinational corporations, Longview Tax seamlessly integrates with any source system or tax point solution providing a data platform from which all global tax data needs and reporting processes can be performed, including: direct or indirect tax data collection, transfer pricing, tax planning and provisioning/reporting.
For more information please visit www.longview.com/tax.
About Longview Solutions
Longview Solutions provides a corporate performance management (CPM) and tax data management platform that leading companies such as Trustmark, Time Warner, Home Depot, Lexmark and Welch's use to drive performance with speed, visibility and financial integrity. Since 1994, Longview has been helping clients create a single repository of financial truth from which all, or any one of the following key financial processes can be performed: financial planning, budgeting, forecasting, modeling, disclosure management/XBRL reporting, statutory consolidation, management reporting, profitability analytics, tax data collection, tax provision/reporting and tax planning. Longview is an Exact company headquartered in Toronto, Canada with additional offices in Philadelphia, Chicago (USA) and London (UK).
For more information please visit www.longview.com.
(1) Deloitte (2011) Material weaknesses and restatements: Is tax still in the hot seat? Retrieved from http://www.deloitte.com.
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