Customer insights: How CCH Integrator meets modern tax challenges

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<div class="row"> <div class="component rich-text article-text"> <div class="component-content"> <span class="abstract">We delved into how the <a href="/en-hk/solutions/cch-integrator">Wolters Kluwer CCH Integrator platform</a> eases modern tax function challenges for our customers.</span> <p>Our exploration combined insights and data from our technical help experts, with feedback from customer interactions to reveal how CCH Integrator can help modernise and transform the tax department and assists businesses to efficiently achieve their tax compliance and reporting goals.</p> <p>Continue reading to explore the reasons why CCH Integrator is the platform of choice for more than 15,000 tax and accounting professionals, across 80+ countries.</p> <h2>1. Integrated cloud-based tax data collection and workpapers</h2> <p>Collaborating and collecting tax data from stakeholders is made easy with CCH Integrator Websheets, a next generation cloud tax workpapers management solution that allows customers to easily create, maintain and automate the tax data collection process and integrate the data flow through to automated tax workpapers, and disclosures.</p> <p>By eliminating the manual “lift and shift” approach that often takes place with Excel tax data packs via email and share drives etc, customers have achieved greater integrity and efficiency in data handling whilst also gaining the benefits of a powerful and intuitive cloud based workpaper management solution.</p> <p>CCH Integrator is flexible and can cater to multiple methods of data collection. This ensures that the system can be reflective of the internal processes of the modern tax function, which are varied.</p> <h2>2. Peace-of-mind with data privacy and security</h2> <p>Tax and accounting professionals must keep and maintain business records to adequately support their tax filings and positions. Wolters Kluwer uphold the highest security policies and standards, providing customers with the confidence that their important data is stored securely and safely.</p> <p>Wolters Kluwer’s Global security policies, standards and operational practices follow ISO 27001 and NIST CSF / 800-53 – which are the international standards for cybersecurity. This is also ingrained in the way in which we develop, maintain, and deliver our Wolters Kluwer tax and accounting applications and services to all our customers.</p> <h2>3. Greater visibility and collaboration with workflow dashboard</h2> <p>In a global environment, easy access to a complete global view of key tax metrics and workflow is a must. As a central tax performance management system for our customers, CCH Integrator provides comprehensive and easy access of an overview of their tax workbook portfolio. This is particularly useful to review the status of specific workbooks, schedules, and tax metrics such as effective tax rates and deferred tax balances.</p> <p>Accordingly, with CCH Integrator customers have access to embedded Workflow Dashboards, which visualises both the workbooks and their underlying schedule status. This enables efficient data interaction and interrogation, improving data visibility and elevating the overall user workflow experience for customers.</p> </div> </div> <div class="component pullquote col-12"> <div class="component-content"> <div class="pullquote-content"><div class="pullquote-quote field-quote">Management review process times have reduced by around the 25–30 per cent mark.</div><div class="pullquote-author field-author">Alesha Mercieca, Manager, Tax Operations at Australia Post</div></div> </div> </div> </div> </div> </div> <div class="container-fluid"> <div > <div class="row"> <div class="component rich-text article-text col-12"> <div class="component-content"> <h2>4. In platform validation for filings, including lodgment directly with the Australian Taxation Office (ATO)</h2> <p>For organisations with a presence in Australia, the CCH Lodgment Portal saves customers time and effort, enabling users to lodge income tax returns, Business Activity Statements and Australian Local Files’ directly to the ATO via Standard Business Reporting (SBR).</p> <p>CCH Integrator has fully interactive and integrated validation rules within the workflow of modules, making it easy for customers to find and resolve any errors before submitting the return to the ATO, eliminating frustrating backtracking, timely and sometimes costly troubleshooting, and resolution.</p> </div> </div> <div class="component pullquote col-12"> <div class="component-content"> <div class="pullquote-content"><div class="pullquote-quote field-quote">The benefit of a transparent audit trail and a clear governance framework meant we met the key elements for the ATO’s Justified Trust program. This was a key achievement.</div><div class="pullquote-author field-author">Life Sciences Company</div></div> </div> </div> <div class="component rich-text article-text col-12"> <div class="component-content"> <h2>5. Simplified and automated currency conversion across multiple jurisdictions</h2> <p>CCH Integrator standardises tax reporting in multiple jurisdictions. On the basis that most multinational organisations report in both local and international reporting currencies, CCH integrator has robust currency conversion that reconciles back to underlying financial reporting systems. Customers benefit from greater efficiencies, with the ability to create calculations in the local currency and then seamlessly convert into the reporting currency in platform. CCH Integrator also prompts users to “refresh” the currency conversion where data in the local currency workbook has been modified.</p> <h2>6. Upload Trial Balance Data into multiple entities simultaneously</h2> <p>CCH Integrator provides customers with a number of options to upload the source data required to complete tax calculations.</p> <p>The bulk upload process automates the loading of trial balance data for multiple entities into CCH Integrator and automates the creation of workbooks for the applicable period. Users can choose to use the bulk loading approach where many entities share the one source accounting system. The bulk upload process can also be run manually or automated without human intervention.</p> <h2>7. Integrity in data input and mapping templates</h2> <p>CCH Integrator is Enterprise Resource Planner (ERP) agnostic. Input Mapping allows users to define and maintain mapping rules between any general ledger account and CCH Integrator.</p> <p>CCH Integrator’s mapping template enable users to consistently apply mapping rules over reporting periods or across different entities within a group. If more than one general ledger system is used within the group, templates can be defined for each of the systems and automatically applied to the relevant entity(s) within the group.</p> </div> </div> <div class="component pullquote col-12"> <div class="component-content"> <div class="pullquote-content"><div class="pullquote-quote field-quote">Because we knew the mapping was correct, we knew our disclosure for both tax and financial reporting would be correct too. This capability has been crucial in navigating ongoing taxation updates in Australia. We just couldn’t have achieved what we have if we were still relying on spreadsheets.</div><div class="pullquote-author field-author">Life Sciences Company</div></div> </div> </div> <div class="component rich-text article-text col-12"> <div class="component-content"> <h2>8. Ability to automatically compare financial position with tax summary schedule</h2> <p>By accessing the Tax Accounting Summary Schedule, customers can view a comprehensive summary of the selected entities tax effect accounting position which is automatically updated. It provides a full reconciliation of each P&L and balance sheet tax account from opening to closing balance, as well as details supporting the current year movements. CCH Integrator’s tax accounting engine then automatically compares the calculated closing tax balances against the position in general ledger to generate the period-end tax journal posting for the customer.</p> <h2>9. Alignment to changing regulations with tax technology innovation</h2> <p>Technology for tax professionals by tax professionals. Many of our customers feel confident partnering with Wolters Kluwer as leading experts at the forefront of tax solutions and innovation. CCH Integrator is built with low code technology, giving the platform a unique advantage to swiftly adapt to emerging local and global regulations and reporting requirements.</p> <p>A prime example of first to market innovation is the <a href="/sitecore/service/notfound.aspx?item=web%3a%7bF17E6381-3280-483D-AD24-774758C0F41B%7d%40en-HK">recent release of the CCH Integrator BEPS Pillar Two solution</a>. As BEPS Pillar Two regulations evolve, Wolters Kluwer is simultaneously building the CCH Integrator BEPS Pillar Two solution and working with BEPS Pillar Two experts from multiple global service firms to ensure accurate tax technical application. Through formal and informal programs, customers can use CCH Integrator’s Pillar Two solution to evaluate their operational readiness and impact of Pillar Two.</p> <p><strong>“The product looks impressive, this is awesome” – Louie, Tax Manager</strong></p> <p><strong>“Incredibly complete product which can be used now” – Gary, Tax Manager</strong></p> <p><strong>“The rule tracker will be my first point of call” – John, Tax Director</strong></p> <p>The proof of excellence is evident in the multiple awards achieved, with Wolters Kluwer TAA Asia Pacific recently earning two <a href="/sitecore/service/notfound.aspx?item=web%3a%7b7516CAEE-93EC-4411-9401-4AE752352DDA%7d%40en-HK">Gold Globee® Awards for CCH Integrator</a> in the Financial Services category.</p> </div> </div> <div class="component pullquote col-12"> <div class="component-content"> <div class="pullquote-content"><div class="pullquote-quote field-quote">The implementation of CCH Integrator is part of our technology-focused roadmap for the tax team and the broader enterprise. We feel CCH Integrator meets our best of breed benchmarks, and it will be a key tool for our future.</div><div class="pullquote-author field-author">Peter Dimech, Head of Taxation at Australia Post</div></div> </div> </div> <div class="component rich-text article-text col-12"> <div class="component-content"> <p>And last but not least…</p> <h2>10. Friendly, timely, reliable and professional customer support</h2> <p>Our customers regularly share positive feedback on the outstanding customer support and training resources they receive from our team, helping them to maximise the potential of CCH Integrator in their business.</p> </div> </div> </div> </div> </div> <div class="container-fluid"> <div > <div class="row"> </div> </div> </div> <div class="container-fluid"> <div > <div class="row"> <div class="component wk-container col-12"> <div class="component-content"> <div class="row"> <div class="component testimonial no-image tabs col-12"> <div class="component-content"> <div class="tabs-inner"> <ul class="tabs-heading"> <li tabindex="-1"> <div> <div class="row"> <div class="component content"> <div class="component-content"> <div class="field-content">Animal nutrition solutions company</div> </div> </div> </div> </div> </li> <li tabindex="-1"> <div> <div class="row"> <div class="component content"> <div class="component-content"> <div class="field-content">Leading Australian insurance company</div> </div> </div> </div> </div> </li> <li tabindex="-1"> <div> <div class="row"> <div class="component content"> <div class="component-content"> <div class="field-content">Accounting and business advice firm</div> </div> </div> </div> </div> </li> </ul> <div class="tabs-container"> <div class="tab"> <div class="row"> <div class="component promo no-image"> <div class="component-content"> <div class="testimonial-content" data-dm-wk="component.testimonialbox"><div class="testimonial-quote field-quote">My request was promptly and efficiently handled. 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