Global Tax Platform
GTP redefines how tax operates and how the EY tax practice operates and serves clients. It is not a product. It is technology enabling enhanced tax services with big data, automation and analytics to better support the evolving needs of our clients.
What EY can do for you
Companies today have no shortage of tax data, but they’re missing the one platform that can help them gather it across different file types and systems, efficiently standardize it with automation and transform it into insight through analytics.
Until now, that is.
The EY Global Tax Platform (GTP) can do all that and more, redefining how Tax operates and how we serve our clients. It is technology enabling enhanced tax services that brings together the power of big data, automation and advanced analytics to better support the evolving needs of our clients.GTP helps you tackle a growing list of challenges brought on by disruption, legislation, talent transformation and today’s ever-changing digital world.
Immediate benefits include the following:
- You don’t need to make your own costly investments in the future of tax — we’ve done that for you, making the investment to evolve and scale our service delivery model and underpinning technologies for the digital age.
- All your tax-relevant data comes together on a single technology platform and is prepped for analytics that produce insights and benchmarks.
- You gain greater access, transparency and ability to implement controls related to your tax organization.
- GTP is a multifaceted platform in which EY teams and your business can work seamlessly with 3rd parties, such as regulatory bodies.
- Thanks to automation and other efficiencies, your people are freed up to do more value-added work.
Here’s how it works.
Data as an enabler
GTP consolidates multiple systems and processes into one streamlined platform for data, requiring less manual intervention within a better user experience.
- Data gathering. We quickly connect with approved outputs from your ERP systems to gather tax and finance information in a non-intrusive way. Files can also be uploaded. Those seemingly endless and redundant data requests are eliminated: data is provided once and then made available to EY teams serving you.
- Standardization and validation. GTP has built-in automation tools that transform your data so that it’s ready for a range of projects ,if needed . Structured and unstructured data, including from traditional documents, are combined into a usable state. Missing information is quickly flagged.
- Storage and accessibility. Your tax data is available in one place and accessible throughout the globe to you and the EY teams with whom you are working, securely in the cloud (enabled by Microsoft Azure). You can import and export data to and from GTP during your engagements with EY.
- Reporting and analytics. With standardized data in a centralized database, you can now put it to use quickly and effectively. Generating a report can take mere seconds. Microsoft Power BI allows you to run reports by service at any stage, whether they’re standard, preset reports or ones that are customized specifically for you.
New ways of working
GTP also redefines how well you can team internally (across functions and geographies) and externally (with your EY team, locally and in Centers of Excellence across the globe, and with anyone else you grant access to).
- Multisided work environment. Everyone who is allowed to can work in GTP at the same time, and it’s not limited to any one country, region, sector or organization.
- Dashboarding and visualization. Project statuses and work flows are automatically tracked globally and reflected in dashboards. Your executives gain a clearer line of sight into the status of an engagement, where there may be possible holdups, and who’s responsible to advance the process.
- Secure cloud functionality. GTP is built on Microsoft Azure, with its secure infrastructure available around the globe. Its capabilities can easily scale up and down based on your needs.
- Transparency. GTP keeps a full lineage of edits, enabled by blockchain. Every keystroke in every field is monitored and tracked back to the source — crucial for establishing an audit trail.
Ability to evolve
With GTP, you’re not getting a tool that you’ll eventually need to replace — it can scale and evolve with ever-changing market demands. It’s structured with constant improvement in mind, utilizing state-of-the-art components and interoperability with leading technologies.
- Tax systems integration. GTP connects and integrates with internal and external tax reporting engines, created by EY professionals and our alliance partners, as well as third-party tools.
- Seamless updates. GTP accounts for regulatory changes, and the underpinning technology allows us to rapidly expand our arsenal of tools and get new offerings on the market faster for you.
- Machine learning/artificial intelligence. While these capabilities are evolving, we’re building in the potential. For instance, that could take the form of auto-mapping trial balances or looking for anomalies in millions of lines of data.
Why is GTP important?
GTP is the enabler of better client service to help you confront the questions you face in today’s ever-changing world.
- Are my workers equipped with the skills for the future? Core competencies will likely change from traditional tax technical skills toward deeper process and technology skills. GTP is an intuitive platform that makes it easier for you to connect with EY resources and bring in our skill sets.
- How can we best respond to rapid legislative changes? Many businesses say that they do not have adequate resources to monitor, evaluate and respond to new government requirements that impact their technology systems. GTP is easily updated as changes happen,impacting technology or tools, and it increases our speed-to-market for new offerings.
- How can we future-proof our functions? Companies often lack confidence when it’s time to invest time and money in technology. Yet, such an investment is needed to deliver better outcomes. GTP brings leading technologies to one environment,so you spend less over time versus expenditures on continually upgrading your internal technologies to stay current.
- How can we do all this with an eye on costs? Virtually, all organizations have a plan to reduce the cost of the Tax and Finance function over the next 24 months, an EY survey shows. GTP can help clients in that effort by using automation and offshore resources.
Reimagined tax — it’s the future, upending traditional professional service models with your needs in mind, for today and tomorrow. Contact a leader below to learn more.
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