Oracle Tax Reporting Cloud
Comprehensive cloud tax provision for multinational companies, automating GAAP/IFRS, current/deferred taxes with AI.
Executive Summary
Oracle Tax Reporting Cloud (TRC) is an enterprise-grade, cloud-based solution designed for multinational companies to manage their tax provision processes. It supports both GAAP and IFRS accounting standards, ensuring compliance with diverse global tax reporting requirements. The solution automates critical tasks such as data collection, complex calculations for current and deferred taxes, and the generation of various tax reports. Leveraging advanced AI capabilities integrated within the broader Oracle Enterprise Performance Management (EPM) suite, TRC streamlines the entire tax provisioning lifecycle. It aims to enhance accuracy, reduce manual effort, and provide greater visibility into tax data, from transactional inputs through to final reporting. This helps organizations meet increasingly complicated global tax reporting demands efficiently and effectively.
Use Cases
- Automating data collection and calculations for current and deferred tax provisions.
- Ensuring compliance with GAAP and IFRS tax reporting standards for multinational operations.
- Streamlining the end-to-end tax provisioning process from transactional data to final reports.
- Managing complex global tax reporting requirements across multiple entities and jurisdictions.
- Improving accuracy and efficiency in tax forecasting and financial statement disclosures.
Features
Visibility
- Real-time Tax Provision Visibility: Gain immediate insights into current and deferred tax positions, status of data collection, and reporting progress through intuitive dashboards.
- Consolidated View: Provides a unified view of tax data across multiple entities and jurisdictions, simplifying complex multinational tax reporting.
Intelligence
- AI-Enhanced Calculations: Leverages AI to improve accuracy and efficiency of tax calculations, identifying potential errors and anomalies.
- Automated Data Validation: Intelligently validates collected data to ensure completeness and accuracy before tax provision calculations.
Support
- Online Community Support: Access a vibrant online community (Cloud Customer Connect) for peer support, best practices, and direct engagement with Oracle experts.
- Product Documentation & Updates: Comprehensive product documentation and regular updates on new features and enhancements are provided.
Technical Specifications
- Architecture
- Cloud-based Oracle Cloud EPM
- Deployment
- SaaS
- Authentication
- SSO/SAML, MFA
- API Available
- Yes
Infrastructure
- Oracle Cloud Infrastructure (OCI)
Integrations
- Oracle EPM Cloud
- Oracle Integration
Security & Compliance
Certifications: SOC 2, GDPR
Encryption: Data is protected with encryption at rest and in transit, complemented by Data Loss Protection (DLP) measures.
Pricing
- Model
- SaaS subscription
- Starting Price
- Contact sales
- Target Customer
- Enterprise
- Free Trial
- No
About Oracle
Oracle Corporation is a global technology company that provides cloud infrastructure and applications, database software, and enterprise IT solutions. Oracle Learning is the company’s training and certification offering, providing role-based learning paths, digital training, and credentials to help organizations adopt and optimize Oracle technologies.
Alternatives to Oracle Tax Reporting Cloud
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- Vena Tax Provisioning by Vena Solutions — Automate current year tax provisioning with an Excel-native FP&A platform.
- Workiva Tax by Workiva — Streamline tax provision with automated data, calculations, and reporting for financial statements and filings.