Welcome!

Java IoT Authors: Elizabeth White, Pat Romanski, Ken Schwaber, Carmen Gonzalez, Jyoti Bansal

News Feed Item

Oracle Announces Oracle Hyperion Tax Provision

REDWOOD SHORES, CA -- (Marketwire) -- 02/13/13 -- Oracle (NASDAQ: ORCL)

News Facts

  • In order to help customers increase efficiency, achieve stronger internal controls and improve transparency between book and tax data, Oracle announced Oracle Hyperion Tax Provision.
  • Oracle Hyperion Tax Provision allows customers to collect, calculate and report on the consolidated tax provision and more closely align tax with financial reporting.
  • Built on the Hyperion Financial Close Suite, Oracle Hyperion Tax Provision is a web-based tax application that addresses the full scope of the global tax provision process.
  • Oracle Hyperion Tax Provision replaces the highly manual methods used by most organizations with an automated and standardized process that increases efficiency. Furthermore, it integrates with tax compliance software and improves the overall compliance process by providing a more streamlined book-to-tax process.
  • Integrated with Oracle Hyperion Financial Management, Oracle Hyperion Tax Provision is based on the same technology trusted by thousands of finance organizations to ensure the accuracy of financial reporting.
  • The calculation of the income tax provision is a key part of an organization's financial close process. Therefore, a stronger alignment of the tax provision with the financial close process benefits both tax and finance by helping to eliminate redundant processes and increasing transparency of the broader financial reporting process.
  • Oracle Hyperion Tax Provision helps Oracle, and its partners, add more value for their customers; delivering a more comprehensive solution that helps address the needs of both tax and finance executives.
  • Oracle Hyperion Tax Provision is available in North America and the United Kingdom.

Addressing the Corporate Tax Provision

Oracle Hyperion Tax Provision integrates with the Hyperion Financial Close suite and offers the following benefits:

  • Efficiency, Speed & Data Integrity: Integration of the tax provision with the financial process helps ensure that tax and finance data reconcile at all times, and eliminates the need for redundant maintenance of data and metadata. This allows tax to always work with the latest financial data. Tax can spend less time on data and more time on analysis.
  • Autonomy: Tax can realize the efficiencies of being more closely integrated with the financial close process, but both finance and tax still retain the autonomy that is necessary to meet their individual reporting needs.
  • Enterprise-quality Tax Reporting: The corporate tax department is empowered with the same robust reporting tools as used by finance. This allows for easy drill-down and variance reporting (e.g. actual vs. history, actual vs. forecast). It also leads to economies in training and on-boarding new users. This includes both Oracle Hyperion Financial Reporting and Oracle Hyperion Smart View for Office (Microsoft Office Add-in).
  • Stronger controls & easier access for users: Regional controllers that submit data to both corporate finance and corporate tax during the financial close can work from the same easy to use interface -- instead of switching between two different solutions. This results in a stronger control environment enabling regional controllers to perform efficiently and quickly -- instead of reconciling data between two separate systems.
  • Transparency between book and tax data: Finance has better transparency between book and tax data -- especially for tax journal entry, disclosures and key metrics such as effective tax rate.

Supporting Quotes

  • "Today's globalized economy requires more agility and transparency in financial reporting," said Hari Sankar, vice president of product management at Oracle. "Tax provisioning is a key step in the financial close process, yet in most corporations tax and financial reporting are not well integrated. With Oracle Hyperion Tax Provision, customers can use their investments in Oracle Hyperion Financial Management to collect, calculate and report on the global consolidated tax provision, and integrate it with their financial reporting."
  • "We believe that a corporate tax provision process that is not closely aligned with the financial reporting process may expose companies to unnecessary risk and inefficiencies. Aligning corporate tax and finance systems may greatly enhance the ability of tax departments to execute their responsibilities more effectively," said Michael J. Johnson, performance management technology leader for Deloitte's Tax Management Consulting Practice.

Supporting Resources

About Oracle

Oracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NASDAQ: ORCL), visit www.oracle.com.

Trademarks

Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Contact Info
Letty Ledbetter
Oracle
+1.650.506.8071
Email Contact

Seema Kalra
Oracle
+1.650.506.2925
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
Providing secure, mobile access to sensitive data sets is a critical element in realizing the full potential of cloud computing. However, large data caches remain inaccessible to edge devices for reasons of security, size, format or limited viewing capabilities. Medical imaging, computer aided design and seismic interpretation are just a few examples of industries facing this challenge. Rather than fighting for incremental gains by pulling these datasets to edge devices, we need to embrace the i...
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walked through how Octob...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
SYS-CON Events announced today that Catchpoint, a leading digital experience intelligence company, has been named “Silver Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Catchpoint Systems is a leading Digital Performance Analytics company that provides unparalleled insight into your customer-critical services to help you consistently deliver an amazing customer experience. Designed for digital business, C...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in Embedded and IoT solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 7-9, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and E...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, discussed the best practices that will ensure a successful smart city journey.