Hyperion Tax Provision is a powerful tool that leverages HFM capabilities and functionalities to streamline the tax close processes and enhance tax automation. Let us introduce HTP to tax departments as follows:
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HTP Product Overview & Key Benefits:
The significant differences between HTP and its competition include:
– Not a bolt-on point solution for most companies that already use Oracle Hyperion EPM products.
– Based on a proven Oracle Hyperion EPM solution platform (HFM, FDM, HFR, Smartview, EPMA, etc.) with pre-existing features shared with other applications (FX translation, mobile device enabled reporting, etc.) that will continue to be improved and supported by Oracle.
– Lower change management impacts and a common production support platform for administrators and users that already use Oracle Hyperion suite of products.
– Usually would be installed in the same environment as the Controller & Financial Reporting organization’s HFM application.
– Likely to be more integrated over time with a company’s broader financial system architecture (ERP, BI/DW, MDM, Other EPM; Oracle, SAP, etc.)
The HTP key features:
– HTP is a calculation engine that addresses US GAAP, IFRS, and statutory tax reporting
– An easy-to-use wizard for automation of tax differences
– A comprehensive suite of tax reports for the consolidated tax provision – including the tax disclosure
– Reconciliation of the tax accounts to the accounting data, and generation of the tax journal entry
– Powerful reporting tools to support analysis and tax planning in a single solution
– A return-to-accrual process that integrates and enhances the tax compliance process
– Configurable supplemental schedules to address unique data collection and specific calculation requirements
– A web-based tax package and integrated workflow for global data collection
– A tax provision solution that is based on the same technology trusted by thousands of corporate finance organizations
The HTP key benefits:
– HTP offers stronger tax risk management through a unified control framework
– Improves efficiency through integration of data / metadata with source ERP and financial consolidation systems
– Improves efficiency through standardization
– Allows tax to spend more time on analysis and planning instead of reconciliation
– Transparency and auditability from consolidated tax disclosure down to source transactions
– Greater visibility to late adjustments
– Leverages your organization’s investment in Oracle Hyperion Financial Management