Welcome!

Oracle Authors: Pat Romanski, Carmen Gonzalez, Elizabeth White, Andreas Grabner, Roger Strukhoff

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
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
"There is a natural synchronization between the business models, the IoT is there to support ,” explained Brendan O'Brien, Co-founder and Chief Architect of Aria Systems, in this SYS-CON.tv interview at the 15th International Cloud Expo®, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
The BPM world is going through some evolution or changes where traditional business process management solutions really have nowhere to go in terms of development of the road map. In this demo at 15th Cloud Expo, Kyle Hansen, Director of Professional Services at AgilePoint, shows AgilePoint’s unique approach to dealing with this market circumstance by developing a rapid application composition or development framework.

ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ --  IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...

Advanced Persistent Threats (APTs) are increasing at an unprecedented rate. The threat landscape of today is drastically different than just a few years ago. Attacks are much more organized and sophisticated. They are harder to detect and even harder to anticipate. In the foreseeable future it's going to get a whole lot harder. Everything you know today will change. Keeping up with this changing landscape is already a daunting task. Your organization needs to use the latest tools, methods and expertise to guard against those threats. But will that be enough? In the foreseeable future attacks w...
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
“The age of the Internet of Things is upon us,” stated Thomas Svensson, senior vice-president and general manager EMEA, ThingWorx, “and working with forward-thinking companies, such as Elisa, enables us to deploy our leading technology so that customers can profit from complete, end-to-end solutions.” ThingWorx, a PTC® (Nasdaq: PTC) business and Internet of Things (IoT) platform provider, announced on Monday that Elisa, Finnish provider of mobile and fixed broadband subscriptions, will deploy ThingWorx® platform technology to enable a new Elisa IoT service in Finland and Estonia.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover how hardware commoditization, the ubiquitous nature of connectivity, and the emergence of Big Data a...
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...