Tax & Accounting Blog

Boehringer Ingelheim Pharmaceuticals, Inc. Streamlines Tax Provision and Return Adjustments by 80%

Global Tax Compliance, Tax Provision, Transfer Pricing, US Income Tax Compliance, WorkFlow Manager August 16, 2011

Strict year-end deadlines, manual inefficiencies and a lack of internal resources challenged the U.S. tax department of Boehringer Ingelheim. Like most corporate tax departments around the globe, their responsibilities were growing faster than their allocated head count.

As a result, the relatively small income tax and provision staff saw major benefits in choosing a tax provision solution that streamlined and enhanced their current processes.

The team ultimately turned to ONESOURCE Tax Provision because of its ability to reduce risk,  manual effort and integrate with their income tax software- ONESOURCE Income Tax.

“[By using the ONESOURCE return and provision integration solution] I was able to load the trial balance right from ONESOURCE Tax Provision and then load all of our adjustments. It took me one day to tie out our year-end provision versus one week. I imagine next year will be even easier.”- Michelle Potpan, Tax Support Manager, Boehringer Ingelheim Pharmaceuticals, Inc.

The Result? Positive feedback from auditors and more time to focus on certification, research and strategy.

Learn how the Boehringer Ingelheim Pharmaceuticals, Inc. tax department cut down the time it took to tie out their year-end provision from one week to one day (PDF)