Oracle Announces Oracle Hyperion Tax Provision

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 


 
--  Oracle Business Analytics
--  Oracle Hyperion Tax Provision Data Sheet
--  Oracle Hyperion Financial Management
--  Oracle Financial Close and Reporting Solutions
--  Connect with Oracle Business Analytics via YouTube, Facebook and
    Twitter

  
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 
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affiliates. Other names may be trademarks of their respective owners. 
Contact Info
Letty Ledbetter
Oracle
+1.650.506.8071
letty.ledbetter@oracle.com 
Seema Kalra
Oracle
+1.650.506.2925
seema.kalra@oracle.com 
 
 
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