Client Challenges:
Tax Rate Diversity: Managing tax rates for 5,000+ products with varying tax rates across 15 regions.
Data Complexity: Data stored in 12 different formats, including CSVs, Excel files, and ERP system exports.
Accuracy Issues: Ensuring accurate tax reporting amidst frequent tax rate changes.
Manual Calculations: Time-consuming manual tax calculations leading to delays and errors.
Data Consolidation: Difficulty in consolidating tax data from different sources into a coherent format.
Compliance: Regular updates required to comply with changing regional tax laws.
Scalability: Need to manage an expected 25% increase in product lines and tax rates over 2 years.
Sparity Solutions:
Data Transformation: Utilized Power Query to standardize and transform tax data from 12 formats into a unified format.
Custom DAX Calculations: Developed custom DAX formulas to handle complex tax rate calculations based on region-specific rules.
Automated Tax Reports: Created automated tax reporting templates in Power BI, reducing manual calculation errors and saving 15 hours of work per week.
Integrated Data Sources: Integrated sales and tax data from ERP, CSV, and Excel sources into a single Power BI model.
Dynamic Dashboards: Built dynamic dashboards to track tax liabilities by region and product, updating in real time.
Compliance Tracking: Implemented compliance tracking features using Power BI’s data alerts to monitor changes in tax regulations.
Scalable Infrastructure: Configured Power BI to handle a 25% increase in product lines and tax data by leveraging Azure cloud scalability.
Benefits:
Accuracy Improvement: Increased tax reporting accuracy by 35% due to standardized calculations.
Time Savings: Reduced manual calculation time by 75%, saving 15 hours per week.
Data Integration: Streamlined data consolidation process, reducing data handling errors.
Regulatory Compliance: Improved compliance tracking and reporting with real-time updates.
Scalability: Supported a 25% increase in product lines and tax rates with no performance issues.
