Today’s corporate tax landscape is significantly different from how it was in the past. With challenges such as globalization, data management, and ever-changing government regulations, tax professionals are having a hard time keeping up with the demands of their work. The challenges they are facing are ones that were simply not there 20 years ago.
So how can tax departments address these new challenges? By taking advantage of technology solutions designed specifically for building a high-performing tax function. Tax software such as Longview Tax has powerful automation and reporting features that can automate repetitive tasks and free up time for your tax team so they can focus their energy on more high-value tasks.
In this Longview Tax pricing article, we will discuss the features included in the quote-based plan of this software. We will also cite examples of how its features can improve the way your team handles tax processes and how they can aid in strategic planning for your company.
A tax department’s goal is clear—to provide sound tax planning, correct reporting, and compliance. However, many tax departments are struggling to meet these targets.
Tax professionals know all about the pressure they face daily in their work. They have to unlock value from the data they receive from disparate sources, help manage risks, and provide critical insights as their organizations continue to grow.
Moreover, businesses are not only testing the efficiency of their tax professionals but also their proficiency in tax processes. That’s because the accuracy and integrity of their tax reports are of the utmost importance to companies constantly trying to meet regulatory compliance laws and regulations.
Already strapped for time, many tax departments are still unable to move on from their traditional tools for gathering data and creating reports. They still painstakingly trawl spreadsheets and accounts to double-check tax implications, which is time-consuming and prone to human error.
Furthermore, manual processes diminish the productivity of tax professionals. Case in point: 80% of the tax function’s time is spent on data gathering, while only 20% is spent on analysis. On the other hand, middle-management spend over 50% of their time going over tax reporting and control activities.
Source: EY/PwCDesigned by
With so many variables to consider in tax reporting, it’s safe to say that the current manual methods will not be sustainable. To maximize the overall performance of your tax department, your organization must future-proof it with technology.
Longview Tax is a cloud-based corporate tax software that helps tax teams become more efficient and accurate in their tax reporting. Packed with automation features, the platform eliminates manual errors and repetitive data entry. Automating processes also shorten the time spent by your tax team on lengthy checking and validation work. Since your tax team doesn’t need to worry about mundane or administrative tasks, they gain more time to contribute to their organization’s strategic decision-making.
In addition to automation features, Longview Tax makes data collection and management simpler and more efficient. That’s because it seamlessly integrates with Microsoft Excel, ERP software, and other analytics and finance applications developed by its vendor, Insightsoftware.
Once connected to your data sources, Longview Tax aggregates the data you need for your reports. If your tax team has a centralized location where they can access tax information, they won’t need to shift from application to application. This means the time searching for information and files will also be significantly reduced.
The best thing about Longview Tax is that your organization can immediately implement it. Users don’t need to rely on IT experts in order to use the platform. It has an intuitive and customizable dashboard, which makes reporting and presenting even more convenient.
Detailed Longview Tax Review
Detailed Longview Tax Review
Longview Tax pricing follows a quote-based model, which means companies can get the best value for their money. The plan is scalable and can address the needs of medium-sized businesses and enterprises.
Moreover, you can have a better idea of the capabilities of the software through the vendor’s free demo. You will be able to see the software in action, ask questions, and then decide if its features are the right ones for your tax reporting needs.
Here are some of the essential features included in the quote-based plan:
Data management woes are some of the toughest challenges haunting tax teams today. Not only does data come from different departments within an organization, but it can also originate from the overseas offices of a company. Gathering data from a hodgepodge of sources can slow down and confuse even the most experienced tax professional. This can lead to more errors and inaccurate reports, which can potentially lead to penalties and other financial harm to your organization.
Longview Tax addresses this issue by breaking down the barriers between siloed applications. It integrates with other business software such as finance, accounting, or HR solutions and becomes your centralized hub where tax data can be stored and validated across your company’s tech stack. Collecting and checking data can be made easier and faster.
Most importantly, automated data collection and processing ensures that your tax department always gets up-to-date information from a single source of truth. As a result, your team will deal with fewer errors and discrepancies in its reports.
Not all tax departments are the same. Reporting requirements vary between companies, so it’s important to adopt a tax software that you can tailor to your organization’s tax reporting needs.
Longview Tax has this covered with easy customization features. Your tax team can either implement the software quickly using a standard approach or create their own functionality. They can generate custom reports based on the set metrics and goals of your company.
The platform runs on a low-code/no-code development environment so your tax professionals can manage it independently. They can modify the dashboard and other features without needing the help of IT experts; thus, you also alleviate your tax team’s dependence on your IT department.
Companies rely on strong tax guidance when planning strategic initiatives. With Longview Tax’s reporting and analytics features, tax departments can provide easy-to-understand reports and data-driven insights to CFOs and executive-level leaders. These reports are made even more credible as they are based on updated and reliable information.
Reports can be customized and presented using data visualization tools such as graphs and charts, which can support decision-making processes. They can be used for forecasting, scenario building, and other business activities of the company. Also, you can export reports to Excel and then upload them to third-party compliance software.
Though Longview Tax has simple and flexible functionality, it is not a guarantee that users will not run into some issues while using the platform. That’s why the quote-based plan of Longview Tax already includes customer support via phone, email, and a public support community.
Longview’s product specialists support companies on the quick deployment of the platform. After deployment, they continue to provide assistance through troubleshooting and report creation.
Aside from technical assistance, continuous education is also available to Longview Tax users. A self-service training portal makes it possible for your tax team to expand and strengthen their skills in using the software at their own pace. Self-training can also be useful when introducing the platform to new users or employees. You can also use it if you want to train users on a specific topic.
Typical SaaS pricing plans are fixed subscriptions that target specific business sizes and their budgets. Features are also often bundled into fixed plans, which can be an excellent choice for users who have very predictable business requirements.
Longview Tax pricing offers several advantages over fixed plans. First, it can be a more cost-effective plan since you only pay for features that you know your tax team needs. You can avoid situations where you subscribe to a fixed plan with a plethora of features but many of which are seldom used by your team.
Second, Longview Tax’s quote-based plan is scalable. For example, if you need to add more users or remove them, you can always adjust your plan to suit the circumstances of your team.
Finally, you have more freedom to choose features in a quote-based plan unlike in fixed plans. You can select features that you think will truly help your tax department achieve its business goals. To get to know more about the software, simply ask for a free demo from the vendor.
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