Case Study: Next Gen Tax Data Platform on AWS Cloud using Big Data and AI/ML for a Leading Accounting Firm

Client: Leading Accounting Firm Consulting Company: VerticalServe

Objective The objective of this case study is to demonstrate the successful implementation of a Next Gen Tax Data Platform on AWS Cloud using Big Data and AI/ML technologies for a leading accounting firm. The implementation included handling indirect tax, direct tax, transfer pricing, various data sources, a unified data model, a user interface for data management and ETL, reporting using Tableau, scheduled report generation, PDF forms, and data sharing with partners and government entities.

Background The accounting firm faced challenges in managing and processing large volumes of tax data from various sources, while ensuring accuracy and compliance. The firm sought VerticalServe’s expertise in developing a next-generation tax data platform that could streamline tax data management, reporting, and sharing using modern technologies, such as Big Data and AI/ML.

Solution VerticalServe designed and implemented a Next Gen Tax Data Platform on AWS Cloud, leveraging Big Data and AI/ML technologies to improve tax data management, reporting, and sharing. The solution included the following components:

1. Indirect Tax, Direct Tax, and Transfer Pricing: The platform needed to support various types of tax data, including indirect tax, direct tax, and transfer pricing information.
2. Data Sources: Integration of data from various sources, such as Accounts Payable (AP) systems, tax rates, and legal entities.
3. Unified Data Model: A flexible and scalable data model to store and manage tax data from different sources in a unified manner.
4. UI for Easier Data Management and ETL: A user interface (UI) for managing data ingestion, transformation, and loading (ETL) processes.
5. Reporting using Tableau: Integration with Tableau for creating interactive and dynamic tax data visualizations and reports.
6. Scheduled Report Generation: Automated generation and distribution of tax reports on a predefined schedule.
7. PDF Forms: The ability to generate and manage tax-related PDF forms for compliance purposes.
8. Data Sharing with Partners and Government Entities: Secure and compliant data sharing capabilities with external partners and government entities.

Implementation VerticalServe began by setting up the AWS Cloud infrastructure to host the tax data platform. They then designed a unified data model to store and manage tax data from various sources in a scalable and efficient manner.

Next, the team developed a user-friendly UI for managing data ingestion, transformation, and loading (ETL) processes, enabling the accounting firm to easily integrate data from diverse sources. They also integrated AI/ML algorithms to improve data validation, classification, and anomaly detection.

Tableau was integrated into the platform for creating dynamic visualizations and reports, providing the firm with actionable insights into their tax data. The team also implemented automated report generation and distribution, allowing the firm to receive timely updates on their tax data.

VerticalServe then developed PDF form generation and management capabilities for compliance purposes, ensuring the accounting firm could meet regulatory requirements. Finally, the team implemented secure and compliant data sharing mechanisms, enabling the firm to share tax data with external partners and government entities.

Results With the successful implementation of the Next Gen Tax Data Platform on AWS Cloud, the accounting firm experienced the following benefits:

1. Streamlined Tax Data Management: The unified data model and user-friendly UI simplified the process of managing and processing tax data from various sources.
2. Improved Data Accuracy: AI/ML algorithms enhanced data validation, classification, and anomaly detection, reducing errors and improving overall data quality.
3. Enhanced Reporting: Integration with Tableau provided the firm with dynamic visualizations and insights into their tax data, supporting better decision-making.

About:

VerticalServe Inc — Niche Cloud, Data & AI/ML Premier Consulting Company, Partnered with Google Cloud, Confluent, AWS, Azure…50+ Customers and many success stories..

Website: http://www.VerticalServe.com

Contact: contact@verticalserve.com

Successful Case Studies: http://verticalserve.com/success-stories.html

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