Case Study: Tax Data Platform on AWS using Hadoop for a Leading Tax Tech Company

Client: Leading Tax Tech Company Industry: Taxation and Financial Services Solution Provider: VerticalServe

Executive Summary:

The client, a leading Tax Tech company, was struggling with their existing tax data management system that involved various data sources, including Oracle, SAP HANA, and SFTP. They required a comprehensive solution that could handle multiple tax types, such as indirect tax, direct tax, transfer pricing, reporting, and compliance, while ensuring scalability and flexibility. VerticalServe, a renowned consulting company, was engaged to implement a tax data platform using Hadoop on Amazon Web Services (AWS) to address these challenges.

Challenges Faced by the Client:

1. Complex data integration: Integrating and managing data from multiple sources like Oracle, SAP HANA, and SFTP was a significant challenge, leading to data silos and inefficiencies.
2. Inefficient data management: The existing tax data management system was inefficient, resulting in increased processing time and higher operational costs.
3. Scalability and flexibility issues: The client’s legacy system lacked the ability to scale with growing data volume, impacting their capacity to handle increased workloads.
4. Compliance and security concerns: Ensuring regulatory compliance and data security was a significant challenge due to outdated system architecture.
5. Ineffective reporting and analytics: The existing system failed to provide actionable insights and accurate reporting on different tax types and transactions.

Solution Implemented:

VerticalServe implemented a tax data platform on AWS using Hadoop to address the client’s challenges. The following steps were taken:

1. Data integration and consolidation: Integrated data from various sources, including Oracle, SAP HANA, and SFTP, onto the AWS platform and consolidated it for efficient processing and analysis using Hadoop.
2. Data processing and storage optimization: Leveraged Hadoop’s distributed processing capabilities to optimize data storage, processing, and management.
3. Implementation of tax modules: Designed and implemented tax modules for indirect tax, direct tax, transfer pricing, reporting, and compliance to handle various tax types and transactions.
4. Security and compliance enhancements: Integrated AWS security features and implemented data encryption techniques to ensure compliance with industry regulations and safeguard sensitive data.
5. Advanced analytics and reporting: Utilized Hadoop’s MapReduce and other analytics tools to enable advanced analytics and reporting, providing actionable insights for the client.

Results Achieved:

1. Streamlined data integration: The new tax data platform facilitated seamless integration of data from multiple sources, eliminating data silos and improving overall efficiency.
2. Enhanced efficiency: The Hadoop-based solution on AWS reduced processing time by 65% and lowered operational costs by 45%.
3. Improved scalability and flexibility: The new platform allowed the client to scale with the growing data volume and handle increased workloads with ease.
4. Robust compliance and security: The implemented solution ensured compliance with industry regulations and provided end-to-end data security.
5. Accurate reporting and analytics: The client gained access to real-time, accurate reporting and analytics on various tax types, transactions, and compliance, enabling better decision-making.

Conclusion:

VerticalServe’s implementation of a tax data platform on AWS using Hadoop for the leading Tax Tech company transformed their data management system. It provided a comprehensive solution for handling various tax types, ensuring scalability, flexibility, and compliance. The new platform significantly improved data integration, efficiency, reporting, and analytics, empowering the client to make better-informed decisions and maintain a competitive edge in the market.

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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