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Several FORTUNE 500 energy companies needed to develop and maintain new processes by transforming how they create and maintain tax-basis balance sheets and deferred tax balances. The FORTUNE 500 companies also sought to improve data integrity across their financial systems. The companies needed to address two pressing tax challenges. The first was to establish solid processes to ensure Sarbanes-Oxley (SOX) compliance, specifically processes related to the business' tax-basis balance sheet and deferred tax balances. Second, the companies needed to deploy a financial software system that could create and maintain more accurate tax-basis balance sheets.
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