PQ Group Closes Significantly Faster By Leveraging Onesource Tax Provision (OTP) And GTM’S Tax Technology Implementation Expertise
PQ Group Closes Significantly Faster By Leveraging Onesource Tax Provision (OTP) And GTM’S Tax Technology Implementation Expertise
1 PagesCASE STUDY CHALLENGE: Prior to the company’s IPO in October of 2017, PQ’s Tax Department was afforded significantly more time to complete its annual financial statement close as a privately held organization. As part of a newly public company, PQ Tax was faced with the challenge of a 60-day close in order to comply with SEC reporting requirements, as well as maintaining strict internal controls dictated by SOX. Achieving the necessary time savings required enhanced integration and automation of many Excel-based provision workbooks and complex consolidation files. These calculations include data received from countries all over the globe. As part of the IPO process, PQ’s Tax Director onboarded a Tax Manager to help bolster the provision process in the context of a SOX environmen
