Simplify Tax Compliance with Siron®One Comprehensive Tax Management Solution
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Siron®One Tax Compliance Software streamlines the entire tax compliance process, managing data capturing and filing across various jurisdictions and deadlines. Incorporating insights from KYC processes, it ensures high accuracy, operational efficiency, and cost reduction.
Challenges
Keep up with Different Tax Regulations Across Operations & Jurisdictions
Tax compliance for financial institutions is increasingly challenging, especially for those transacting globally or based outside the United States. FATCA and CRS regulations complicate documentation requirements. Siron®One helps businesses track and comply with emerging tax regulations locally or globally, adapting to tax changes based on a company’s structure, expansion or contractions.
Overcome the Challenges of Complex Tax Regulations
Tax regulations continually evolve due to changes in industries and jurisdictions and company structure and operations over a financial year. Financial institutions and businesses must also comply with different local, state, national, and international tax regulations, adding to the complexity.
Manage Jurisdictional Differences & Cross-Border Regulations
Financial institutions face increased tax compliance demands due to Basel III, the Dodd-Frank Act, FATCA, and other global legislations. In addition to filing accurate tax returns, they must maintain clear audit records, follow correct provisions, and prevent infringements.
Integrate Data from Standalone Systems for Accurate Filing
Due to standalone systems and inconsistent sources, most financial institutions struggle to access cohesive and accurate data across the tax compliance spectrum. The process becomes even more complex without high-quality and precise data throughout all the stages of tax compliance.
Automate Resource Intensive & Error-Prone Tax Workflows
Tax processes such as data collection are resource-intensive, lengthy, and time-consuming, creating inefficiencies and resource waste, leading to increased costs.
Keep Up with Different Filing Deadlines Across Jurisdictions
One of the biggest challenges in tax compliance is filing within the correct timelines for various taxes across jurisdictions and business classifications with noncompliance resulting in hefty fines.
Our Solution
End-to-End Tax Compliance Solution from Data Capture to Filing
Siron®One simplifies tax provision processes across all stages, from data collection to reporting and analysis, using automation, AI, digitalization, and standard documentation. From recording information to one-click reporting, Siron®One helps financial institutions and businesses of any size remain compliant.
Automated Data Capturing to Save Time
Siron®One’s machine learning processes classify structured and unstructured data and retrieve them as needed. You can also define additional data sources, create data queues, define fields, and assign to a group.
Centralized Document Management System for Better Collaboration
Siron®One features an end-to-end document management system that automates workflows and triggers actions based on predefined rules. It uses optical character recognition to capture and classify information, identify missing data, and create a searchable dossier and customer history, all in one centralized location.
Rules Engine to Automate Data Capture and Complex Reporting
Siron®One is integrated with a highly advanced rules engine for intricate business functions, enabling accurate automation. During client onboarding, Siron®One can determine the documents required for tax compliance, identify clients by relevant tax rules like FATCA and CRS and gather the needed documentation.
Standard Reports for Quicker Tax Reporting
Siron®One offers ready-to-use templates that can be easily adjusted and saved as pre-configured reports. Handling is easy, requiring no training or configuration. A guided workflow assists users through the process, streamlining and enhancing tax compliance efficiency.
Better Collaboration & Communication for Cost Reduction
Siron®One facilitates seamless team collaboration to review, track, index, file, and approve tax documents. It also automates key tax compliance and reporting processes, helping to reduce costs. The platform supports over 1,000 users globally at any given time.
Our Insights
