A large retail chain faced challenges managing and reporting tax data for products with varied tax rates across 15 different regions. Sparity stepped into streamline the workflows with Power BI Solution.
Client: Telecom
Services: Power BI
Year: 2024
Client Challenges:
Tax Rate Diversity: Managing tax rates for 5,000+ products with varying tax rates across 15 regions.
Data Complexity: Data stored in 12 different formats, including CSVs, Excel files, and ERP system exports.
Accuracy Issues: Ensuring accurate tax reporting amidst frequent tax rate changes.
Manual Calculations: Time-consuming manual tax calculations leading to delays and errors.
Data Consolidation: Difficulty in consolidating tax data from different sources into a coherent format.
Compliance: Regular updates required to comply with changing regional tax laws.
Scalability: Need to manage an expected 25% increase in product lines and tax rates over 2 years.
Sparity Solutions:
Data Transformation: Utilized Power Query to standardize and transform tax data from 12 formats into a unified format.
Custom DAX Calculations: Developed custom DAX formulas to handle complex tax rate calculations based on region-specific rules.
Automated Tax Reports: Created automated tax reporting templates in Power BI, reducing manual calculation errors and saving 15 hours of work per week.
Integrated Data Sources: Integrated sales and tax data from ERP, CSV, and Excel sources into a single Power BI model.
Dynamic Dashboards: Built dynamic dashboards to track tax liabilities by region and product, updating in real time.
Compliance Tracking: Implemented compliance tracking features using Power BI’s data alerts to monitor changes in tax regulations.
Scalable Infrastructure: Configured Power BI to handle a 25% increase in product lines and tax data by leveraging Azure cloud scalability.
Benefits:
Accuracy Improvement: Increased tax reporting accuracy by 35% due to standardized calculations.
Time Savings: Reduced manual calculation time by 75%, saving 15 hours per week.
Data Integration: Streamlined data consolidation process, reducing data handling errors.
Regulatory Compliance: Improved compliance tracking and reporting with real-time updates.
Scalability: Supported a 25% increase in product lines and tax rates with no performance issues.
