Turner Broadcasting Consolidates Tax Provision Work
Turner Broadcasting System, Inc. (TBS, Inc.), a Time Warner company, has chosen to implement the Tax Provision & Data Collection functionality of Longview Performance Management Platform, according to the announcement by Longview Solutions.
Longview Solutions is a leading provider of corporate performance management software and Longview Tax is expected to be implemented and fully operational by end of Q1/07 and will be used by TBS, Inc. to collect tax data from its subsidiaries around the globe, calculate its consolidated tax provision and produce its tax footnote immediately upon close.
"We needed to get away from using spreadsheets for our tax provision work," states Robert Sauban, VP Taxes at TBS, Inc. "We're getting a much more bullet-proof solution with Longview, especially since all the data is stored and manipulated within a single database rather than being transferred back and forth between a number of systems. There's a certain "truth" that comes from this, so our tax provision results will be more trustworthy." He also expects to benefit from the capability of Longview Tax to keep their tax basic balance sheet up to date on an ongoing basis.
TBS, Inc. is a leading provider of programming for the cable industry and a major producer of news and entertainment product around the world, including CNN, one of the world's most respected news sources.
"Tax departments are always being challenged to do a tax basis balance sheet, so it's very important to me that Longview does it automatically. This will save us valuable time that we can put into doing more analysis instead of just calculating things," adds Sauban.
"We're delighted to have TBS, Inc. as a customer," says Longview's VP Tax Solutions, Bob Norton. "Longview Tax was designed specifically for global tax organizations such as TBS, Inc. that need to do their tax provisions faster and with greater accuracy, while bringing stronger controls to their entire FAS 109 process."
Since 1995, hundreds of the world's most respected companies, like Boeing, Cisco and Home Depot, have used the company's software.