Case Study: Smithfield Foods achieves 500 hours saved and eliminates transcription errors with CSC Corptax

Automation Frees Up 500 Hours and Facilitates Data Reuse

Smithfield Foods' international tax team—five members including costly local staff—faced a grueling compliance crunch: organizing and uploading data from 100 tax packages coming from disparate sources, legacy general ledgers and joint ventures, which required nights and weekends over three weeks. To streamline data collection and structure multiple purchase accounting adjustments, Smithfield engaged CSC Corptax and implemented CSC Corptax Office functionality.

Using CSC Corptax Office to control and automate the process, Smithfield now processes each tax package in under five minutes, can update permanent and temporary adjustments quickly, keep recurring adjustments consistent, and accelerate GILTI and compliance calculations. CSC Corptax’s solution freed up 500 hours for other work, virtually eliminated transcription errors, tightened SOX controls to reduce risk, and enabled reuse of provision data across the compliance lifecycle without rekeying.

Smithfield Foods