Case Study: CNO Financial Group achieves automated, accurate tax reporting and significant time savings with CSC Corptax

Improving Efficiency, Accuracy, and Control through Automation

CNO Financial Group faced a highly manual tax provision and compliance process that relied on more than 200 Excel spreadsheets and roughly 200 manual adjustments each quarter, creating risk of spreadsheet errors, difficult reconciliations of deferred tax inventory, slow 10Q/10K footnote preparation, inconsistent RTP account mapping, and challenges incorporating federal and state audit adjustments. To address these issues, CNO engaged CSC Corptax to automate and centralize its tax reporting workflow.

Using CSC Corptax (including Data Exchange Manager, Corptax Office and the Corptax POV data connection), CNO automated trial balance loads, pushed/pulled adjustments with the general ledger, dynamically populated footnote schedules, automated NOL carryforwards, aligned RTP account mapping, and incorporated audit adjustments. The CSC Corptax implementation cut trial balance load time by 40 hours per quarter, reduced reliance on Excel from ~200 to ~30 spreadsheets, saved 20 hours on year-end audit support, reconciled deferred tax inventory to the trial balance each quarter without exception, and enabled faster, more accurate 10Q/10K and entity-level state tax analysis.

CNO Financial Group