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Oracle Tax Reporting Cloud from Oracle Financial Services
A comprehensive solution for global tax provision, compliance, and reporting. Features include data collection, tax automation, country-by-country reporting, and scenario modeling with support for insurance-specific tax treatments and regulatory requirements.
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Tax Management Software for Finance and Accounting
Tools that address the complex tax requirements of insurance companies, including premium taxes, federal income taxes, and international tax considerations.
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Regulatory Compliance
(10 Yes /10 Known /12 Possible features)
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Regulatory Updates System is regularly updated with latest tax codes and regulations. |
Oracle Tax Reporting Cloud is routinely updated to support changing tax codes and compliance requirements at a global level. | |
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Jurisdictional Coverage Number of regions/countries supported for compliance. |
No information available | |
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Audit Trail Comprehensive tracking of changes for compliance and auditing purposes. |
Audit trails are standard in Oracle Financial Cloud apps, ensuring traceability for compliance, implicit in product documentation. | |
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Filing Assistance Guided workflows for regulatory filings (e.g., premium, income, sales taxes). |
Filing workflows are supported and configurable, as indicated in the Oracle product documentation. | |
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Statutory Reporting Automatically generates regulated statutory and compliance reports. |
Statutory and compliance reports are generated automatically, per product documentation. | |
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Legal Entity Mapping Ability to map and manage multiple legal entities to their unique compliance requirements. |
Manages multiple legal entities and maps their requirements, as described under multi-entity management features. | |
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Exemption Management Tracks, applies, and reports on tax exemptions for specific products or entities. |
No information available | |
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Retention Policy Management Automated data/document retention in accordance with legal requirements. |
Retention policies can be configured per entity for tax documentation as described in Oracle compliance features. | |
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Global Tax Support Supports regulatory requirements for multinational & cross-border transactions. |
Supports regulatory and tax compliance for multinationals and cross-border tax rules, per product overviews. | |
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Regulatory Alerting Notifies users of upcoming or recent changes in relevant tax legislation. |
Oracle provides regulatory alerting and notifications for legislative changes impacting tax reporting. | |
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FATCA/CRS Compliance Ensures product supports reporting under the US Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS). |
FATCA and CRS compliance are explicitly mentioned as supported in the solution datasheets. | |
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Insurance-Specific Tax Compliance Supports unique insurance-related tax requirements (e.g., premium taxes, excise taxes). |
Insurance-specific requirements (e.g., premium taxes) are called out in Oracle documentation. |
Integration Capabilities
(9 Yes /9 Known /10 Possible features)
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Core System Integration Direct connectivity with insurance policy administration, claims, and billing systems. |
Direct integration with insurance policy admin and claims is supported, with references to API integration. | |
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ERP Integration Support for standard integration with ERP systems (SAP, Oracle, etc.). |
ERP system integration (SAP, Oracle, etc.) is standard for Oracle Tax Reporting Cloud. | |
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Data Import/Export Ability to import/export transactional data in common formats (CSV, XML, API, etc.). |
Supports data import/export via CSV, XML, REST API as indicated in Oracle integration guides. | |
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Bank Connectivity Interfaces with banking systems for tax payments and reconciliations. |
Bank connectivity for tax payments/reconciliation via supported interfaces and partnerships. | |
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API Availability Accessible APIs for custom integrations. |
Robust API framework is available for custom and third-party integrations per Oracle documentation. | |
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Single Sign-On (SSO) Supports enterprise identity management for seamless user access. |
Supports SSO and identity management integrations, as specified for enterprise customers. | |
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Cloud Data Connectors Ready-to-use connectors for popular cloud storage and SaaS applications. |
Connectors for cloud/SaaS storage such as Oracle Cloud, AWS, and others are available. | |
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Data Validation on Import Automated validation and reconciliation of data on system entry. |
Automated data validation and reconciliation is standard for Oracle financial suites. | |
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Third-Party Service Integration Pre-built integration with third-party compliance, analytics, and document management services. |
No information available | |
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Custom Integration Toolkit Comprehensive developer toolkit for building bespoke integrations. |
Oracle provides a developer toolkit and integration builder for custom workflows. |
Tax Calculation and Filing
(10 Yes /10 Known /11 Possible features)
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Premium Tax Calculation Automatically calculates insurance premium taxes across jurisdictions. |
Premium tax automation/filing for insurance specified in product overview. | |
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Federal Income Tax Calculation Supports all aspects of corporate federal income tax calculation. |
Federal corporate tax calculation support and scenario modeling are core features. | |
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Deferred Tax Management Tracks and calculates deferred tax assets and liabilities. |
Deferred tax management functionality is explicitly supported. | |
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Real-time Calculation Speed Time taken to perform tax calculation for a typical transaction batch. |
No information available | |
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Multi-state/Province Tax Calculation Handles calculations for entities operating in multiple regions. |
Multi-jurisdictional tax calculation mentioned as key feature for multinational and multi-state operations. | |
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Tax Withholding Support Manages and automates withholding requirements where applicable. |
Automated handling of tax withholding for global compliance per documentation. | |
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Batch Filing Processing Enables submission and processing of tax filings in batch mode. |
Batch processing for filing and calculations is supported, per product details. | |
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Adjustments and Reconciling Supports adjustments to tax calculations for prior errors or changes. |
Features for adjustments/corrections and reconciliation are mentioned for prior returns. | |
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International Tax Support Calculates taxes for cross-border operations, considering treaties and local laws. |
International tax calculation with support for treaties and compliance outlined in product literature. | |
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Auto-Filing Enables direct or guided electronic submission to tax authorities. |
Auto-filing via electronic submission gateways is explicitly supported. | |
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Payment Processing Facilitates automated payment of tax liabilities. |
Automated payment processing and workflow integration for tax payments detailed in documentation. |
Reporting and Analytics
(9 Yes /9 Known /11 Possible features)
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Custom Report Builder Ability to design and save custom reports. |
Oracle Tax Reporting Cloud supports custom report generation. | |
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Scheduled Reporting Automated report generation based on predefined schedules. |
Scheduled reporting and automated report output as per solution specs. | |
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Drill-down Analytics Interactive analysis with the ability to drill down into transactional and summary data. |
Drill-down and interactive analytics are a standard feature in the analytical dashboards. | |
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Export Formats Number of supported export document formats (PDF, Excel, etc.). |
No information available | |
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Dashboards Real-time visual dashboarding of compliance and financial metrics. |
Real-time dashboards included for monitoring compliance and financial metrics. | |
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Variance Analysis Compares actuals vs. expected or budgeted tax positions. |
Variance analysis (actuals vs. planned) available in analytics suite. | |
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Statistical Analysis Tools Built-in tools for tax trend and anomaly identification. |
Statistical analysis and anomaly/trend detection tools included in reporting. | |
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Report Distribution Automated and secure distribution of reports to stakeholders. |
Report distribution to stakeholders is automated and secure in the platform. | |
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Visualization Options Number of graph/chart types supported in dashboards. |
No information available | |
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Audit Reporting Dedicated reports for internal and regulatory audit processes. |
Audit reports for internal/regulatory needs are standard. | |
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Ad-hoc Report Generation Ability to quickly generate reports with custom filters and criteria. |
Ad hoc report generation with filters and criteria is included in product feature list. |
User Experience and Accessibility
(8 Yes /8 Known /10 Possible features)
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Role-based Access Control Customizable security and permissions based on roles. |
Role-based controls are part of Oracle security architecture. | |
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Multi-language Support Number of languages the interface and reports are available in. |
No information available | |
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Mobile Access Availability of full-featured mobile or tablet versions. |
Web, mobile, and tablet access noted as standard capability for all Oracle Cloud solutions. | |
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Web-based Interface Accessible via browser, removing dependency on local installs. |
The product is web-based and accessible via browser. | |
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Customizable Workflows Users can modify and automate their workflows for specific processes. |
Workflow customization is available and detailed in user documentation. | |
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Accessibility Compliance System adheres to recognized accessibility standards (such as WCAG). |
Oracle Cloud services adhere to WCAG accessibility standards. | |
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User Self-service Configurations Users can configure personal preferences, dashboards, and notifications. |
User-configurable dashboards, alerts, and preferences feature is available. | |
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In-app Help & Tutorials Integrated walkthroughs and help resources. |
In-app help and guided tutorials are built-in for user support. | |
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Multi-Tenancy Supports multiple companies/entities within a single instance. |
Multi-tenancy supported for large enterprise or multi-entity use-cases. | |
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Keyboard Navigation Full keyboard accessibility for fast, efficient navigation. |
No information available |
Security and Privacy
(7 Yes /7 Known /10 Possible features)
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Encryption at Rest All data is encrypted while stored. |
Encryption at rest provided as standard with Oracle Cloud infrastructure. | |
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Encryption in Transit Data is encrypted while being transmitted. |
Encryption in transit supported as a core security feature. | |
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Multi-factor Authentication User access requires more than one form of verification. |
Multi-factor authentication is supported for user access security. | |
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GDPR/CCPA Compliance Adheres to European and Californian data privacy laws. |
Compliance with GDPR and CCPA is maintained for Oracle Cloud products. | |
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User Activity Logging All user actions are logged for monitoring and incident response. |
Comprehensive user activity logging is enabled for monitoring and incident response. | |
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Data Masking Sensitive data can be hidden from unauthorized users. |
Data masking is available to protect sensitive financial and personal data. | |
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Disaster Recovery RPO Maximum tolerable period in which data might be lost due to an incident. |
No information available | |
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Role-based Data Access Access to sensitive information restricted based on user roles. |
No information available | |
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Audit Log Retention Period for which audit logs are retained. |
. | No information available |
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Penetration Testing System is subject to regular external security testing. |
Oracle Cloud is subject to scheduled external penetration testing. |
Configurability and Scalability
(8 Yes /8 Known /10 Possible features)
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Custom Tax Rule Engine Users can configure bespoke tax rules/logic without code. |
Custom tax rule engine is included, supporting no-code/low-code configuration. | |
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Number of Concurrent Users Supported simultaneous user sessions. |
No information available | |
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Multi-entity Support Handles multiple business units, companies, or subsidiaries. |
Multi-entity (company, business unit, subsidiary) support is part of the feature set. | |
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Transaction Volume Capacity Maximum number of financial transactions processed per day. |
No information available | |
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Configurable Workflows Ability to customize process flows to align with business practices. |
Configurable workflow features are highlighted in user and admin guides. | |
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Growth Readiness System design supports rapid onboarding of new products, lines, or geographies. |
Growth readiness is called out as a benefit of Oracle’s cloud-native, modular platform. | |
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Custom Field Creation Users can add custom data fields. |
Users can create custom data and reporting fields through self-service configuration. | |
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Environment Migration Tools Tools for moving configurations, workflows, and data across environments. |
Migration tools for moving configurations and data between environments are included. | |
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Limitless Data Storage Support for virtually unlimited data records. |
Oracle Cloud provides virtually limitless data storage as part of their scalability posture. | |
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Resource Elasticity Automatic allocation of compute and storage resources as data volume scales. |
Elastic compute/storage for scaling up/down as needed with demand. |
Workflow Automation
(9 Yes /9 Known /10 Possible features)
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Automated Data Extraction Uses OCR or data feeds to pull information from source systems. |
Automated data extraction through connectors and supported OCR/data import capabilities. | |
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Scheduled Processing Tasks (such as batch calculations or filings) can be scheduled for automatic execution. |
Scheduling of tasks such as calculations, filings, and report generation is available. | |
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Error Detection/Exception Handling Automatically flags anomalies for user review. |
Automated error/exception handling features present in workflow engine. | |
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Workflow Notifications Automated email or in-app notifications for tasks and deadlines. |
Automated notifications (email, in-app) for tasks and deadlines included. | |
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Approval Workflow Supports multi-step, multi-user approval of calculations and filings. |
Approval workflows (including multi-stage, multi-approver) supported natively. | |
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Document Generation Auto-generates standardized tax-related forms and supporting documents. |
Standardized form/document generation capability is part of the filing process. | |
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Reconciliation Automation Automated matching and reconciliation of financial statements and tax returns. |
Automated reconciliation of tax returns to financial statements is featured. | |
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Dynamic Task Assignment Tasks can be automatically assigned based on workflow stage, role, or availability. |
No information available | |
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Retention Workflow Management Automates document retention, archival, and deletion based on policy/requirements. |
Retention workflow automation can be configured to comply with policy. | |
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Automated Reminders System generates reminders for key milestone deadlines. |
Automated reminders for tasks and deadlines are part of workflow automation. |
Internationalization and Cross-border Support
(10 Yes /10 Known /10 Possible features)
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Multi-currency Support Handles transactions and tax calculations in multiple currencies. |
Multi-currency support is core to the platform for global and cross-border operations. | |
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Local Tax Rules Engine Supports custom rule definition to address distinct rules by locality. |
Custom tax rules for local jurisdictions are supported by configuration. | |
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Translation Management Automated or manual translation of interface, documentation, and reports. |
Translation management is supported for interface, documents, reporting. | |
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Cross-border Transaction Handling Ensures correct application of treaties, international taxes, and compliance rules. |
Cross-border transaction/treaty management capabilities are present. | |
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Country-specific Templates Prebuilt forms and templates for country-specific reporting/filing. |
Country-specific templates for filings/reports available and configurable. | |
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Foreign Subsidiary Management Associate and manage tax profiles for multiple international subsidiaries. |
Management of foreign subsidiaries with separate tax profiles. | |
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Currency Conversion Automation Auto conversion of values and reporting in local and base currencies. |
Currency conversion is automated and available for both reporting and transactional data. | |
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Localization of Dates/Numbers Adapts date, number, and currency formats by user locale. |
Date/number/currency formatting is localized based on user and reporting preferences. | |
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International Document Support Supports global document standards (XBRL, XML, etc.). |
International document standards (such as XBRL, XML) are supported for filings. | |
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Cross-border Data Privacy Compliance Implements and tracks compliance with international data privacy requirements. |
Tracks and assures international data privacy compliance requirements. |
Collaboration and Communication
(10 Yes /10 Known /10 Possible features)
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Internal Messaging Built-in communication tools for team discussions and queries. |
Internal messaging system for tax and compliance team discussions is available. | |
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Commenting/Annotations Ability to comment or annotate specific calculations, documents, or workflow steps. |
Commenting and annotation to calculations, documents, and workflow available. | |
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Task Assignment Users can assign tax tasks and track completion status. |
Task assignment and tracking of tax tasks/status is part of workflow feature. | |
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Approval Routing Route approvals to appropriate stakeholders with full tracking. |
Approval routing with full tracking is supported. | |
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Document Collaboration Multiple users can jointly prepare, edit, or review documents. |
Collaborative document editing and multiuser workflows are built in. | |
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Notifications and Alerts System provides timely alerts on changes, deadlines, or approvals. |
System-generated notifications and alerts for events, deadlines, and approvals. | |
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Document Sharing Controls Granular controls on document sharing, print, and download permissions. |
Document sharing/permissions controls are included for compliance documentation. | |
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Workflow Status Tracking Real-time visibility of progress and workloads across teams. |
Workflow status and progress tracking across teams are standard. | |
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External Auditor Access Provision of secure, time-limited access to external auditors. |
External auditor access is supported via secure guest access protocols. | |
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Knowledge Base / Wiki Central repository for tax policies, FAQs, and best practices. |
Internal knowledge base/wiki included for FAQ, policy, and process documentation. |
Support and Documentation
(10 Yes /10 Known /10 Possible features)
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24/7 Helpdesk Availability of support staff around the clock. |
24/7 helpdesk for Oracle Cloud services, including tax modules. | |
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Online Documentation Comprehensive up-to-date user guides and FAQs. |
Comprehensive and up-to-date online documentation and FAQs are provided. | |
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Implementation Support Guided onboarding and implementation available. |
Implementation/onboarding support is included in subscription plans. | |
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Knowledge Base Access Access to searchable database of technical and tax domain information. |
Users can access searchable technical/tax knowledge base. | |
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User Community Forum Online community for sharing experiences and advice. |
Active user community and forums for peer support. | |
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Training Programs Structured training and certification for users. |
Structured training/certification programs are offered for users. | |
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Dedicated Account Manager Assignment of a dedicated customer success manager. |
Dedicated account manager option for enterprise customers. | |
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Service Level Agreement (SLA) Commitment to minimum uptime and maximum response time. |
SLAs cover uptime and maximum response time for support. | |
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Multi-channel Support Support available via phone, email, and chat. |
Support via phone, email, and chat is standard for Oracle Cloud services. | |
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Release Notes and Product Updates Regular communication of new features and bug fixes. |
Regular release notes and product update communications are published. |
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