SOURCE: Oracle Corporation

Oracle Corporation

May 25, 2011 08:00 ET

Vermont Department of Taxes Upgrades to Oracle Enterprise Taxation Management 2.2

REDWOOD SHORES, CA--(Marketwire - May 25, 2011) - Oracle (NASDAQ: ORCL)

News Facts

  • Oracle, working with CGI, has completed the first upgrade to Oracle Enterprise Taxation Management 2.2 with the Vermont Department of Taxes.
  • Already live on the previous version of Oracle Enterprise Taxation Management, the Vermont Department of Taxes uses the solution to optimize all aspects of the revenue collection process and quickly respond to tax law and regulatory changes.
  • The State of Vermont, like many other states, is facing unprecedented pressure to increase efficiency and effectiveness in the midst of declining tax revenues and economic pressure.
  • Oracle Enterprise Taxation Management provides the state with the means to become cost effective, increase focus on collection, upgrade its technology base and provide a platform for future expansion of tax types.
  • Working with CGI and Oracle, the Vermont Department of Taxes replaced its 30-year-old, customized system with Oracle Enterprise Taxation Management to help more efficiently and effectively administer taxes on behalf of its constituents.
  • The new version of Oracle Enterprise Taxation Management provides out-of-the-box core tax processing features to support registration, forms processing and penalty and interest determination. It also enables tax agencies to complete implementations more quickly and with less risk, while providing functionality for highly specialized tax calculations based on a number of configurable criteria.
  • The State of Vermont purchased an earlier version of the software in Q2FY08.

Supporting Quotes

  • "Tax authorities often struggle to create integrated views of taxpayer activity, streamline collections, audit taxpayer service operations and adapt to constant change and complexity in the tax laws they administer. Oracle Enterprise Taxation Management provides the Vermont Department of Taxes with an integrated solution to enable near-term functional improvements, while providing the adaptability and flexibility needed to address future challenges as well," said Andre van der Post, global director, Tax Solutions and Strategy, Oracle Tax Global Business Unit.
  • "By combining our expertise with Oracle's, we have provided the Vermont Department of Taxes with a single, modern technology infrastructure for processing mission critical tax return and financial information," said Jonathan F. Light, vice president, Consulting Services, CGI.
  • "Working with Oracle and CGI, we have successfully upgraded to Oracle Enterprise Taxation Management 2.2. This solution provides us with a more flexible and effective tax management system, enabling us to efficiently and effectively bill, collect and manage funds," said Tom Buonomo, director, Vermont Department of Taxes.

Supporting Resources

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