An alyx™ case study
When tax regulations suddenly change, accountants must respond – but what if they face a cumbersome quest for disconnected tax data? When the CARES Act passed in March 2020, one healthcare company with 100 locations needed to quickly update its tax return. Unfortunately, the company's hospitals had a disparate array of individual systems and data, and pandemic pressures had become each hospital’s top priority.
The company needed to reach out to each hospital, collect asset data, ask local engineers about asset projects, aggregate all the data, analyze the data and finally factor it into the tax return – all before tax return deadline that was quickly approaching.
The healthcare company asked Grant Thornton to help solve the problem. The Grant Thornton team knew there wasn’t enough time to manually collect the data, so it turned to alyx for an alternative. The alyx platform matched the right people and tech for efficient and effective automation.
The result was a streamlined processes and custom Catalytic scripts that helped collect, aggregate and organize the data for assessment. The scripts automatically emailed engineers when needed, tracking responses and progress as it collected data into a central repository with a dashboard for accelerated review and analysis.
The Grant Thornton team developed and implemented an alyx solution that helped the client gather supporting tax documentation in 65% less time. The client gathered volumes of disconnected data within one week and worked with Grant Thornton tax consultants to update its tax return in time for the filing deadline with a significant tax deduction. The project even identified a series of efficiencies that the client can apply in the future.
This project was just one of the solutions that make our clients thankful they can call on the power of alyx:
Principal, Strategic Federal Tax Services
David serves as the National Fixed Asset Leader for Grant Thornton's Strategic Federal Tax Services practice
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