ZimVie Turns Tax into a Competitive Edge With Longview Tax

In Brief

• Increased efficiency by streamlining manual processes and reducing reporting time.
• Improved accuracy and compliance with automated checks and standardized workflows.
• Scalable foundation that positions the organization for future growth and innovation.

ZimVie, a global leader in medical prosthetics, was hitting major roadblocks in managing its international tax function as it grew. After splitting from its parent company and ending up with a lean five-person team, the tax department found itself struggling to pull together financial data from multiple international subsidiaries—a slow, tedious, and error-prone process that made timely, accurate reporting a challenge. Manual data entry only made things worse, upping the risk of mistakes, hurting data integrity, and opening the door to possible compliance issues. Without a centralized platform, the team had no clear, all-in-one view of ZimVie’s global tax obligations, making it tough to spot tax-saving opportunities or fine-tune strategies.

As Melissa Denis, Director, Global Tax at ZimVie put it, tougher regulatory requirements were making those strict reporting deadlines even harder to hit. Sticking with manual processes would only pile on more pressure for the tax team, raising the chances of penalties and compliance slip-ups. Without real-time, accurate tax data, the team’s ability to back up strategic decision-making took a hit, making it harder for leadership to see the full tax impact of big business moves. Bottom line: growing regulatory complexity wasn’t just a headache, it was a potential drain on compliance, profitability, and long-term growth.

Enter Longview: Automation Meets Accuracy

To tackle these challenges head-on, ZimVie implemented Longview by insightsoftware, a unified corporate performance management platform that completely leveled up its global tax game. Longview plugged right into ZimVie’s various ERP systems, automating data collection and consolidation so manual entry became a thing of the past, and errors dropped big time. “It was actually a really quick tool for us to pick up, everything was set up for us, but we did start making modifications to it as needed,” says Denis. Built-in data validation tools kept quality and accuracy on point, giving the team a rock-solid base for tax reporting and analysis. Plus, with pre-built templates and workflows, Longview made the whole tax reporting process way smoother, helping ZimVie stay compliant with both local and international regulations without breaking a sweat.

Beyond just checking the compliance box, Longview gave ZimVie real-time visibility into its global tax position with advanced dashboards and reporting tools, meaning the tax team could stay ahead of obligations and fine-tune strategies before issues popped up. The platform also improved collaboration across departments, enhancing communication and workflow efficiency. Additionally, Longview’s scenario planning and analysis tools empowered ZimVie to model different tax strategies, assess potential liabilities, and make more informed business decisions. By modernizing its tax management with Longview, ZimVie not only mitigated compliance risks but also unlocked opportunities for improved efficiency, cost savings, and strategic growth.

From Reactive to Proactive Tax Strategy

By implementing Longview Tax, ZimVie transformed its tax function, achieving greater efficiency, accuracy, and compliance. “Our department is really happy with our use of Longview, it has been able to navigate a lot of our challenging financial statement reporting over the past few years,” says Denis.

Automating data collection and reporting freed up the tax team to focus on strategic initiatives like tax planning and analysis, rather than time-consuming manual tasks. Eliminating manual data entry and leveraging built-in validation tools significantly improved data accuracy, reducing errors and ensuring reliable tax reporting. “The data pulling is amazing when wanting to do reports because you can get the report exactly how you need it,” says Denis. With standardized processes and real-time visibility into global tax obligations, ZimVie minimized compliance risks and reduced the likelihood of penalties.

Beyond compliance, Longview empowered ZimVie’s leadership with timely, accurate tax insights to drive smarter business decisions, optimizing profitability and long-term growth. The platform’s ability to streamline tax processes also led to substantial cost savings, reducing overall tax compliance expenses. By modernizing its tax operations with Longview, ZimVie not only strengthened regulatory compliance but also positioned itself for greater financial agility and strategic success.

Compliance Covered, Growth Unlocked

Longview Tax provided ZimVie with a comprehensive solution for managing its global tax function, enabling the company to overcome its challenges and achieve significant improvements in efficiency, accuracy, compliance, and strategic decision-making. By leveraging Longview’s powerful capabilities, ZimVie’s lean tax team can effectively manage the complexities of international taxation and support the company’s continued growth and success.

Learn more about how Longview Tax can help your team.