Tax function effectiveness

How your business wins from a transformation of the tax function

Transformation of the tax function can generate a number of advantages:

Improved ability to address tax audits

Reduced risk of errors in financial statement and tax filings

Stronger tax control framework, equating to lower financial tax risks

New analytical capabilities, adding to the organisation’s ability to plan, forecast and collaborate on new business opportunities

A more empowered, strategically placed workforce, enabling quicker change.

Start with a current state assessment

A tax function assessment provides a strategic "stake in the ground" to develop the path to a future state, and support the business case for transformation. For new tax leadership or non-tax stakeholders (finance/C-suite), a tax function assessment can provide an independent, candid view of the tax function operations and risks.

Download (586 KB) Tax function effectiveness

More specific examples:

Data gathering can be reduced when information for Tax is tagged properly at the ledger level, thereby reducing task time for the Finance team overall
Data flowing directly from the general ledger to Tax software (or tax computations directly embedded within the broader ERP platform) and integrated tools can reduce manual tasks and errors
Flexible processes that utilise technology can handle tax law changes rather than adding manual processes
On-line collaboration tools can help automate document management and internal controls
Shared service center or other co-sourcing options can improve cost savings for tax compliance functions such as data collection and forms preparation
Improved communication and workflows between Finance and Tax personnel can boost efficiency, paving the way for greater cohesiveness going forward

Design your future

Disruptions quickly uncover the areas of deferred maintenance in organizations. Although companies are strategically managing expenses through adverse events, these investments are key to maintaining the continuity of work and preparing for recovery. This kind of vision will help you achieve a resilient operating model for the long term.

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