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The “t” in tax stands for technology
Companies often ask for our help to simplify their tax ecosystem. But with today’s heightened regulatory and compliance demands — and a shrinking number of professionals — we’re witnessing in real time increased burdens on the tax function. Maintaining visibility and staying on top of projects are often coming at too big of an expense — time. That’s one resource you can’t recoup.
I’ve experienced this as well. We all have. Throughout my accounting career, the manual data processes, redundancies and challenges of maintaining visibility across engagements became a real issue to solve and took time away from innovation.
It’s no surprise that many of today’s tax conversations center on technology. Our recent Pulse surveys revealed that 71% of tax leaders currently are coordinating digital investments (working closely with the CIO) to help facilitate business transformation. And for good reason. The need to innovate has become stronger than ever. If your company’s tax function plans to keep up, a scalable data strategy and technology platform should be in place.
As PwC’s Tax Technology Leader, I’ve made it my mission to push the boundary of what’s possible. We imagined a more innovative and streamlined tax experience — built for today’s demands with the power to help grow and support your future — and Sightline was born.
A better (tech-powered) way forward
PwC’s services in conjunction with our innovative tax platform, Sightline, can unite the power of multiple tax technologies and give our clients a clearer view of their tax ecosystem, deliverables, analytics and progress in one place. We want to help our clients reclaim the time to innovate and plan ahead. And it doesn’t matter where you are on your tech transformation journey. Our Sightline technology is designed to help meet clients where they are now, and to grow and adapt with them as they innovate.
We continue to invest and broaden our tax technology ecosystem at a scale that may be too costly and time-consuming for our clients to implement on their own. That includes data acquisition and analysis, as well as our transformation capabilities. We have a team of seasoned innovators who also are technical tax professionals focused on looking ahead and building additional technology solutions.
When it comes to technology, you’re never done, and I think that’s a good thing.
Time better spent
Leaning into technology can give tax professionals more time to bring strategy and innovation to the table. Valuable, real-time insights can help business leaders shape investment decisions, as well as help identify the potential impacts of undertaking M&A transactions or expanding into other territories.
The C-suite is relying on the tax function to help enhance stakeholder trust by preventing tax consequences that may be financially or reputationally costly. The tax function also can play a key role in helping companies monetize opportunities found within regulatory updates and legislative changes, like those associated with the Inflation Reduction Act of 2022.
Tax leaders would like space in their schedules to help drive value through planning. They also would like to give their teams room to upskill, grow and innovate and that often means accelerating plans for digital transformation.
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