• Tax technology and Tax Performance Engineering

Tax technology and Tax Performance Engineering

Corporate tax departments face a growing list of onerous and time-consuming challenges. Regulatory reporting requirements are increasingly complex. Tax strategy and planning is becoming more important to the business. Finally, the volume and complexity of the data that has to be collated, processed and communicated is growing exponentially. BEPS, the growth of Big Data, and the ongoing digital transformation of industries mean that this trend is unlikely to change in the near future.

There are some questions we think you should ask yourself if you want to know whether your tax team or department could benefit from adopting a more digital approach and tax transformation.

  • Does your tax department function optimally?
  • Is your tax process flow efficient and streamlined?
  • Do your tax provision, compliance, and planning processes help mitigate risk?
  • Does your organisation have an understanding of its total tax liability?
  • Would your tax department be used as a benchmark by your peers?

Adding value through tax technology

Corporate tax departments must adopt digital technologies such as automation and AI if they want to focus on adding value and insight. Failing to keep up with best digital practice and technologies will leave you mired in manual management of data and at serious risk of non-compliance.

Adopting the right combination of best practice processes, supported by the right digital tax technology for your needs, will enable you to change the way the tax function is perceived by the rest of the business. You will move from being about processing and compliance to providing ‘real-time’ insight, ideas, guidance and tangible value.

For example, you will never face the nightmare of Year End again. Smart tax technology means that your data is processed, reconciled and validated in real-time. It will also improve quality and reduce risk. You will always be up to date and ready to report.

How you can become a better tax function with our support.

We have vast expertise in all technical aspects of tax and in the planning and implementation of effective tax processes.  We also bring our experience of working with a very wide range of UK and global companies in every sector.

You and your team will collaborate closely with us to organise your source data and design, map existing processes and document and implement an optimal process. We will then advise on and support the best possible use of technology so that your team can deliver all its functions as effectively and efficiently while adding tangible value to the business. You can rely on us for any or all of the following services; 

  • Review and analysis of current processes
  • Process Design
  • Data Assessment & Design
  • Creation of process roadmap
  • Software selection and assessment assistance
  • Software license acquisition assistance (if needed)
  • Customised training & assistance
  • Implementation of project design
  • Workflow and documentation
  • Parallel run assistance post-implementation
  • Ongoing support through “go-live” events and beyond
  • Ongoing process improvement consultations

Your team should be able to share and analyse data easily and in ‘real-time’ and easily so that it can focus on creating and communicating effective tax strategies. Our tax data analytics team will help you select, acquire and leverage technology that automates and executes routine tasks and supports intelligent analysis. As technology develops and tax regulations evolve, we also provide ongoing support for issues, large and small, for organizations of all sizes and across nearly every industry.

You benefit from our very flexible pricing model; you can purchase time from our team and use that resource as and when you need it most. This means you get the support you need it and can focus on meeting your challenges.

Tax Technologies

Our team has extensive experience both implementing and optimizing solutions from the major third-party tax software vendors:

  • Corptax Provision and Compliance tools
  • Longview Provision, Analytics and Transfer Pricing
  • Oracle Hyperion Tax Provision (HTP) and Tax Reporting Cloud (TRCS)
  • Thomson Reuters ONESOURCE Provision and Compliance tools (certified implementer), Indirect Tax/Sabrix, Indirect Tax/Cloud, and Tax Returns
  • Vertex O Series, Q Series, L Series, Cloud, and Returns
  • SOVOS Taxware Enterprise, SUT, and TaxSolver
  • Avalara Avatax and CertCapture