I’ve sometimes asked of senior level tax technologists to reveal ’3 Things’ that they have learnt by working / living within the tax technology sector. I think this is great stuff to share as it can give comfort to other people in the sector if they are experiencing similar issues or frustrations, but also act as a learning exercise.
Here’s a couple of recent examples:
Senior level tax product specialist:
(i) Technology cannot succeed unless it is adopted by its users; it must be able to adapt to business processes
(ii) Software does not replace people. Users still need a professional service from pre-Sales through implementation all the way to post-Sales support.
(iii) From SarbOx & SAO to Edward Snowden and EU GDPR, data security and privacy are now the crucial themes that must be addressed in all new tax technology
COO of niche tax software business:
(i) Let your customers write your sales pitch. The best way to shape your promotional message is to listen to your existing customers and discover what they like about your offering.
(ii) Never stop challenging your established processes. It’s very easy to accept the way things have always been done, but those who do the frontline work are often best placed to recognise the potential for more effective and efficient solutions, so listen to them if they speak up.
(iii) Don’t panic! We all face moments when it feels like it’s all going wrong – either you’ve made a wrong move or someone has stolen a march on you. If your strategy is well founded, however, and you keep on track, more often than not things come right.