Hear from tax professionals that have successfully made the move.....
The tax technology market is well established, and has been developing steadily over the last 15 years or so. Tax as a subject area has and will continue to ride on the IT technology wave, and therefore continually generating demand for people with hybrid tax and IT skills. They even have a professional name now – a Taxologist. Not my suggestion!
There will be a number of tax professionals out there, finding that their current roles are having to increasingly embrace the use of IT systems and technology. The natural question will be – should I make the career move to tax technology full time? Should I convert to Taxologism? What would life be like as a Taxologist?
My business Talentpool Selection has been recruiting around the tax technology market, mostly in the UK, ever since this sector emerged. As a recruiter, I was placing people into tax software roles (fancy spreadsheets!) in the 1997-2000 period. Back then for a tax professional, that felt like a very brave move! The internet was still in its infancy, and there was no way of seeing where it may lead. Some of those that made the move back then, and stuck with it, have seen their careers blossom enormously as computing and technology has boomed.
So the next question – is it still a good time to get into tax technology? The answer is undeniably yes! Technology continues to evolve rapidly, and this continues to bring new niche areas within the tax technology sector. One major area is where ERP systems have linked up with tax. This has opened a number of career doors in the market for those that either already have, or are willing to develop into tax data technology, ERP configurations, or SAP/Oracle tax modules or add-on solutions. Tax automation within global multinationals is becoming a reality.
But, hey, don’t just take my word for it. It’s advisable to hear from those that have made the move. We asked a couple of people that we have placed in the market to give us their thoughts and experiences.
Insight from a tax software developer:
“Having worked in tax compliance for a number of years I was looking for my next move and considering the areas which interested me and came upon tax technology.
I had always had an interest in new technology and solutions and was always the member of the team who would volunteer to test anything new. I am now two years into my new career path and have found this willingness to try things out and “play” is very common amongst my colleagues. The work we undertake in developing software is a world away from the compliance work I was used to, we have to provide a solution that allows all our clients to find the correct answer rather than a specific result which just works for one company.
The work we do is very rewarding and when you talk to clients who appreciate the assistance the software provides you get a real sense of achievement, even though they will always come back “wouldn’t it be great if the software could…….”
Feedback from an Implementations Consultant with a tax technology provider:
"I was working for more than 8 years in the tax compliance and outsourcing department of a Big 4 firm when I realized that tax functions will soon suffocate under continuously increasing reporting requirements without the help of technology in dealing with repetitive and time consuming tasks.
I have always been a technology enthusiast, thus the decision to move to the tax technology field came naturally for me and it actually meant uncovering that ‘magic veil’ seen by the end users and discovering all the processes running behind the scenes to transform trial balance data into detailed reports, financial statements tax disclosures and even tax returns or other sets of reporting requirements."
For further discussion, or to understand more about where your experience could fit into this continually developing sector, please call Simon Godley on 0044 7771 762353 or email: firstname.lastname@example.org