How will tax technology change a company’s tax function?
This is a really crucial question, and with no one obvious answer. The sector is evolving at a steady pace, and there are now a number of tax technology solutions at the enterprise level that large corporations can consider. But which direction will they go in? And what do they want the end result to look like? More importantly, what are the key steps that a tax function can take to ensure it is on the right road map to installing the most effective tax technology?
Will they aim to have all tax data embedded and centralised in SAP, with a tax compliance process generated from a few mouse clicks? Or will SAP / ERP house the financial data warehouse for the company, with a number of add-on solutions to handle tax compliance, workflow and reporting?
Tax Technology experts at PwC have done some recent studies in this subject area, and have made some predictions about how tax functions might operate differently in the future.
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