How leaders are leveraging tax technology

0

Deloitte announced the launch of Technology in Focus, the third and final report in its Tax Transformation Trends series, which surveyed more than 300 tax and finance executives around the world, examining how technology has ushered in a whole new era of transparency for the tax function.

The study shows that business leaders expect this momentum to intensify with the OECD Pillar 1 and 2 agreements and the acceleration of tax authorities’ shift to digital tax administrations. In this survey, 70% of tax officials predict that tax authorities will have more direct access to their systems within three years.

Tax managers are leveraging next-generation ERP projects as a gateway both to teaming up with finance and to accessing tax-sensitive data through redesigned and standardized processes and integrated systems. 86% of respondents are in the process of implementing a next-generation cloud-based ERP system, such as S/4 Hana or Oracle Cloud. Confidence levels for ERP upgrades are high among respondents, and especially first movers. Companies already working in a next-generation ERP system see benefits that go beyond compliance and reporting.

As their role transforms, tax leaders are more involved in technology discussions — with finance, with IT, and even with senior management — than they probably were five or five years ago. ten years. Many interviewees are trying to exert a more significant influence on the technological destiny of their function. 48% say they are taking a proactive and extensive approach to technology strategy, including rethinking their entire digital architecture. This represents a sea change in the attitudes of tax professionals towards technological transformation.

Share.

Comments are closed.