5 tech boosts to elevate your corporate tax team.

TLDR:

In today’s rapidly changing tax landscape, corporate tax teams are facing increasing challenges such as regulatory requirements, talent shortage, risk management, ESG considerations, and the need for technological maturity. Technology can provide a boost to corporate tax teams by streamlining processes, improving data management, enhancing risk management, strengthening partnerships with finance, and aligning with ESG principles. By developing a clear roadmap that includes automated data management, robotic process automation, analytic process automation, and artificial intelligence, tax departments can add greater value to their organizations in terms of cost savings, penalty avoidance, and strategic planning.

Key Elements:

– Regulatory challenges and the need for improved data management
– Heightened risk management and the importance of automation and quality control
– Strengthening partnerships with finance to align on key challenges
– Addressing the growing importance of ESG considerations in tax strategies
– Developing a clear roadmap for technology investment and implementing automated solutions

Technology plays a crucial role in strengthening corporate tax teams and enabling them to navigate the complexities of the modern tax landscape effectively.