How is the Development of Tax Technology Creating the Future of Tax Department?
Increasingly, tax departments have started looking for technology to help them manage the challenges of regulatory complexity and global taxes. These departments use a series of cobbled-together tools that are often limited by non-compatible legacy systems, and they’ve been forced to adopt them as a result of various acquisitions. Functionality and data end up in silos, keeping some sectors of the corporation in the dark, preventing them from collaborating across platforms.
It is very rare that technology receives the kind of concentrated, strategic forethought it deserves. But perhaps now is the time for a change! So here are some of the critical areas in which tax technology development helps in preparing tax department for future challenges.
Streamlined Efficiency
Earlier, garbled spreadsheets, misplaced information, and shared drives were roadblocks to greater workplace...