Tax departments don’t solely exist to file taxes. Fueled by new technologies, they’ve evolved from centers for reporting historical information to sources for gathering and dispensing proactive business intelligence. It’s no coincidence that this evolution has aligned with the rise of information technology that impacts other business unit outside of tax.
Today, tax departments answer questions about the future, even when they’re not reporting past performance. They’re expected to do this with both speed and accuracy, and their insights are expected to be both factual and strategic. The degree to which business strategy depends on the work done in tax departments is a reflection of how technology has enabled tax departments to work more efficiently, both internally and externally.
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