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Trends in Tax
Trends in Tax
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Today's tax compliance landscape has never been more challenging. As global e-commerce transactions continue to grow and organizations integrate digital business activities with their existing operations and ERP systems, the end-to-end indirect tax process is becoming more complex and costly to manage.
To avoid financial risks, penalties, and supply chain disruptions, organizations must calculate indirect taxes efficiently and accurately. Regulatory updates specific to indirect tax calculation and compliance, such as first-time-right mandates, require organizations to modernize tax functions and replace certain manual processes with indirect tax process automation.
When it comes to equipping organizations with the capabilities and technologies required to implement tax automation in support of an effective digital tax strategy, consider the following:
Organizations should modernize legacy ERP systems to leverage standardized solutions
Evaluate and understand how third-party tax determination and tax automation solutions supplement the core ERP financial system
Explore e-filing and e-documentation management solutions integrations with centralized transactions repository to help reduce tax team workloads
Explore third-party solutions to help navigate static global IT budgets for tax automation
Download this Benchmark Report to learn more about the insider trends.
26
Jun
2018
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