Gartner research reveals that the top reasons for lack of satisfaction with technology do not relate to technology itself.
Our own investigations agree. It is clear that business understanding of the technology’s purpose is the biggest factor in realizing value.
Okay, that’s great! But what does it really mean? And especially if we want to go beyond automating a few manual processes or replacing a few spreadsheets?
It means starting with the right mind set. Nothing of real value can happen on the ground without a clear vision of the end-state and a well thought out strategy on how to get there. So, for those responsible for tax at major corporations, here are 5 thought strategies to adopt today:
1. Ensure everywhere touched by tax is in scope, not just the tax department
Tax permeates the entire organization, so this is the horizon needed for a meaningful ROI.
2. Think holistically
Each part of a tax solution contributes to a larger whole where the total value is greater than the sum of its parts.
3. Treat tax technology as tools in a toolkit, not plug ‘n play
Tax technology tools act upon a body of tax data that they may not have full control over, for example, in ERP. This means they cannot always be treated as self-contained.
4. Be Data-focused
Data is the glue that holds everything together. Data integrity, its characteristics and flows are of paramount importance.
5. Business before technology
Business and technology inter-react to impact each other, but the guiding hand must come from the business side.
Great start, but how do we actually achieve this? Rounding out this new narrative requires the vision and skills of a Taxologist. The PawPaw Taxology Smart Tax Technology Advanced Program is built specifically for this purpose.
With a focus on both concepts and best practices, this program benefits business stakeholders, technologists, and those implementing alike. The new narrative demands that all parties are satisfactorily informed, otherwise desired outcomes could be lost through the misconception of just one key person.
Avoid the trap of discounting the value of knowledge about technology, and take advantage of the only training of its kind now.
You are invited to a unique and complimentary webinar on corporate tax technology! Are you caught up in a world of corporate tax software and wondering how to get it all in sync? This unique webinar is hosted by Geoff Peck and Bill Wilson (PawPaw Technology) who will explain what is happening to corporate tax departments everywhere. Your company has purchased technology and is trying to figure out how to best integrate it with all the other software in your organization.
Enjoy an insightful look into what is really happening to corporate taxologists today and how to best tackle the challenge of understanding how all the software fits together. Geoff and Bill will guide you through what you need to learn to give you a significant competitive advantage.
Have a question? Contact Geoff Peck
Your comments are welcome!