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Archive for Geoff Peck

So, Why Can’t We Use Excel For Tax Reporting?

Excel has been described as the most important business software application in use today.  It is convenient, inexpensive, easy to use, versatile and for all intents and purposes universally available on each office worker’s laptop.  However, this does not mean that every data manipulation task requires an Excel-shaped solution.  So, for Tax reporting and finance activities where does the suitability of Excel begin and where does it end?

Tax Reporting Solutions are Dead! 

A few years ago, while speaking to a respected colleague, he declared that “Tax Reporting solutions are dead!”.  When asked to explain he replied, “Excel can now handle a million rows!” Of course, he’s wrong about Tax Reporting, but after first wondering what version of Excel he’s been using it then became a case of wondering why he’s wrong. Read more

LAST CHANCE to Join Today’s Webinar! Plus, The 2017-18 ‘Technology in Tax’ Watershed

Complimentary Webinar starts TODAY at 9:00AM PDT/10:00AM MT/11:00AM CT/12:00 NOON EST/5:00PM GMT London

We are aware that many tax professionals are concerned about the pace of change in the industry. There is a growing inter-dependence between tax and technology that may soon mean one cannot be considered without the other. New regulatory initiatives, like BEPS, already assume this.

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LAST DAY to Register for Webinar, Plus 5 Simple Tax Technology Thought Strategies to Adopt Now

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? Read more

What Is A Taxologist and Why Do They Matter?

We believe Taxologists are the missing link between business, technology, and innovation. With many tax managers finding this space a challenge, Taxologists and the skills they possess matter a great deal.

Let’s explore further. In the face of technological revolution, tax managers are normally responding by either:

1. bringing in third-party tax technology products, appointing a vendor to install them and hoping there aren’t too many issues;

2. outsourcing to reassuringly expensive big-name consultancies; or

3. teaming up with IT and learning for themselves by trial and error.

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How “Technology” Fits Within Tax Technology

Recently, we talked with a frustrated tax manager who declared, “I just want tax technology to work!” A long conversation followed as we explored his expectations.

Firstly, he expected tax technology to work like a smartphone. After all, a smartphone is a supercomputer that his 10-year-old daughter can use (better than he can). We discussed why enterprise technology is not like a smartphone (spoiler alert: it’s because of data).

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Tax Technology And The Skills Needed To Succeed

The process seems simple enough. Company tax processes are under strain so the decision is made to invest in automation. A string of vendors turn up displaying their wares, and after some procurement hoop-jumping, one is selected. Installation is performed by a consultant with the product name on his bio. Job done!

Except that the job is not done. Do any of these sound familiar?

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