By: Dave Laurinaitis, Managing Director
I don’t know of any tax department not leveraging technology. For some, it may be as basic as Excel. Others rely upon third-party tax software to automate provision and compliance functions. Some others may have heavily invested in custom tax data warehouse applications and fully integrated technology processes. No matter how basic or sophisticated your tools, at the center lies data…and a lot of it. How well your team harnesses this data can make the difference between weeks, days, and hours of manual effort. And time spent always equates to money. The more efficient a tax department can be in gathering, processing, and managing the data required to facilitate tax operations, the more time that can be spent on creating value for the corporation by managing costs and keeping tax departments lean and efficient.
GTM has built a thriving practice around tax technology automation to leverage the tremendous amount of data inundating our businesses. Why? Because we believe that technology is a necessary enabler to perform tax department functions that keep pace with an ever-changing business climate. We established this blog as a way to provoke fresh thinking on how technology can support the tax department. We’ll be tapping experts from across our firm and will recruit additional industry gurus along the way to give you practical guidance on how technology can be used effectively while showing examples of how it is being put to smart use within the world of corporate tax.
Today’s reality is technology is here to stay — across all facets of our personal and professional lives. It’s our responsibility as tax department leaders to stay ahead of the changing tides before being swept up in the swift current of our workloads. Stay tuned in, subscribe, and weigh in with your perspectives.