Finance transformation
Finance transformation programmes are a key way in which your business can seek cash savings in order to maximise shareholder value. The tax function can contribute significantly to these cash savings by configuring ERP systems to capture and report on data in a way that supports tax claims, deductions and elections that cannot be readily accessed.
Circumstances where your company could benefit from a finance transformation programme include:
- Following the appointment of a new CFO or a major acquisition or sale.
- Restatements, material weaknesses or other reporting errors
- A change in the company strategy or organisation
- The installation of a new ERP system
Issues and trends
Our solutions
Deloitte offers three main areas of solutions:
- Tax trading model
Analysis of a client’s company structure to identify the supply chain model which provides the optimum level of tax efficiency for the business. - Tax transformation
Review of recommendations around the client tax processes, technology and people in order to improve efficiency. This encompasses both the tax team itself and the impact of the ‘shadow tax team’, those outside the tax function such as Accounts Payable and Finance who make tax decisions. Recommendations can include optimising ERP systems and the installation of other software such as indirect tax determination engines, tax provision software, tax return solutions and tax workflow. - Tax ERP implementation / optimisation
ERP systems when installed ‘out of the box’ frequently have little tax optimisation. Through a thorough knowledge of the client’s tax processes, Deloitte can help you configure these tools to work efficiently to support your ability to meet your tax compliance and reporting obligations.
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