Business model evolution is accelerating more quickly than ever. Take the first step towards transforming your tax department to increase your team’s agility and position your tax function as dynamic, fluid and influential.
As they accelerate their digital transformation, embed new ways of working and identify new growth opportunities, companies are relying on their tax departments to offer perspective and help navigate challenges that arise along the way. The tax function is being called on to transform its role from compliance manager to that of strategic advisor to the business. Tax leaders are rethinking how the function works in three fundamental facets:
• The operating model
• The talent to execute it
• The technology needed to support the model and unleash new, value-added capabilities
Tax departments are looking to see how they can work with leading providers in an outsourcing, co-sourcing or insourcing relationship to help achieve their goals. Deloitte’s Tax Operate services is your proven provider, working with you to stay ahead of regulatory changes, simplify compliance, harness technology and data and elevate your tax function.
Questions to ask yourself
What’s my tax team’s current capability in terms of people, technology and workflows? Where can we find the greatest gains to improve agility in our tax operating model?
Considerations:
Thoroughly assess the skill sets of your people, your technology maturity model, the business implications of the work that you are doing and the governance/compliance processes that you have in-house. By understanding the state of your department and where you need the fastest gains, you can set priorities and map the best plan to meet your business needs.
What’s my timeline for getting to a more modern, data-driven operating model?
Considerations:
Given how quickly data, business models and regulations change, speed matters. The faster you can modernise, the more benefit you stand to gain. Which means the further you are from using modern platforms, tapping real-time data and using your tax staff to leverage both, the more you should consider a hybrid staffing model outsourcing specific discreet functional tax processes and activities.
How can tax technology help increase efficiencies and improve company performance?
Considerations:
Exploring paths to new tax operating models can not only control costs, but they can also support real-time, accurate, forward-looking insights and processes that turn tax from a necessary cost of business into an invaluable resource that drives optimised competitiveness as well as seamless, continuous compliance.
Deloitte is a leader
Deloitte won the Tax Compliance Firm of the Year award in International Tax Review’s Americas Tax Awards 2023.
Deloitte won the Tax Technology Firm of the Year award in International Tax Review’s Americas Tax Awards 2023.
Deloitte won the Tax Technology Firm of the Year award in International Tax Review’s Asia Pacific Tax Awards 2023.
Tax transformation trends series
The executive summary
For a high-level overview into how change is being achieved by leading tax teams within their tax operations, talent and technology departments, read our executive summary.