Challenge:
Start with quality data
Challenge: The tax data you use is usually housed in different formats on multiple ERP systems and offline spreadsheets. Gathering data can be inefficient, tedious and subject to errors.
Automatic and electronic collection of relevant tax sensitized data. Effective solutions are designed to automatically store or collect tax data in a ready-to-use format and centralized location.
Solution
Improved data quality, minimized risk of error, and valuable time and cost-savings
Results
Discover our three steps to getting more out of your data
Smarter algorithms lead to smarter decisions
Challenge: Reducing large volumes of data to smaller, useable data to help you make more-informed tax decisions.
Smart algorithms that can transform and streamline some of the most fundamental tax processes – everything from classifying transactions to detecting errors and risk areas
Your team can focus on value-adding tasks, instead of wrestling with overwhelming information.
Insights that make an impact
Challenge: Quality data and smart algorithms are only half the battle. Organizations still need meaningful insights to identify areas of opportunity and risk in order to make impactful decisions.
Impactful insights driven by data analytics and professional intuition. A deep dive into the data can yield stronger, more actionable tax planning.
A high-performance data analytics strategy that avoids wasted resources and provides invaluable business insights.
Learn more about data analytics
Robotic process automation drives efficiency
Challenge: Unconnected systems, large volume of manual processes and data that is not tax sensitized risks costly errors and delays.
Robotic process automation (RPA) facilitates and streamlines interactions and reduces risk. Our simple approach identifies automation that automates you now – not tomorrow!
Operational excellence, accuracy, and the opportunity to drive more significant returns.
Consider the benefits robotics could bring your organization
Increase transparency with blockchain
Challenge: High-volume transactions that involve multiple legal entities and taxing jurisdictions interacting with multiple ERP systems make reporting challenging. Finance teams must manually reconcile transactions which consumes time and is error prone.
Blockchain for transactional transparency. Using even a single instance of blockchain can increase quality, speed and value at a lower cost point.
Increased back-office system and operational efficiency, creation of new business models, enhanced traceability and reduced risk of fraud.
Discover why blockchain is gaining momentum
Utilize best practices to generate added-value
Challenge: Innovative tax functions need a way to identify and successfully implement the use of new technology and best practices across all segments of the tax function.
Grant Thornton. Our path to innovation is tested, transformative and collaborative; identifying ongoing opportunities and quick wins.
A successfully implemented, customized tax innovation strategy that grows with organizations and guides them through the transformation maturity model.
Speak with a tax function optimization specialist
