Global Tax Outlook 2020
Tax technology
Technology has several roles to play. As organisations look to improve their process efficiency and introduce standardisation where possible, technology tools help in the automation of those more routine processes. And as tax becomes a bigger part of strategic decision-making then real time access to tax data needs to be accessible alongside other cross functional data. This points to an integrated technology solution, though not necessarily always a large investment in technology.
Technology has an important part to play in addressing the challenges that tax leaders face. Yet many organisations are still in the early stages of their technology maturity and have limited resources to invest in technology and process improvement. This is in a landscape where tax authorities are increasingly looking to businesses to be technology savvy and to make tax digital.
The more mature tax functions are investing in tax technologies to automate the compliance burden as lower cost alternatives are emerging. Tax technology is a key component of managing compliance more effectively and delivering value.
of organisations have a documented
tax technology strategy
This varies by region. A further
27% have considered documenting
but have not yet done so.
their tax technology strategy
20%
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OUTLOOK REPORT
Listen to part of an interview with Robert Aziz, BDO’s Global Head of Tax, on technology and adopting digital strategies in Tax.