No two businesses will have the same tax transformation journey.
BDO's Tax Transformation Guide outlines how middle market companies can transform their tax practice to navigate the increasingly complicated web of tax laws and regulations, increase the tax department's adaptability and help gain insights to inform and drive business strategy.
BDO's Tax Transformation Guide
Predictive modeling capabilities
Siloed tax function
storage & sharing
Automation of data entry
& routine processes
Limited transparency &
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Automated document & workflow management
No data management strategy
Manual data entry
Tax data portals
Higher-level automation tasks
Enhanced reporting capabilities
Holistic view of total tax liability
Real-time monitoring &
BDO developed this Tax Transformation Maturity Continuum to help companies assess where they are in the transformation process, identify areas of improvement, and begin to develop a strategy to transform their tax departments.
Tax accounting, reporting, and compliance requirements are becoming increasingly complex.
To navigate these changes and increase efficiency,
tax departments should leverage technology-backed process and solution improvements.
Transforming your tax department can
increase operational accuracy, provide
actionable insights, and strengthen the
department’s position as a strategic
driver of revenue.
Centralized tax data warehouse
But these changes
don’t happen overnight.