Tax Technology

Tax and finance functions are increasingly asked to take on added responsibility; to increase output with reduced resources. At the same time, closing and reporting cycles are also further compressed. Thus, tax function leaders are increasingly turning to technology solutions as part of the solution to improve effectiveness and efficiency and to “compress time”. External to the tax function, many companies are undergoing various forms of finance function transformations. This causes disruption and change to the tax value chain between shared service centres and local and regional offices and headquarters. Tax leaders turn to technology solutions to actively manage the risks associated with this new geographically stretched tax value chain.

The challenges ahead

• You want to gain insight at group level on global or regional tax positions.
• You want to gain insight into tax numbers (transparency).
• You want to retrieve – from existing systems (e.g. cash management) – information that is relevant for tax decisions.
• You want to test tax relevant data (consistency, plausibility).
• You want exception reporting for tax sensitive transactions.
• You want to sensitise your ERP systems for tax. 
• You want to configure your consolidation systems for tax reporting.
• You want to retain and extract data for tax audits.
• You want to manage process risks in tax accounting and compliance processes.
• You face shortened closing and reporting cycles for tax.
• You want to automate tax computations / tax decisions.
• You want to reduce the cost of tax compliance.

How PwC can assist you

• We help you set up a tax technology strategy.
• We help you implement tax technology solutions (direct and indirect tax).
• We help you with tax sensitise ERP systems.
• We help you configure consolidation systems for tax reporting.
• We help to establish automated tax computation or tax decisions.
• We offer support for shared service centre staff with technology tools for tax.
• We help with tax technology vendor selection processes.
• We help create automated tax dashboards (KPIs).
• We help address the tax functions technology needs as the finance function changes.