How to transform disruption into opportunity
The global tax landscape is changing quickly. Disruptive forces in tax are significantly affecting organizations’ taxation, operational structure and growth strategy. To overcome this, today’s tax function is in a unique position to transform what it does and how it does it, ultimately contributing to an organization’s growth.
The issues our tax clients are facing today are not the same ones they faced a few years ago. Evolving trends are changing the way tax functions are operating—both in day-to-day and in long-term strategic planning. We’re seeing the skills required of the workforce evolving, the demands on the tax function increasing, and geopolitical influences having a greater effect. But if organizations take action, these challenges can turn into opportunities.
For more on disruptive forces in tax, see the latest in our Tax transformed series as we explore the five themes below.
TransAlta has adopted a flexible automation solution that frees the tax team from manual tasks while improving speed and accuracy.
Through automation, the tax team has reduced its reliance on labour-intensive Excel spreadsheets, freeing up time for value-added tasks.
By automating processes, CP Rail’s tax department has improved the timeliness, accuracy and transparency of its financial reporting.
Reduced reliance on labour-intensive tasks is creating more space for the tax team to seize new opportunities and manage emerging challenges.
Restructuring, centralization and refocusing all part of long-running changes to create space for an expanded role in supporting the business.
In this series of monthly digests, we will explore topics like tax disruption, the changing role of the tax professional, and the role transformation plays in future readiness.
You will also hear from organizations that have already begun their transformation journey to become more efficient, ultimately delivering more value from their tax function.