Empowering your business, everyday
At PwC, we build market-ready solutions and digital platforms designed to address the changing market paradigm for our clients. We are innovating to provide definitive plug and play solutions for pressing organisational challenges.
Built through decades of service experience spanning across Assurance, Tax , Advisory and Consulting lines of service, our technology solutions are designed to deploy quickly and accelerate value delivery on the go.
At PwC, we believe it is the powerful combination of the best people, empowered by market-leading technologies, that enables us to deliver quality and value at a whole new level. We are constantly innovating to enhance your audit experience, leveraging new and emerging technologies to give you real-time delivery, increased efficiency and greater transparency.
Our global ERP system ensures quality and consistency through every stage of the audit. During planning, Aura plays a critical role in helping us to identify risks, which drives the design of our audits, ensuring our PwC teams across our global network take a consistent, focused and efficient approach to audit risk.
Our award-winning data auditing technology helps build our understanding of your business performance in real time and across your entire data set. Halo uses data and visualisation to analyse internal and external drivers of your business, to identify areas of higher risk, direct audit work, and generate insights to share with you. It’s fully automated, making the process faster and more efficient.
A collaborative workflow tool allowing fast, secure information sharing. We’ll work with you using Connect, our global coordination tool and your portal to the audit. Connect streamlines, standardises and automates real-time communication in the workflow between your teams and ours, 24/7, wherever you are in the world. This secure, web-based tool ensures faster issue resolution by aggregating issues and events in one place. Issues are tracked and flagged so they can be identified promptly and resolved quickly.
A digital web based application that leverages the Halo for Journals outputs and automates Revenue CAATs logic to create a streamlined and standardised product. The tool responds to the need for engagement teams (i.e retail or manufacturing clients) to focus their testing on unexpected journal entries (higher risk). It allows teams to automate the revenue testing, enabling standardisation and consistency across engagements to reduce inefficiencies and improve quality on our audits.
The tax function in a company has assumed a huge significant recently due to both internal and external push. Tax authorities are focusing on data and analytics more than ever before. Hence, there is a need for transformation.
The tax transformation journey will not be easy, but it is now imperative and the return on investment can be significant. We can work with you to develop and implement an action plan to help level up to your desired end state. But “one size does not fit all” and to start the journey, you should assess the gaps between where you are now and where you want to be. Depending on the design of your tax function, this could mean developing a holistic tax technology strategy and roadmap as part of the overall tax strategy, or it could simply mean identifying solutions for specific processes and embedding them into current tax operations.
Tax authorities and other stakeholders expect Tax functions to be able to demonstrate, with evidence, that they have operated in an effective and efficient way. They must be able to show, often via a formalised tax control framework and testing programme, that tax risk is mitigated to an acceptable level and tax opportunities have been taken in line with the organisation’s overall attitude to reputational and compliance risk.
Increasingly managing tax is not a purely technical challenge and the skills required also include technology awareness, project management, leadership, and communication with the wider business in a way that they understand. Hence, it is important to have a robust tax governance to increase transparency of your tax data and gain trust from the stakeholders.
PwC has developed the global Tax Management Maturity Model (‘T3M’). The T3M methodology and tool leads the organisation in a practical way to a Tax Control Framework (‘TCF’) designed for the needs of the organisation. With the T3M, we will help you to review your current state of tax management across your business.
Core processes and routine activities can have a significant and lasting impact on the Tax function. As tax laws and accounting standards continue to evolve, Tax is challenged to look closely at how data and related documents are received, processed, and ultimately retained, while continuing to add value through strategic decision making.
Many have responded to these changing tax requirements by developing solutions with varying approaches including automation and the leveraging of enterprise-wide data. PwC has the necessary skills in Tax and Technology to work with you to identify, map and transform your tax processes utilising the latest technology developments to automate where it adds value.
RPA (Robotics Process Automation)
Robotic Process Automation (RPA) is a feature of intelligent process automation (IPA) that takes productivity optimization to the next level by redefining work and re-assigning employees to execute higher-value activities. While the process bots are capable of independently performing simple human-like functions such as interpreting, deciding, acting, and learning, your tax function can redirect focus on activities that create value and job satisfaction.
Data Preparation Automation
Streamline your data preparation processes to deliver your data outputs quickly and accurately.
Tax Data Visualisation
Visualise your data to facilitate business planning and opportunity discussions with your stakeholders.
Unlike other data analytics and rules based software, Swift uses machine learning technology which enables continuous improvement in data classification without needing to be explicitly programmed.
This means that Swift continues to get more accurate and efficient over time. Swift’s indifference to data volume makes it easy to analyse multiple/large data sets for which manual review and classification is prohibitive.
Data Hub is a web-based software that enables collaboration between finance and tax teams to prepare reports via trial balances generated from ERP systems. It also allows you to zoom in to key information and financial ratios for each entity/country.
Tax management can no longer just be taking care of compliance. It takes having in place oversight, control and governance over activities beyond compliance, to make a tax function effective and value adding. This may include:
defining standards for compliance and reporting processes
implementing a tax risk management framework and prioritised risk mitigation strategy
tracking tax audits and issues resolution as well as their future impact
providing efficient and impactful visibility of tax status and outcomes to stakeholders
adoption of technology for management and reporting its tax operations
PwC’s Tax Management & Reporting Solution (TMRS) addresses the needs of an effective tax function by looking at best practices of tax management. It promotes collaboration from every territory/entity on tax operations and centrally store important tax documents in a single platform. It also streamlines tax reporting and tax risk assessment using data visualisation to drive and support decision making.
Managing tax in a dynamic and digital world
We offer not only end-to-end IT solutions for crafting your software, but we have a set of packaged technology products which we can customize based on your needs. Digital Transformation has never been easier.