Big data and analytics, artificial intelligence, robotic process automation; we all hear these terms often. Businesses are having to adapt to an increasingly digitalised environment. However, expanding global compliance requirements, inefficient processes and over-reliance on spreadsheets are taking a toll on strained resources. From leveraging technology to achieve operational efficiency, to enhancing intelligence from data analytics to manage company-wide risks, the tax function is set to transform into one that is fit for the future.
Whilst companies largely understand the importance of creating strategies around tax technology, most have yet to make appropriate investments in these areas. These investments are key to transforming tax into a core business function within any organisation. As such, it might be worth engaging in an assessment of your current position in the landscape and taking the next steps in the evolution of your tax function.
Tax Technology solutions come in a variety of offerings to help you achieve your business goals. Our expertise extends to enhancing ERP systems, data management / preparation applications, tax computation systems, visualisation and analytics tools and intelligent process automation through use of machine learning, and software robotics technologies.
Depending on the design of your tax function, as well as its current and desired states, 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.
Yap Sau Shiung
Tax Partner, PwC Malaysia
Tel: +60 (3) 2173 1555
Tax Executive Director, PwC Malaysia
Tel: +60 (3) 2173 1059