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Transforming your tax function

Designing a transformation strategy to reach your desired state

With the recent disruptions to the workforce and budget pressures, tax functions must determine which processes they continue to strategically own, and which processes are better suited in another function or outside provider to meet their goals. Tax Reporting and Strategy (TRS) for Transformation will deliver a holistic approach to help you solve your operational challenges and reach your strategic vision for the function.  We help you emerge stronger by advising you on:

  • Operating model considerations and digital workforce strategy,
  • Process enhancements employing standardization and automation, and
  • A roadmap of key actions that drive your operations forward during this period of uncertainty.

Why Transformation? Why Now?

Now is the time to make strategic investments not only to maintain current stability but allow you to emerge stronger with immunity against the next disruption.

  • Are you looking to reduce operational costs, lower financial statement risk and accelerate process timelines?
  • Does your function need an independent, candid view of the risks and opportunities of the operations, including the upstream data environment?
  • How can your function best leverage technology during this time? Should technology be built in-house, rented as part of third-party services, or purchased outright?
  • Are you considering changes to your operating model or internal automation efforts to address recent budget pressures?

Our Tax Reporting & Strategy practice provides flexible, thorough solutions that help improve your tax function’s performance and reduce risk. 

We start by providing you insight into the current-state of your tax function operations. Our scalable approach will directly impact efficiency and effectiveness, including people, process, technology, and data.

Our services

Process & Controls

  • Significant deficiency and material weakness remediation
  • Accounting & Tax Policy refinement & documentation
  • Process redesign, rationalization & standardization
  • Risk-based & materiality prioritization/tiering
  • Internal control SOX review & redesign
  • Financial statement audit strategy

Data & Technology

  • Data assessment and data requirements development
  • Vendor assessment support
  • Technology implementation support (Tax provision, compliance, Collaboration tools, etc.)
  • Data automation opportunity identification and digital transformation (ETL and other small automation)
  • Analytics design and development

People & Organization

  • Organizational model design and transition: Insource, Outsource, vs. Managed Services
  • Roles & responsibilities matrix (RACI)
  • Upskilling identification and training program (e.g., Virtual Digital Academies)
  • Service center and/or center of excellence design and implementation
  • Integration support into Finance transformation
  • Department budget development and benchmarking

How we can help

A tax function assessment provides a strategic "stake in the ground" to develop the path to a future state, and supporting the business case for transformation. For new tax leadership or non-tax stakeholders (finance/C-suite), a tax function assessment can provide an independent, candid view of the tax function operations and risks.

Disruptions quickly uncover the areas of deferred maintenance in organizations. Although companies are strategically managing expenses through adverse events, these investments are key to maintaining the continuity of work and preparing for recovery. This kind of vision will help you achieve a resilient operating model for the long term.

Consider the following 5 fundamental and interdependent elements for organizational design.

Companies have different appetites for change. PwC helps clients in many ways, ranging from supporting your in-house tax function through consulting services, to fully onboarding and insourcing the tax function within PwC.


Contact us

Marjorie Dhunjishah

Marjorie Dhunjishah

Tax East Region Leader & Tax Reporting and Strategy Leader, PwC US

Mark Sumlin

Mark Sumlin

Partner, Tax Reporting and Strategy, PwC US

Nancy Hsieh

Nancy Hsieh

Partner, Tax Reporting & Strategy, PwC US

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