Tax departments are becoming increasingly aware of the benefits of digital transformation . In times of economic uncertainty and dynamic tax regulations , the importance of agility and resilience , facilitated by automation and transparent data , becomes even more pronounced . Amid swiftly changing tax laws and technology , the message for tax professionals is clear : doing nothing is not an option . In this article by Andrew Burman , Principal , and Global Practice Lead of Transformation at Ryan , we ask : how should tax executives begin their transformation journey while continuing to manage their existing responsibilities ?

1 . Understand the importance of self-knowledge

According to research by Industry Dive and Ryan , 68 % of tax executives believe that outdated technology will impact the effectiveness of the tax function within three years . However , only 37 % of finance executives share the same concern . To overcome this challenge , it is essential to have an external partner who can provide fresh perspective and coordination efforts to communicate with other functions like IT , finance and operations .

Tax should communicate well with other stakeholders , understand its context and engage in a confident , consistent , positive way about why change is needed and how it can be achieved .

Andrew Burman , Principal , and Global Practice Lead of Transformation at Ryan www . intelligentfin . tech

39