INDUSTRY OUTLOOK
2 . Culture is key
Tax departments must embrace digital transformation as a permanent culture shift , not just a one-time event . This requires focusing on non-digital factors such as change management , communication , processes and employee upskilling . Tax professionals must adapt to changing tax legislation and evolving technologies , and embrace a culture that values data ownership , adaptability and change . By focusing on data , tax departments can provide insights , identify trends and avoid mistakes , becoming a strategic asset to the organisation .
3 . Identify pressure points
Every organisation faces different pressures that evolve over time . Any review for tax must be performed with a proper understanding of these broader factors
( whether internal , market , or compliancedriven ) to help ensure the tax function can secure the right amount of investment to deliver its ambitions .
In a recent survey , 58 % of finance executives felt competing priorities diverted technology investment away from the tax function , while more than seven in 10 tax professionals feel they are being overlooked when it comes to the business investing in transformative technology . www . intelligentfin . tech
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