At present, tax and finance leaders are witnessing a challenging tax environment globally. On the one hand, tax authorities are digitalizing tax administration—including sharing and reconciling of data between income tax, goods and services tax (GST), and customs—and increasing scrutiny at a transactional data level. And on the other hand, there is pressure to reduce costs within the tax function. In such circumstances, augmenting technology within the tax function today is now a “must-have” rather than just “nice to have”. It is thus becoming important to understand how and where technology can add value in a tax function with minimal investment.
For instance, tax teams spend significant time struggling with ERP data and spreadsheets from multiple systems for tax compliance as well as statutory and internal reporting. There is significant scope for automation in this area. Automation can provide control to the tax function on its data, enabling ease of reconciliation between various data sets. Besides, organizations can also implement digital tax compliance and litigation tracker. It can provide tax and finance leaders’ visibility on important areas such as tax and litigation status, tax refunds, tax losses, adequacy of tax provisions, etc. With smart alerts, tax leaders could also have full control over upcoming deadlines and hearings.
In the face of such tremendous advancements, we have compiled this issue of CFO Tech Outlook to help you in the task of finding the best tax tech solution providers. It is elaborately crafted to assist you in fostering productive partnerships and improving performance. In this edition, we have listed the most effective tax tech solution providers to highlight those making significant contributions to the financial sector. Equipped with innovative technological capabilities, these companies are set to transform the landscape. This edition also blends thought leadership articles from subject matter experts, CIOs, and CXOs. We hope this issue of CFO Tech Outlook helps you build the partnership you and your organization need to foster an ecosystem driven by robust and efficient technology.
We present to you CFO Tech Outlook’s, “Top 10 Tax Tech Solution Companies – 2021.”
