Transcript: Reframing Tax - Stuart Higgins

Transcript

Stuart Higgins: Something that I often hear in my discussions with clients and organisations is that transformation and the use of technology is critical to their success. But those responsible for tax feel this is something that's happening around them and I'm regularly asked;

"Am I the only one struggling to influence this?" And the answer to that is no, you are not alone.

Our research confirms this, and explores why it's happening and what tax functions can do about it. We found that organisations want their tax functions to transform and to be using the appropriate tax technology but when it comes to making decisions, those responsible for tax are struggling to influence all the decision makers.

Our research shows CFOs make decisions about the use of tax technology more often than tax directors, and CEOs are almost as likely to make these decisions as tax directors. This raises questions around the skills and insights needed to influence these decision makers and whether these aspects of the agenda are focussed on enough by heads of tax.

Our view is that the question of how to frame value for the tax function is becoming ever more complex. Efficiency, risk management, compliance, knowledge sharing and business partnering are all a part of the articulation but there are nuances. Value to a CFO compared with value to a CEO may well look very different. Our experience is that often value is not fully articulated, and projects may start without this being fully agreed. Interestingly our research shows most businesses have some form of a tax technology strategy or roadmap but not everyone's journey is progressing as effectively as they might like. Again, a question in our mind of value articulation.

So, where are you in your tax transformation journey? How have you framed value? Whatever disruption your organisation faces, we're here to help you unlock the opportunities, frame the value and to help you embed the changes that will make a positive difference.

Take the short quiz on our website to find out how to accelerate your tax transformation. You will receive tailored advice taking you through the actions to help ensure your tax transformation is a success.