Tax functions are under pressure to become more efficient and aligned with the business, whilst also handling greater amounts of information. All against the backdrop of increasingly complex regimes. Could data and analytics provide a solution?
When most finance teams think of using data and analytical tools to improve decision making, the tax function probably isn’t the first area which springs to mind. However, in my experience there’s massive potential to:
a. create efficiencies
b. improve insight of tax KPIs
c. improve stakeholder reporting
