Five questions to ask
Tax & AccountingCorporate12/07/2021 12:00:00 AM

Five questions to ask before you invest in new tax technology

 How to identify the tax technology platform that’s right for your organisation.

Many organisations still rely on spreadsheets, ‘bolt on’ ERP tax solutions or ‘point’ solutions that solve for individual elements of the tax reporting and compliance process, but don’t necessarily work together as an integrated whole. This means inefficient workflows, increased admin burden, and a longer time to execute tasks.

The current environment requires moving beyond spreadsheets and point solutions to a single, integrated tax platform. A platform that acts as your tax data ‘hub’, automating your tax reporting processes and flowing data into your income tax return, across all tax territories. A platform that’s easy to set-up and use, but with support readily available if you need it. 

But as much as technology is appealing, it can also feel daunting. With many options available, how can you identify which vendor and platform is right for you? 

To help you with this decision, we’ve come up with five key questions to ask about tax technology before investing in a new solution. Once equipped with this knowledge, you and your team can get ready to take advantage of a solution that promises efficiency, increased auditability, and allows for greater collaboration and control.

In this guide, you will learn the importance of a tax software solution that:

  1. Fully integrates the tax provision and tax return.
  2. Produces a full tax balance sheet.
  3. Configures easily to meet your organisation’s changing needs.
  4. Provides timely, effective customer support after implementation.
  5. Automatically produces your tax provision.