Information technology has brought many changes to finance, accounting, and tax operations in the decades since enterprise resource planning systems first appeared. For the most part, IT-driven innovation and transformation have found their champions in finance and accounting. Tax departments have traditionally been more cautious when it came to adopting a new technology.
Recently, though, tax’s role and reputation as a technology follower have quietly begun to change. Recognizing the integral and growing role taxes play in strategic business and financial decisions, many corporate and finance leaders are seeking tax departments’ involvement in executing the enterprise agenda and exploiting technology’s potential benefits.
It is a favorable time for tax to be gaining this newfound stature. Current emerging technologies have additional potential to improve operating efficiency and uncover new insights that can drive decision-making and performance.
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