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The old mapmakers, when they reached the edge of the known world, used to write, “Beyond here, there be dragons!“. Today, true tax transformation (TX) is often treated the same way―see TX vs Tax IT. Which are you?―that these unfamiliar waters are a risk to avoid for now. 

However, this is false reasoning. Greater risk lies in an incorrect response to the inevitable march of tech, especially when TX offers buried treasure and tax is already a latecomer to transformation in general―see TX: What Tax Needs to Know

So, what does the TX journey of discovery look like? Here is the tried & trusted path laid down by those who went before and were successful (many others were not): 

  1. Educate – Learn from the early navigators and create a low-cost, low-risk, no lock-in plan of your own 
  2. Engage – Socialize, share, enroll, influence, and persuade stakeholders of the value of your plan  
  3. Execute – Show early excellence in tax tech via transparent methods that achieve transformed outcomes in ways people have not seen before―in other words, make the unfamiliar feel familiar and safe.

The 3-Step Xyto TX Framework

Christopher Columbus, the 15th-century explorer, despite visiting new lands four times, never acknowledged that he had not reached the East Indies, his original goal. It was Amerigo Vespucci, several years later, who showed that a “new” continent had been discovered, one that now bears his name―America. Tax professionals can ill-afford such a misstep.

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