Journey of the tax people, by the tax people, for the tax people.
Transformation (as this newsletter defines it) is needed because traditional corporate cultures exhibit a feral compulsion to apply conventional solutions to new-era digital problems and optimize their businesses for today rather than for tomorrow. The cost of this goes beyond financial as, over time, the deficiencies creep into the fabric of their organizational ethos.
To reveal the thinking-behind-the-thinking for this, we have adapted an excerpt from Lindsay Herbert’s excellent book, Digital Transformation, as follows:
While the ultimate aims are valid, and no one can argue with the objective of ‘better business through technology,’ what is missing is a structure for fulfillment that corresponds with how technology truly works and adds value.
All the thinking above is incomplete; the leadership knows this from experience but is unsure why. Collectively, they just cannot see their way clear to altering the playbook. Typically, a widespread display of hesitancy then sets in.
This matters to tax because tax has a bigger challenge than most. As a knowledge-based industry where ‘data’ is everything, the established ways are failing just as the demands on tax are greater than ever. Tax has no choice but to tackle its tech-driven destiny head-on. Of course, this newsletter recommends using people-centric TX, not Tax IT.
The good news is that this is now within reach!
There is a way to test the waters of tax transformation (TX) with a low-cost, low-risk, and no-lock-in strategy without disrupting anything you are already doing.
We recommend this approach because there is no substitute for walking the walk with new boots for yourself. Then, if it’s not for you, you can at least say you tried―but we don’t think that will happen.
The image above provides an overview of our TX framework. Stay tuned as we delve into the details in our upcoming newsletter editions. Be assured that it will be worth the wait.
Oh, one more thing before we forget – TX offers a 4x improvement over the Tax IT route―that is, double the benefit @ half the cost and a tax career that conforms to tax’s inevitable future.
Until next time …
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