How to realize the value proposition of transformation when most the funding is for taxtech.
Tax is caught in what is now a classic dilemma. That is, while most of the budget is spent on taxtech, the real value proposition lies in transformation. Put another way, investments in taxtech misfire without transformation, yet the laser focus remains firmly on taxtech spend alone, instead of the more effective people, process, technology, and ‘data’.
This trap is a classic one because swathes of industry have been trying to figure out digital transformation since the turn of the century with mostly questionable results. Tax is now in the same boat. The pinch points are many and similar, although tax has its own challenges. Going forward, tax needs to be in control of taxtech just as much as with tax business today.
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