Frequently, the terms technology and transformation are collapsed into a single notion under the implied assumption (or hope) that one – technology – will naturally lead to the other – transformation. It does not.
In fact, the opposite is true. Obtaining the best results from technology requires a transformed state to ensure the challenge is understood and approached correctly in the first place. As such, tax transformation (TX) and “Tax IT” are opposing strategies with distinctly different outcomes.
This table compares the two:
Consequently, TX offers tax team digital upskilling, tech-solution transparency, ground-up control, future-proofing, and “data”, which the Tax IT route does not.
However, TX requires some up-front groundwork to (re)set the trajectory from the outset—namely, a thorough exploration and grasp of the information fabric that makes up our newly digital lives in tax.
See recorded livestream TX: What Tax Needs to Know for an introduction to this topic and practical advice on how to move the needle a few more clock ticks towards a fully transformed state.
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