A high-performing, effective mix of people, process, and technology creates the right conditions for innovation. Today, the ability to collect, maintain and analyze data is also an important innovation ingredient. Together, the strengthening of people, process, technology and data allows any entity – including the tax department – to innovate in the pursuit of tax department objectives, managing to the preferred risk profile, environment and budget. This is tax function optimization. Our teams help you get there.
“Emerging technologies are rapidly transforming how leading tax functions operate. But to take full advantage of these technologies you need a plan. It starts with understanding your challenges and aspirations, an optimized process, appropriate technology, and strong implementation. This is Tax Performance Improvement.”
Our tax performance improvement services help companies to enhance their performance and productivity. The results are innovative solutions that deliver meaningful results for our clients, including:
- Improved quality, accuracy and timeliness of financial reporting
- Efficient, effective processes that incorporate best practices and quality controls
- Opportunity for cost reduction, co-sourcing/outsourcing, and streamlining
- Shifting focus from compliance to value-adding, strategic activities
- Achieving efficient, high-quality tax compliance
- Providing insights into data in an automated way
Tax performance improvement: Knowing where to start
When it comes to creating a high-performing environment, tax departments fall along a maturity continuum. Advancing your tax department along the continuum increases the department’s ability to innovate.
We provide services to elevate your position on the continuum, no matter where you are starting:
- Tax function reviews
- Tax data management, analytics and reporting
- Tax process design
- Technology roadmap development
- Software selection
- Software implementation, including leading vendors such as Thomson Reuters’ ONESOURCE, Corptax, Oracle, Vertex and Longview
Whether you’re just beginning your innovation journey or are well on your way and looking to accelerate your new investments, Grant Thornton’s TFO professionals can help.
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