Transformation - Citizen led automation
How Technology can Reshape your Tax & STAT Landscape
The time to act is now
Are you tired of dealing with the endless complexities and frustrations of manual tax processes? Are you done with reconciling endless Excel files and finding copy paste errors or formula inconsistencies? Are you looking for a more efficient, accurate, and data-driven approach to managing your tax function? If so, it’s time to start investing in the transformation of your tax function, make it future-proof and have a more data-oriented starting point with automated processes.
By transforming your tax function, you can streamline your tax processes, reduce the risk of errors and inconsistencies, and improve the accuracy of your tax reporting. With automated processes, you can free up valuable time and resources, allowing your tax team to focus on more strategic and value-added activities.
In addition, a data-oriented tax function can help you stay ahead of the competition and meet evolving regulatory and compliance requirements. With real-time insights and analytics, you can make more informed decisions and optimize your tax strategy while minimizing your tax liability.
Investing in the transformation of your tax function may seem daunting, but the benefits far outweigh the costs. Not only can it lead to significant cost savings and increased efficiency, but it can also help you build a stronger, more resilient business that is better equipped to handle the challenges brought by today's complex and ever-changing tax landscape.
So why wait? Below you can find some more concrete info and contact details to learn more. We’d be happy to have a chat around how you can transform your tax function into a data-oriented powerhouse that drives success and growth for your business.
Every week, the same batch of spreadsheets is being mailed and reconciled manually. Once it’s done, I have to refresh my pivot tables to generate the correct Excel graphs. It takes at least 2 days to do all this work. This must be something that can be automated!
Business as usual
I need to rely on an expert from the automation or IT team to develop a new solution, which could take weeks or even months! Maybe it’s not even worth the effort?
This means...
Tracking down the right person to help and convincing them to make the request a priority
Explaining the requirements in detail to someone who probably doesn’t understand the work I do
Potentially spending weeks iterating (more if the IT/automation team is busy)
Once the new solution is developed, every time it doesn’t work, it needs to be fixed
The future
With new tools and training, I can solve my own problems and help my colleagues be more successful. I get a lot of time back and I feel like I’m adding more value to my team!
This means...
Exploring different ideas on my own without needing outside help
Completing 80%+ of the development work on my own, even though I cannot code
Reaching out to the IT/ automation team only if I have advanced questions
Being able to quickly create something that really works and share it with my colleagues!
Some tangible examples of what can be transformed and automated
Reconciliations
Link and match reports from different sources and systems like vendor & customer subledgers...
Cost allocation
Allocate overhead costs to business units via predefined rules
Report analytics
Interpret standard/custom reports and extract of relevant insights.
Budget vs Actuals
Compare budget with actuals in the context of cost controlling, accrual posting, etc.
Report Formatting
Structure data into visually attractive and understandable reports (with descriptive information and objective statistics)
Consistency checks
Validate data within reports to ensure correctness of interpretation (formulas, data quality,...)
Any time-consuming data processing task aiming to create insights and report in a structured format might be a perfect case for self service automation
How we can assist you in your transformation:
Connect with PwC Belgium
