Tax is moving into a new phase. The usual strategy for technology no longer delivers. Companies must look beyond simply selecting the next product to install or service to buy for new ideas. There’s a strong sense that something is missing, which makes taxology more important than ever.
So, what’s missing? Certainly, the “people” part of people, process and technology is grossly under-served. Without the right understanding and thought processes, all tax technology strategies lack foundation and are destined to deeply disappoint.
The Smart Tax Technology Certification Program uniquely addresses this problem, and today we are pleased to announce our latest release:
Four Ways to Implement a Tax Engine
Most people don’t know there’s more than one way, and yet how you implement a tax engine can make the difference between confidently stepping full-bore into the digital-era or being a huge waste of time and money. This non-technical document first explains why, and then provides a basis for vast improvement in clear, business-focused terms.
It’s a must for all stakeholders in indirect tax and their service providers at large organizations.
Act Now! One week left before Smart Tax Technology’s price increases to $1,200 (currently $900 for lifetime membership). For tax professionals, there is no greater value to be had in the industry right now. It cannot last!
It introduces the PawPaw “Y”, an easy-to-grasp diagram that depicts the basic principles for improved technology adoption. It offers vital grounding for the forthcoming Part #3 as well as the entire program.
It is available now to existing members. For those yet to purchase, here again are the key benefits of Smart Tax Technology:
How to streamline local and international tax processes
How to meet the global tax digitalization challenge
How to make technology & enterprise data work for you
How to thrive in the information-age as a tax professional.
Discover the secrets of taxology now!
“I learned a lot!”
– International Tax Director and Smart Tax Technology member
Tax professionals are becoming aware of two things: their dependency on digital systems, and that they must know more about this area themselves. Handing this responsibility to others has proved largely unrewarding.
Increasingly embedded as business partners within companies, the tax team is assuming more responsibility and ownership over systems, projects and processes as they relate to tax, but there are concerns.
For a group of people used to high standards and consistent results, the current merry-go-round of trial & error and faltering baby steps with technology is risky, expensive and turbulent. Is this avoidable?
Yes, it is. Taxology is the missing piece of the puzzle, but what is it?
Taxology is knowledge, a skill-set and basic principles that underpin a rethink and recalibration around technology. What’s new this time (and this is key) is that its starting point is today’s professionals in today’s organizations.
Out of necessity, the full-stack tax department of today needs broader vision and competencies than previously. To learn new ways to speed up and improve this journey, click here now.
Specific skills are vital for success with tax technology. But with few guidelines and no suitable training these skills were hard to put your finger on, until now. The ‘Smart’ Tax Technology Advanced Program is more than a course. It’s also a living support community and an instant-access resource.
Recently we introduced the Tax Technology Insight Series (click here to view the announcement) where we explained how certain thought processes can make or break a company’s tax technology strategy. We then pointed out how you will benefit just by registering for free.
Now we are excited to introduce the 5-part Smart Tax Technology Advanced Program. As part of the Insight Series, it is the first ever to directly address the specific (yet broad) range of capabilities, methods, and knowledge needed for front-line governance, deployment and usage of technology in Tax.
Wait a Minute! What the Advanced Program is Not!
It’s *not* a series of technical courses (available from educational institutions) or product instruction manuals (available from the solution providers). Instead, it gets behind the superficial to distinguish what makes great leaders & practitioners of tax technology. This is crucial when the difference between the best and the rest can be measured in orders of magnitude of value returned.
In 2015, Thomson Reuters introduced the term “Taxologist”. We loved it! It was the perfect job title for those operating in this space. Then we realized that every company has one, namely those that handle even the smallest part of Tax systematically, and that’s almost everyone. Granted, many don’t think of it like that, at least not yet.
So, good Taxologists are key, but: What is a Taxologist?
How do they fit into the organization?
What skills must they have?
How do I get one, or become one, or be a better one?
How Does The Advanced Program Help?
Most people operate as if the technology itself is so complex and opaque that it is intractable and unknowable. This is not true. Details are important and cannot be ignored, but by presenting them conceptually it’s possible for stakeholders at every level to quickly comprehend, engage and contribute.
To achieve this, a set of fundamental principles and criteria, which are applicable to enterprise technology for tax business in general, are established. This then forms the basis for step-by-step examination of real-world problems, from which a set of ground-up best practices is derived.
Learn how to extract maximum value from tax technology
De-mystify industry rhetoric and de-code what the “experts” are telling you
Understand how pertinent, accurate, and robust solutions work, and avoid pitfalls
Elevate your own capabilities and prospects.
So, stop figuring it out yourself and join the fast track. Part #1 available now. Learn more here. Start today!
Acknowledgement of Thomson Reuters for introducing “Taxologist”.
This has been needed for a while. Tax managers ask us, “If there’s so much information out there, why are there still so few answers?” In this series we open the ‘black box’ and explore technology for what really matters and why. Join us for a journey that until now was not possible.
At recent conferences, we were taken aback at the level of perplexity surrounding tax technology. Companies struggle daily. Tax managers know that better options exist, but fear the next steps. Instead, they address only the most urgent issues as they arise in a patchwork fashion.
Unfortunately, this short term thinking means opportunities are likely missed, making it costly in the long run. In addition, ‘Big Bang‘ is an obsolete strategy that has been all but purged from the industry. So, what’s next?
Introducing the Tax Technology Insight Series
We dug deeper and found gaps in the information available to tax function stakeholders. Without the right thought processes, too much was being left to chance during strategic planning, product selection, and implementation. Attempts to limit this hidden risk were then inadvertently damaging the outcome. Uncertainty, rather than certainty, was driving decision making.
The Tax Technology Insight Series is designed to plug those gaps and lay solid foundations for sure-footedness going forward. It provides a basis for low-risk, low-cost, high-quality options by examining in depth the intersection between Tax and tax technology. Analysis is targeted, astute, and practical. For example:
“Tax engines are critical but otherwise don’t do much. Most the effort and the real value comes from management of tax data and the automation piece in ERP“.
Who Is It For?
This is for persons who suspect that there are better ways to do what they’re doing today. It’s for those who have suffered disappointing results and want to understand why. It’s for the ambitious who want to know how to improve their delivery. In fact, it will benefit almost anyone associated with tax technology at large corporations.
Joining is Painless and Free of Charge
The benefits start immediately. Download a FREE report today:
This report examines how ERP data impacts your choice of tax technology tools, the best ways to deploy them, and how to avoid major architectural pitfalls.
How Else Do I Benefit?
It starts you on a journey. With tax technology, all stakeholders must have a good view of the destination and the skills needed to navigate the roads, even if they ask someone else to do the actual driving. For example, it will help you to;
explain and communicate internally the importance of a good tax technology solution;
architect an effective solution, and avoid the ineffective ones;
remove risk from every stage of the process; and
improve compliance including future-proofing, and build a foundation for effective analytics.
Contributors to this series have 40+ years of success (mostly), experience and deep understanding to share. Along the way, we’ve identified mindsets and uncovered secrets that lead to real success in today’s technological world of Tax. Click here to join us today!