The Traditional vs Transformational View of the Impact of Technology on Tax … and why it matters more than ever

From 20th century data processing to 21st century digital empowerment

People like to think of “transformation” in terms of digital transformation, or the introduction of technology into the way tax works today. This typically translates into the notion that automation leads to transformation, but this is incorrect. In fact, if taken too far, that thought process can be quite harmful.

Possibly it’s the word “digital” that’s confusing, it’s hard to know. But on the other hand, it’s easy to see how the “digital” in digital transformation gets collapsed into a single idea of “technology”– after all, most of the relevant technologies today are “digital technologies” in any case.

However, that’s not the best way to think about it. Instead, the advent of digital information technologies to a knowledge-based tax industry (where information is king) is so profound it causes a complete revolution! Nothing remains untouched – the very definition of transformation and it involves people, process & technology.

It works like this – if information is knowledge, and knowledge is power, and information technology greatly increases the power of information, then knowledge workers like tax professionals are suddenly super-charged!  It’s like your source of propulsion being lifted from peddle-power to rocket fuel!

Conversely, without that power, the traditional tax professional is increasingly hamstrung in a digital world. The table below demonstrates this:­

However, there’s a big caveat before transitioning from the first column to the second – tax professionals must become digital natives. If this cannot be achieved, then rocket fuel is useless to them.

What’s more, they must do this without becoming “IT” people, which was never going to work in the first place. Instead, they need to become more like digital power users, and we’ve figured out how …

Ready to find out more?

Join us at our Masterclass, learn how to elevate the tax profession, leave your current funk behind, and send your career to the moon!

Tax Transformation Essentials

3 Steps To Nirvana & Elevating Your Tax Career

Tuesday 13th September 2022 @ 11:30 BST/ 12.30 CEST

Securing a space at my masterclass is FREE (usually $179) for the first 50 registrants but with over 60% of these tickets already gone, you’ll need to act fast…­

Until next time …

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