building

 

You’ve probably noticed that we’re big fans of automation and the benefits it can bring for your organisation in terms of tax compliance. But really, what are the building blocks that make up a truly end-to-end automated process?

This is our view:

 

Let's take a closer look:

Data Collection 

Data – whether structured or unstructured – is fundamental to tax compliance and needs to be collected efficiently and accurately from ERP and accounting systems.

Where do we fit?
Our Data Management Suite removes the need for manual collection of data by providing a choice of data collection options ranging from integration with your Statutory Accounts software, online systems for collection of structured and unstructured data, to fully automated data extraction.

Data Management

Data is handled multiple times by skilled staff who could be better allocated to higher value-added activities. This level of human interaction increases risk of error due to re-keying or copy and paste mistakes and opens the way for breaks in the audit trail.
 
Where do we fit?

Our Data Management Suite helps consolidate, cleanse and store data in a common format and allows for the mapping and importing of data from multiple data sets to the same computation engine.

Regulatory Compliance 

The creation and preparation of computations, correctly formatting and tagging electronic submissions, tax sensitisation and review of processes for multiple requirements is complex and time-consuming.

Where do we fit?
Compliance Suite, with built-in legislation, helps simplify a complex environment with tools that automate the compliance and submissions process.

Compliance Reporting

With the scale of increased reporting obligations alongside demands for increased tax transparency, at a time when tax team resources are stretched, traditional approaches to meeting tax compliance requirements are struggling.

Where do we fit?
Compliance Suite solutions take raw data and create, calculate, review, convert and submit annual tax reporting in line with current tax authority rules. They provide clear audit trails and generate user friendly management reports, whilst XML and iXBRL tagging formats support the relevant taxonomies.

Process Management 

Increased visibility of people, systems and processes offers better control of the tax compliance lifecycle across your organisation.

Where do we fit?
Our Process Management Suite provides companywide insight into ongoing submissions, helping mitigate risk and enhance productivity. The solution brings together all compliance reporting, workflow and productivity information and analytics through automatic interrogation of multiple systems and multiple jurisdictions. 

If you’re at the point where you’re ready to embrace technology and automate your tax compliance processes –whether in part or end-to-end, you can read more here.