The realm of taxation is no exception to the transformative power of technology. The intersection of taxation and technology, often referred to as Tax Tech, is witnessing a rapid evolution, reshaping how organizations manage their tax-related processes. Automation streamlines repetitive tasks, reducing the risk of errors and allowing tax professionals to focus on more strategic aspects of their work. AI is playing a pivotal role in data analysis, helping tax professionals extract valuable insights from vast datasets. ML algorithms are increasingly being employed to enhance tax compliance, risk management, and forecasting. Taxation is adopting cloud-based solutions at an increasing rate. Tax-related data can be accessed and stored via the cloud, promoting collaboration among team members regardless of location.
The quest for cost efficiency and resource optimization is a perennial driving force behind the adoption of technology in taxation. The automation and streamlining of processes reduce the likelihood of errors and free up valuable human resources for more strategic and value-added tasks. The ever-changing and complex nature of tax regulations worldwide is a significant driver for the growth of Tax Tech. Tax Tech platforms equipped with international tax compliance capabilities are essential for organizations engaged in global business activities propelling market growth.
This edition of CFO Tech Outlook facilitates Tax Tech innovations, which are undergoing a profound transformation driven by automation, artificial intelligence, cloud-based solutions, and blockchain technology.
It features a thought leadership article from Helder Pinheiro de Oliveira, Senior Accounting and Tax Manager at BeFly, who sheds light on how integrated management systems can make operations smoother and decisions more informed. It also features an article from Vanessa Ferreira Lukaisus, Tax Director at GM Financial, who talks about the importance of sound economic principles, practical political collaboration, and the ability to balance competing interests in order for Brazil’s tax reform to succeed.
This edition, featuring Top Tax Tech Solutions Providers 2023, we hope you find the right partner to meet your business requirements.
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