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Corporate Transformation

Empowering tax leaders: A checklist for early digital transformation involvement

Thomson Reuters Tax & Accounting  

· 5 minute read

Thomson Reuters Tax & Accounting  

· 5 minute read

Actionable steps to secure your tax department's participation in your organization's digital transformation initiatives.

As a tax leader, seize the opportunity to shape your organization’s digital transformation from the ground up. By involving your tax department from the very beginning, you can significantly boost the success and efficiency of these initiatives.

This proactive approach fosters a more integrated, compliant, and strategic transformation, ultimately driving greater value for your organization. Leverage this checklist, filled with actionable steps and insights, to navigate the complexities of digital transformation and position your tax department as a strategic partner in this journey. Use it to guide your efforts in securing your department’s early and impactful participation.

 

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1. Align with organizational goals

2. Develop a comprehensive plan

3. Build strategic partnerships

4. Advocate for early involvement

5. Embrace technology and innovation

6. Invest in training and skill development

7. Leverage automation and integration

8. Secure leadership buy-in

9. Monitor and evaluate progress

10. Prepare for future challenges

 

1. Align with organizational goals

    • Understand your company’s broader digital transformation vision and align tax department goals with these objectives.
    • Demonstrate how tax planning can enhance strategic planning, minimize compliance risks, and boost profitability.

2. Develop a comprehensive plan

    • Quickly assess and identify tools that support departmental and organizational digital transformation.
    • Evaluate current technology stacks and employee skills to ensure alignment with digital goals.

3. Build strategic partnerships

4. Advocate for early involvement

5. Embrace technology and innovation

6. Invest in training and skill development

7. Leverage automation and integration

8. Secure leadership buy-in

    • Engage leaders by demonstrating potential ROI benefits of technology adoption.
    • Showcase improvements in risk mitigation, cost reduction, and enhanced strategic capabilities.

9. Monitor and evaluate progress

    • Continuously assess the impact of technology on department goals.
    • Use data metrics to access ROI and make adjustments to ensure benefits.

10. Prepare for future challenges

Maximize your organizations’ potential ROI

By using this checklist, we hope that tax leaders like you can effectively integrate tax considerations from the start of your organizations’ digital transformation journey and maximize potential ROI.

Dive into our e-book Maximizing ROI: Why early involvement of your tax team is crucial in digital transformation today to learn more.

 

Maximizing ROI in digital transformation

Maximizing ROI in digital transformation

Get your tax team involved in your organization's digital transformation from the start

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