Tax & Accounting Blog

Taxologist Blog Series Part 3: Lay the Foundation for a Successful Implementation

Best Practices, Blog, Corporate Income Tax, Global Tax Compliance, ONESOURCE July 29, 2015

Pssst…missed part 1 and 2? Click the links to take a few steps back! Part 1 and Part 2

Our 7-part Taxologist blog series will offer best practices on how to ensure you have a smooth implementation once you have started your tax technology journey.

3. Communicate your goals

The goals you laid out when creating your business case for tax technology will lay the foundation for the implementation. Is your ultimate goal to better manage compliance or minimize risk? More accurate data or streamlining data flow? Make sure that the members of your tax department involved in the implementation understand these goals. As you begin work with your technology provider, communicate these goals and revisit them regularly to make sure the project is on track.

4. Establish a timeline

Because each company is different, there isn’t a standard amount of time it takes to implement tax technology. Factors such as size, legal entity structure, and global nature factor into the time it takes to get tax technology up and running.

Work closely with your technology provider to establish a timeline for implementation. Communicating blackout dates early on, such as quarterly earnings periods, will help determine a timeline that is realistic.

For more insights on how tax technology affects a corporate tax department, meet our featured Taxologists!