Tax & Accounting Blog

Thomson Reuters Poll: 50% Tax Professionals Have Staffing Worries

Global Tax Compliance, ONESOURCE, Tax Provision, Transfer Pricing, Trust & Estate Administration, Trust Tax, Trusts, Unclaimed Property, US Income Tax Compliance, WorkFlow Manager December 21, 2011

During his interactive opening session at this year’s ONESOURCE User Conference, Joe Harpaz, senior vice president and general manager of Corporate Income Tax, incorporated real time vote-by-text polling that revealed that from the 1500 tax and accounting professionals in attendance, half felt limited staffing was their biggest challenge.

When budgets and personnel are hard to come by, turning to technology is  typically the only viable option,”  Joe shared.

In a specialty riddled with interpretations on regulations to which there is no mold, it is our broadening client base that enables us to create flexible solutions. Feedback from the polls also indicated that in addition to staffing worries, IFRS adoption was on the mind of tax professionals. 

46% of ONESOURCE clients indicated that pending IFRS adoption would have the biggest impact on their tax department. Knowing that our solutions for income tax provisioning and uncertain tax management have already been proven by companies adopting and filing under IFRS eases the fear of the future in a big way.

Tax departments need to be nimble to keep up with constant changes in staffing, budgets, and regulatory requirements. We remain committed to developing tools that couple systematic calculations with flexible data management to combat those challenges. To learn how tax professionals at multinational corporations have tackled major corporate tax hurdles, click here.

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