Identifying efficiency opportunities in your data management process

Global and domestic tax reform and shifting requirements to become more strategically focused means tax departments must look for new ways to do more compliance work with fewer resources. Changes coming down the line, such as the new global minimum tax, public CbC reporting, and further TCJA updates, require direct tax teams to have a robust process in place which leaves no room for error.

How do you find opportunities for optimization in your process?

Whether your tax department co-sources, in-sources or outsources, your data management process is essential to work with optimal efficiency to save valuable hours finding the right source data and moving it to other applications.

Jessica Liu, Senior Manager of EY’s Tax Technology and Transformation practice joins our own Minesh Patel, Direct Tax Proposition Manager for a guided discussion to explore how to look for gaps in your current data management process that could benefit from automation and keep your tax team focused on value-add work.

This guided discussion covers:

• How new challenges have led to evolving priorities for today’s tax departments
• Findings from Thomson Reuters 2021 State of the Corporate Tax Department survey
• The shift to hybrid models and why opportunity lies in data management processes
• How to look for opportunities for automation in your data management process
• How to make the best decisions for your organization
• A look at Thomson Reuters Data Hub in action
• Best practice tips to optimize your data for outsourcing

Join us to learn best practice tips and solutions to help navigate your tax departments’ journey towards becoming a more insight driven tax department.