Finance vs. Tax

Tax has always been the little sister of finance. It has historically always been and grown that way. Sure, tax is part of the sameOffice. But from all reporting lines the CFO has, typically tax gets the lowest amounts of resources and tools. In this day and age, that is a very baffling and sad reality 😟

80%+ of multinationals are in the midst of a cloud ERP migration. That is a very necessary and strategic project. It consumes at the same time a lot of headspace and budget. Despite the significant expected business value, the actual immediate tax value of such a tool is fairly limited. Nevertheless, during the multi-year roll-out of the new ERP (and oh yes, the timeline is always delayed) tax is requested to put their transformation journey on the back burner. There is no budget left for tax tools. Tax should just continue with the existing modus operandi: unstructured processes, manual work, spreadsheet-driven operations and very complex workstreams 🥵

Despite this reality, tax is pulling their weight. Tax is all about the details and precision. There is no or little room for error. Tax is not hit or miss. This puts a lot of strain on the team. The pressure will only go up due to more regulatory, macroeconomic and business change. How long can this be sustained?

We are nearing the bottom of the low season, and the Olympics are in full swing. Maybe a good moment in time to regroup with your CFO and discuss the acceleration of the transformation of your tax function?

Open to further discuss thetake on transforming the tax function - book an intro call here