Tax managers when IT asks them to use SharePoint as a Tax Data Repository

“If we can solve it with SharePoint, we don’t buy any other tool” 🥱. This is a quote that I have heard a couple of times when talking to tax leaders. As such I get it. It seems flexible, affordable… There are nevertheless very important comments to make here 👀!

True, SharePoint (and Teams) can be appealing to build e.g. a tax repository and have a version of workflows in place. Maybe some PowerBI on top of it, and you can even unlock intel from the data. Cool!

Here is the catch, however:

1️⃣ These are generic tools, not verticalised for tax. They don’t align with the complex structure and reality of the different tax domains, where you have the notion of financial years, taxable periods, legal entities, tax registrations, jurisdictions, and consolidations, …
2️⃣ Someone will need to build and configure your SharePoint. Tax people are not best placed to do so, we all know. There is therefore a tricky reliance on IT colleagues or consultants. Next to a key person risk, it is not efficient and suboptimal to manage.
3️⃣ Someone will also need to maintain what you have built. Keep it in the air. The truth is that software and tools, even SharePoints, are living entities. Once you roll out your initial version, the journey just begins. Every feature and every configuration demands ongoing care. Guess what? Your SharePoint responsible person will not be available anymore. Or may have left…

Some teams successfully build tax SharePoint solutions. Typically, multiple FTEs are required to build and maintain the thing though 💸. Furthermore, the shelf life of these is very limited, and very soon the maintenance cost will outweigh the benefits. The business case will be discouraging.

Do yourself a favour. Focus on tools that are verticalised for tax. Focus on SaaS, there is a reason why it dominates. No large (upfront) investments. Instant availability. Lower total cost of ownership. Best-in-class security. Scalability and flexibility. No maintenance. Continuous upgrades. Leverage third-party expertise. No key person risks…

Tax requires a deeply structured and verticalised repository. If not, no intel can be unlocked. If not, no AI can be applied. If not, very soon, you will be in trouble… If you decide that you'd like to switch to a dedicated tax data repository for in-house tax teams, reach out, theplatform can help. Or book a demo on our website: