KPMG LLP
KPMG’s Approach
KPMG LLP’s Transaction Tax Systems (TTS) practice professionals can assist clients in their efforts to transform their corporate tax organizations from being centered on reactive administrative support services to a focus on proactive thought leadership and bottom-line contributions. KPMG starts by assisting the business in identifying its needs, goals, and objectives relative to transaction tax compliance. After the needs, goals, and objectives are defined, KPMG assists clients in undergoing a methodical assessment of the current processes affecting transaction taxes to determine how those processes align with the overall goals and objectives of the company. The result is a carefully crafted Business and Functional Requirements document that identifies future-state processes that bring the transaction tax objectives into alignment with the overall goals of the business.
A client may then decide (or may have already decided) to automate certain or all aspects of its transaction tax processes, including tax decision making and reporting. If this decision is to automate all or part of the transaction tax function, we can assist clients in addressing the tax considerations unique to their business when they have decided to implement Vertex Software. Usually, implementation of the applications involves integration with the business’s financial applications.
Benefits
KPMG’s TTS team can assist clients that are implementing automated approaches to their transaction tax compliance process in a way that helps streamline processes that can result in time and cost savings. These goals are accomplished by helping businesses redesign their transaction tax decision-making and return-preparation processes, improving data consistency and providing a mechanism for adapting to potential changes in either the tax reporting processes or the underlying technical rules. As a result, a tax department’s productivity is increased by:
- Easing the administrative burden and improving the accuracy of sales tax reporting data
- Providing an opportunity to redirect resources from tax reporting to more rewarding activities, such as tax planning and analysis
- Helping to return the tax decision-making responsibility to the tax department (from other areas such as accounts receivable, accounts payable, purchasing, and billing departments)
- Reducing audit cycle time
KPMG’s Tax Technology Resources
Our TTS team comprises professionals with extensive tax-related backgrounds—former state and local tax auditors and corporate tax finance directors—who bring their understanding of state and local tax practical and technical issues into the tax automation design process.
Additionally, our team has a foundation of technology skills that can assist in bridging the gap between a client’s Tax and Information Systems groups that is often critical to providing our clients with an integrated tax technology approach. Our TTS professionals are experienced in the integration of Vertex Software packages with various ERP, legacy, and e-commerce software solutions.
KPMG’s Approach to Tax Technology Systems
Using extensive knowledge of transaction taxes and technology systems, KPMG’s TTS team works collaboratively with clients to identify automated approaches to meet specific needs. For example, KPMG can help with streamlining and making available a company’s transaction tax reference materials to other areas within the client organization.
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