Vertex Inc., the leading provider of corporate enterprise tax solutions and services, held its annual Vertex Exchange Europe Conference last week at the Waldorf Hilton Hotel in London, United Kingdom.
This year’s conference, the annual premier event for European business tax technology professionals, featured Professor Richard Susskind OBE, who provided interesting perspectives on how technology is changing the work of global tax professionals as it relates to both income tax and transaction tax functions.
“Tax professionals are under pressure to accomplish more work than ever before, while reducing costs and internal head count in the midst of very difficult economic conditions,” said Susskind. “This dilemma will define the next decade for tax professionals, and from a technology perspective, the industry will need providers to deliver advanced technology and services at more affordable costs in order to keep pace with increased compliance requirements.”
Professor Susskind further identified big data and artificial intelligence as powerful trends that can leverage data and provide insight. “Alternative and innovative types of technology can be harnessed to work more efficiently and more strategically because in the future of tax, automated compliance will not be an option, it will be unavoidable,” commented Professor Susskind.
“Professor Susskind, a global consultant and expert who is influential and well-respected in the industry, offered unique insights on tax and technology as they apply to international tax issues, and what professionals and companies can do to respond to the continuing demands of corporate tax,” said Jeff Westphal, Chief Executive Officer of Vertex Inc. “Professor Susskind underscored the impact that emerging technologies can have in the tax world by helping companies to organize big data and compete in the ever-changing, global tax landscape,” added Westphal.
Professor Susskind advises international professional services firms and national governments. His main area of expertise is the future of professional services and is the author of numerous books on the legal sector, including The End of Lawyers? (2008), Tomorrow’s Lawyers (2013), Beyond the Professions (with Daniel Susskind, forthcoming), and has also written 150 columns for The Times newspaper in the UK.
Since 1978, Vertex, Inc., has been a leading provider of tax technology and services, enabling companies of all sizes to realize the full strategic potential of the tax function by automating and integrating tax processes, while leveraging advanced and predictive analytics of tax data. Vertex provides cloud-based and on-premise solutions that can be tailored to specific industries for every major line of tax, including income, sales and consumer use, value added and payroll. Headquartered in Pennsylvania, and with offices worldwide, Vertex is a privately held company that employs over 900 professionals and serves companies across the globe.