What Boards Want to Know About Digital Transformation

As digital innovation sweeps through business processes, including those within the tax function, it’s increasingly important for tax leaders to understand how the transformation looks from the board’s point of view. More and more frequently, chief tax officers and vice presidents of tax are fielding questions from the board on the impact of digitalisation on tax strategy and that trend is only going to accelerate.

A new Deloitte e-paper, Winning with digital: What boards need to know about digital transformation, reinforces the understanding that technology is an enabler to success. Success happens by leveraging new ways of using technology and digital platforms with changed processes and the most valued asset any company has, the people who make use of the technology. Deloitte’s statement: “Digital transformation is not just about technology. It is about how a company can compete better using technology” summarises this nicely.

The paper explains how to achieve that competitive advantage in five steps:

  1. Understand what digital transformation is – and what it isn’t. Digital doesn’t have to involve massive upheaval; it can improve or expand what you’re already doing.
  2. Get your strategy straight. Deloitte describes three broad categories of digital strategy – improve the core, move into an adjacent market, create an entirely new business – and the six digital enablers that underpin them.
  3. Make sure your ambition is bold enough. Boards should understand, appreciate and embrace the full scope of the changes that are possible and which may already be impacting their industry. They also need to establish objectives that are aggressive enough to achieve sustainable competitive improvement.
  4. Envision your end goal. While every organisation’s approach to digital maturity will differ, the need to deliver exceptional customer experiences will require some non-digitally native businesses to change their corporate DNA to embrace a more digital culture.
  5. Don’t settle for random acts of digital. The board’s point of view is, by definition, the long-term and strategic perspective. It’s the board’s job to ensure management doesn’t waste its resources on a jumble of digital projects but instead lays the digital foundation for a winning business for the future.

Chief tax officers and vice presidents of tax should keep these approaches in mind as their boards grow more curious about the nature of digital transformation taking place in the tax function.

Explore more resources from our industry influencers:

Jen Kurtz: Chief Technology Officer at Vertex Inc. Vertex delivers the world’s most valued tax solutions for companies to connect, transact, and comply while growing their business.

Jen Kurtz

Chief Technology Officer

See All Resources by Jen

Jen Kurtz is the Chief Technology Officer focused on driving the technology strategy and next-generation products and solutions through customer innovation and emerging technologies. Jen leads the Office of Technology responsible for bringing together the technology vision, strategy, architecture, and capabilities required to drive breakthrough innovations that will propel Vertex forward in seizing new market opportunities.

Previously, Jen served as a lead member of the software development and commercial enterprise architecture teams. Prior to joining Vertex, she was a software engineer at Verizon and Platinum Technology (now Broadcom) respectively bringing large scale business applications to the market.

Jen has been honoured by Oracle for Women’s History Month and Working Mother Magazine at their annual Working Mother 100 Best Companies event. She regularly speaks at local and national technology conferences and has an M.S. in Computer Science from Villanova University and a B.S. in Computer Science from Bloomsburg University of Pennsylvania.

View Newsletter Signup

Explore Our Solutions

Discover how our technology solutions and software can help you streamline tax, stay compliant, and grow your business.

Browse All Solutions
Business using tax technology solutions