How Big Data is Transforming the Retailer's Tax Function

Big data analytics are transforming the retail industry by giving companies a chance to translate deeper knowledge of their customers into deeper value throughout the customer lifecycle. Leveraging this opportunity requires a strong customer-focused data management capability. The need for more robust tax-focused data management is also rising, as retailers strive to remain compliant with increasingly complex tax rules and a growing demand for tax transparency. This paper examines these interrelated trends and identifies four tax automation capabilities residing in retail tax functions that provide more value to their organizations throughout the tax lifecycle.