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.
When tax groups and their organizations begin to consider a new investment in tax automation (or integrating existing tax automation with a new ERP system or procurement platform), it is useful to assess their current tax automation approach. Learn the four sets of key considerations to identify important questions for project teams to address and respond to as a means of strengthening their implementation plan.