Technology Trends in Tax Compliance

Tax automation is helping customers shift from 15 hours to 15 seconds of work.

Video Overview

In this World Finance video, David Deputy, director of strategic development and emerging markets at Vertex, looks at the increasing trend towards automation and how we are working with customers to turn 15 hour tasks into 15 second tasks.

  • When new technologies like Robotic Process Automation (RPA), Articificial Intelligence (AI), and Machine Learning come out, there’s a reaction from the public to make use of them—the benefit being that human actions can be mimicked through technology to save time and offer other benefits.
  • We are collaborating with companies today to reimagine processes with technology. We are looking at RPA to further automate the process of filing returns at the U.S. state level. Another area is intelligent product taxability mapping with machine learning.
  • It’s not just us looking at these technologies. We’re seeing tax authorities use the technologies as well, which David touches on in the video.
  • David reminds us that the key, ultimately, is to make sure the industry collaborates with the government, to keep one another informed and moving forward.

World Finance + Vertex

In March 2019, tax professionals, solution experts, and our very own customers met in Munich for Vertex Exchange Europe. World Finance interviewed half a dozen delegates for an update on Europe’s tax compliance challenges and technological advancements.