SAPinsider 2024 Benchmark Report

The global tax compliance landscape is undergoing a fundamental transformation, driven by technological advancements, evolving regulations and a demand for greater transparency and efficiency. Traditional, manual processes are no longer sufficient, pushing organizations to digitize and modernize their finance and tax functions.

Within the SAP ecosystem, these changes align with the increasing adoption of SAP S/4HANA. By integrating SAP S/4HANA with advanced sales tax solutions, global tax engines and e-filing systems, companies can streamline complex tax operations across different jurisdictions.

To understand these trends, SAPinsider conducted a survey involving 138 finance and tax professionals to understand the challenges in the tax technology landscape.

The survey identifies the key drivers for tax technology innovation. To address these challenges, finance and tax leaders must integrate tax strategy into their enterprise transformation initiatives, particularly those facilitated by SAP S/4HANA. This approach ensures that tax considerations are embedded into business operations, enhancing compliance and strategic decision-making.

Key Survey Insights:

• Compliance and efficiency: Increased efficiency (64%) and improved compliance (53%) are top priorities for tax technology innovation, with a focus on automating processes and improving data quality.
• Technological adoption: 56% of respondents intend to use machine learning and AI in their tax processes.
• Budget increases: 69% of respondents expect their budgets for tax technology innovation to increase in the next three years, indicating a strong commitment to enhancing tax functions.

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