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Keep it clean
Key points
- Digitalisation is transforming tax processes and financial functions.
- Firms have to adapt to different reporting and archiving systems.
- Data must be clean correctly formatted and stored ready to be used at short notice.
- Firms need to keep pace with the technology expectations.
Trading and operating as a business in the digital era comes with a unique set of ever-evolving challenges which have coincided with the data-driven economy.
The process of how businesses communicate with each other and governments has already changed irreversibly. We have seen a sweep of digital transformation to tax processes and finance functions being the focus for the past 20 years in an attempt to reduce fraud and close outstanding VAT gaps.
The further we move into digital processes the more data companies are generating – and the way this data is managed and interpreted is reaching far beyond the capabilities of humans....
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