Inflation, interest rates, fuel costs, commodity prices, wages…not to mention a growing tax burden. Costs are soaring across the board for organisations and are top of every company’s agenda as a result.
For tax functions, the pressure to reduce costs and enhance cashflow is especially acute. More than ever, tax teams must ensure that cash isn’t being left on the table, and that their operations are as lean as possible.
A more strategic function
That means minimising tax leakage and taking advantage of the incentives you’re eligible for.
The right technology and data are essential to effective and efficient tax operations. Properly implemented, they will improve reporting accuracy; allow you to track incentives and regulatory change; and provide a granular view of your costs. In short, they’ll help you understand and address the tax risks and opportunities facing your company.
What’s more, they’ll streamline the work your team does. That reduces cost, and lets people focus on value-add activities like forecasting, planning, structuring and advisory – enhancing tax’s status as a strategic partner to the business.
How we can help you
Our experts will take you through a, six-step approach to driving cash tax and tax cost efficiency:
- Identify the cash taxes and efficiencies being left on the table
- Quantify the potential savings available to you
- Prioritise the most promising opportunities
- Implement the necessary claims and applications
- Embed the savings made into your everyday tax management processes
- Review your processes to ensure that the benefits are sustained
We can also help you rethink and refresh your tax function’s cost and value proposition, to make savings while remaining positioned for growth.
