Whatever the issue — addressing regulatory compliance, responding to market events and new tax legislation, or hiring talent — one of the underlying solutions lies with technology and innovation.
Our survey of 500 C-suite executives at large companies emphasizes the role that technology and artificial intelligence (AI) will play in tax’s transformation as it expands its mission from a compliance function to a broader value creator for the business. Already, tax departments are helping to power corporate innovation and prepare their companies for financial challenges — from sustainability and regulation to risk management. With the corporate tax landscape growing increasingly complex, investment in the tax department has become linked to an organizations long-term health. Tax, reimagined, is expected to be a strategic powerhouse.
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Measured speed – the 21st century business currency
As the pace of change quickens, leaders should be nimbler when addressing challenges or could risk losing their competitive advantage. Many organizations have turned to alternative sourcing models to equip and strengthen their tax departments with the necessary skill sets and technologies for proper data analysis.
A convergence of tax and tech – the anatomy of the modern tax professional
AI is expected to create a corporate reality of the ‘haves’ versus the ‘have nots’ between those who adopt the technology to transform their tax departments and those who get left behind. KPMG has been investing in AI for more than a decade. By putting AI technology in the hands of KPMG professionals, we’re helping to change the game in how they serve and deliver for clients.
Global Head of Tax Technology & Innovation, KPMG International and Partner, KPMG in the US
The modern tax department has a different seat at the leadership table than it did in the past. As a department of versatile, tech-savvy strategists, the tax department of the future has its eyes around the corner and has the opportunity to be every company’s hidden advantage.
Global Head of Tax & Legal Services, KPMG International
If you'd like to learn more about the topics covered in the 'Tax Reimagined 2023: Perspectives from the C-suite' report, please contact us to continue the conversation.
The tax profession is at a pivotal moment of transformation – and C-suite leaders are working to keep the pace .
The tax profession is at a pivotal moment of transformation – and C-suite leaders are.....