Vertex tax technology: Data intelligence for tax

Your tax department could be using all its data for more than just compliance

December 20, 2021

All tax departments collect data. But are you using it in an intelligent and insightful way?

Tax has access to one of the largest, most detailed datasets in the company: sales, purchases, expenses, payroll, and more. But many use that goldmine of information merely to support the monthly compliance process. You use data to generate and validate the monthly returns.

A truly value-driven tax function uses that data for more than just compliance. It leverages data intelligence tools to not only improve the accuracy of the returns, but unlock time, capacity, and insight, to become a more strategic tax function and drive better business outcomes.

You’ll reduce the time spent on compliance and focus more on higher value functions: like audit defence and planning to support the business.

Data Intelligence leverages every data point that already exists in various business systems, and turns it into insight for the tax function to enhance business outcomes.

Data Intelligence tools gives you insight about your customers, your vendors, your taxes collected and paid. Your newly released products and services. Your new selling and buying locations.

You can easily identify changes and trends; and pinpoint areas of risk that you can address more proactively, to impact the business sooner.

Data Intelligence turns raw data into insight; insight you can use immediately, to not only optimise tax performance, but to model, predict, and influence business decision-making to drive business growth.

It’s the key to moving your tax department out in front of the business, and becoming a profit centre; rather than just a cost centre that handles regulatory reporting.

With Data Intelligence, you’ll use tax data to identify new business opportunities, and influence business growth strategy beyond the tax department. You’ll become more proactive, not just reactive. You’ll measure the value contributed, not just the tasks executed.