Integrating Tax Data for Enhanced Business Insights PPT
This PPT slide, part of the 20-slide Tax Management & Strategy PowerPoint presentation, emphasizes the critical importance of tax data management within a company, outlining 2 primary reasons for its analysis. First, it highlights how effective tax data management can enhance various aspects of tax-related functions, including tax accounting, indirect tax, transfer pricing, compliance, and dispute resolution. This suggests that a robust approach to tax data can lead to more efficient operations and potentially mitigate risks associated with tax obligations.
Second, the slide points out that analyzing tax data provides deeper insights into other business areas, such as performance metrics across different components of the supply chain or gender pay equality. This dual focus on tax data not only serves compliance needs, but also informs broader business strategies.
The slide references a 2016 survey indicating that only 15% of manufacturing companies utilize business intelligence tools for data analysis. This statistic underscores a significant gap in leveraging technology for tax data, suggesting a missed opportunity for many organizations.
To achieve the outlined goals, a shift in mindset is necessary. The slide advocates for spending less time on data gathering and validation, instead prioritizing analysis and understanding of the data. It emphasizes the need for the tax function to integrate seamlessly with the company's technological infrastructure and financial information systems. This integration is crucial for minimizing exposure to financial statement errors and avoiding unnecessary controversies.
Overall, the slide presents a compelling case for rethinking tax data management as an integral part of the business strategy, urging companies to take a proactive approach in making tax data accessible and actionable throughout the organization.
This slide is part of the Tax Management & Strategy PowerPoint presentation.
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Tax Supply Chain Data Analysis Business Intelligence Data Management Manufacturing Compliance
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