Maintaining organized and accurate tax data is becoming even more important for businesses to grow.
Most companies understand the need for organized tax data when it comes time to file their annual taxes. Regulatory changes affecting partnerships and multinational corporations continually make reporting requirements more complex. Additionally, with today's data-driven business mentality, there is an increasing need to regularly provide company stakeholders—whether they be investors, corporate shareholders, tax authorities or regulatory bodies—with real-time tax information and to do so efficiently.
The need to have detailed tax information readily available year-round is inspiring a tax data transformation. A tax department that adds the most value is not constantly tracking down data from a variety of reports, spreadsheets and records. Companies that want to deliver for stakeholders provide tax data efficiently, limit risk and add value.