← Blog home As corporate tax departments embrace digital transformation, utilizing a tax engine to automate and simplify tax calculations and reporting is becoming a core part of their strategy. Indeed, fully half of tax professionals surveyed recently said their companies are either already using an indirect tax determination engine or plan to purchase one in the next 12 months, according to the Thomson Reuters Institute 2024 Corporate Tax Technology Report . Given the numerous advantages of automating manual tasks—like reducing human error, keeping up with regulatory changes, and embracing innovation for increased efficiency, accuracy, compliance, and reporting —it’s clear that implementing such a solution is beneficial. However, introducing this system comes with its own challenges. Addressing these issues from the start of your tax engine integration project is crucial for success. Here, we provide suggested strategies to overcome your business’ tax engine integration challenges in the digital transformation process. Highlights: Integrating a tax engine is vital for automating tax calculations, but it requires meticulous project management. Seamless integration with existing IT systems, particularly ERP solutions, is crucial for accurate tax calculations and reporting. Thorough testing and continuous improvements help ensure your tax engine functions correctly and delivers expected […]
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