Tax Innovation: Tax Performance Improvement

A high-performing, effective mix of people, process, and technology creates the right conditions for innovation. Today, the ability to collect, maintain and analyze data is also an important innovation ingredient. Together, the strengthening of people, process, technology and data allows any entity – including the tax department – to innovate in the pursuit of tax department objectives, managing to the preferred risk profile, environment and budget. This is tax function optimization. Our teams help you get there.

“Emerging technologies are rapidly transforming how leading tax functions operate. But to take full advantage of these technologies you need a plan. It starts with understanding your challenges and aspirations, an optimized process, appropriate technology, and strong implementation. This is Tax Performance Improvement.”

Jeff White

Enterprise Tax Automation Leader
Grant Thornton LLP

Our tax performance improvement services help companies to enhance their performance and productivity. The results are innovative solutions that deliver meaningful results for our clients, including:

Improved quality, accuracy and timeliness of financial reporting
Efficient, effective processes that incorporate best practices and quality controls
Opportunity for cost reduction, co-sourcing/outsourcing, and streamlining
Shifting focus from compliance to value-adding, strategic activities
Achieving efficient, high-quality tax compliance
Providing insights into data in an automated way

Tax performance improvement: Knowing where to start

When it comes to creating a high-performing environment, tax departments fall along a maturity continuum. Advancing your tax department along the continuum increases the department’s ability to innovate.

We provide services to elevate your position on the continuum, no matter where you are starting:

Tax function reviews
Tax data management, analytics and reporting
Tax process design
Technology roadmap development
Software selection
Software implementation, including leading vendors such as Thomson Reuters’ ONESOURCE, Corptax, Oracle, Vertex and Longview

Whether you’re just beginning your innovation journey or are well on your way and looking to accelerate your new investments, Grant Thornton’s TFO professionals can help.