Migrate tax solutions to the cloud

Moving applications to the cloud is an exciting step for businesses, including the tax department. It’s important to make tax transformation part of your organisation’s digital transformation strategy.  

What are the benefits of using a cloud tax solution?

One major advantage is that it centralises all tax data in one place, making access for the tax team easy. This means the data your teams need can be found, without fuss, even during an audit.  

Another reason to migrate tax solutions to the cloud is that tax team and internal IT teams no longer have the burden of keeping up with constantly changing tax rates and rules. The cloud tax solution takes care of updating the system, saving time and effort for your tax team.  

Cloud tax solutions include a wide range of advanced tools and methods for analysing tax data, such as microservices and customisable AI tools. These technologies allow for smarter data driven decision-making without requiring specialist coding knowledge.

Moving to the cloud also brings cost savings. Cloud-based systems are more affordable to maintain, and update compared to traditional on-prem options. Cloud-based ERP ecosystems enhance data access and with improved access to transaction and tax data, automation can identify overpayments and potential refunds. Analysis of credits and incentives can uncover previously unknown credits.  

A cloud tax solution is flexible and scales as you grow, empowering the tax team and transforming tax operations. Including tax in a cloud migration helps your tax department deliver increased value to your business and by working directly with a tax technology provider makes it easier  

Accelerating tax transformation with Vertex, Oracle Cloud and KPMG

According to a McKinsey survey, the pandemic accelerated digital transformation of customer and supply chain interactions, as well as internal operations by as much as 3 to 4 years. CFOs, CTOs, and CIOs are reimagining tax processes, exploring ERP platforms, and data accessibility, so they can plan and streamline tax operations for today and tomorrow. 

Vertex, Oracle, and KPMG are driving the transformation of finance through cloud-first initiatives that produce comprehensive and connected solutions accessible through our cloud platforms.  

Watch this webcast to explore:

• Common business, regulatory and organisational drivers, and goals for transformation
• Recommended cloud platforms, tools, and processes to streamline your financial operations, reduce risk and improve compliance  
• Case studies, metrics, and shared learning from your peers
• KPMG’s best practices for integrating Vertex with Oracle Cloud, including how to plan for and tackle a challenging implementation as well as how to avoid common traps in indirect tax transformation journey. 

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