Survey reveals macro trends driving tech adoption in tax and finance

Thomson Reuters has launched the inaugural Digital Transformation in Tax Compliance and Statutory Reporting 2023 Survey Report today. The series unveils how tax compliance and finance professionals are driving digitisation.

Part one, Macro Trends Driving Tech Adoption in Tax and Finance, taps into data from 257 executives with decision-making authority. They lead operations in Australia, India, Japan, Southeast Asia, and the Middle East and North Africa regions.

The report shares the practices, plans, and priorities of leaders at the forefront of innovation. “Overall, these professionals are driving tax technology roadmaps that shape a future characterised by transparency,” said Carl Olson, Vice President – Proposition for Thomson Reuters Asia and Emerging Markets.

Digital transformation is delivering a range of benefits for many industries and sectors. These include stronger regulatory relationships and an enhanced brand reputation, added Carl.

Decision makers on digital transformation  

Here is a preview of the key themes emerging from the survey findings.

  • Evolving global factors: The changing global economy is impacting tax and finance departments in many ways.
  • Relationships with regulators: Technology, data and integrations are more entangled than ever. Insights from the survey uncover how tech is affecting regulatory relationships.
  • Centralising tax and finance: Companies are increasingly opting to centralise their tax compliance and statutory reporting capabilities. Our survey of decision makers shares who plans to centralise.
  • Innovation fit for the future: All organisations are on different journeys of digital transformation. Our survey asked executives to rate how innovative their companies are.
  • Proving the value of tax technology: What metrics do decision makers use to prove the value of their technology investments? Tax and finance professionals may find the results surprising.

Today is the right time to assess your department’s level of innovation. Learn how finance leaders and tax decision makers are leading the future of digital transformation. Access your copy of the report.

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