Data Management in a context
In the recent years, tax and legal functions have come to rely heavily on data, and it is increasingly critical that tax and legal teams can count on its accuracy, completeness, and availability. Processes like these are under rising pressure as authorities demand more data, in greater detail, with higher accuracy and ever closer to real time. Designing and implementing such a solution requires the right mix of technology and organizational change management. For many companies, the best approach is to start small while keeping the big picture in mind, using a step-by-step approach as a proof of concept and to add value along the way toward fully automated tax data management solutions.
Getting data right the first time, companies can eliminate much of the searching, correcting and converting of data that can now consume up to 70 percent of compliance time. This can free tax and legal teams to make more strategic use of their company’s tax and legal data, deriving insights that can help improve business decisions and elevating the tax or legal team’s position as a valued partner to the rest of the business.
In the end, it is all about using the right technology to tie the tax world together!
At KPMG Acor Tax, we have already invested heavily in developing the Data Management area:
- We were the creators of the first fully paperless personal tax preparation software in existence in Denmark, which completely transformed the way we prepare personal tax returns.
- We offer top-of-class data analysis tools that enable us to perform a wide variety of fact-based analysis on VAT, transfer pricing and customs and many other areas.
- We adopted Artificial Intelligence and Machine Learning in order to automate and streamline the process for efficiency gains and to better at detecting data trends and patterns. Visit AVA - our Advanced VAT Analysis tool.
- We have embraced the RPA technology, with robots making up 4% of all our employees.
KPMG Acor Tax has developed technologies and tried and tested process methodologies that can help you solve your specific challenges and needs, wherever it may be in the data lifecycle.
Click on each process step to learn about KPMG Acor Tax’ approach to data management:
Here is an example of one of KPMG Acor Tax’ technology solutions and process methodologies in action to help you manage your data challenges.
About: Does managing 100,000 invoices per hour with a 97% accuracy sound appealing to you? Meet KPMG AVA - our Advanced VAT Analysis tool.
Why choose us?
We utilize to the fullest all global tools and initiatives, challenge the existing norm and bridge existing global tools with own initiatives. We use the global network, and we always bring the best and the brightest KPMG talent to the table. By combining our solid experience in tax with our knowledge in different tech areas, such as data analytics and software robots, we can support you in the adoption of new technologies tailored to your business and specific needs, therefore facilitating your digital transformation journey.
We have a team of data management experts who are highly competent and have strong skills within different tech areas, such as data analytics, process automation, machine learning and artificial intelligence. They focus solely on proactively implementing technologies that challenges the norm and enables the future, today!
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