6SEPTEMBER 2021Managing EditorSarah DawsonAaron Pierce Ann Bennis Antony MosesVisualizerSalesSarah DawsonManaging Editoreditor@cfotechoutlook.comRichard Watsonrichard@cfotechoutlook.comEditor's NoteEditorial StaffAva GarciaJoshua Parker Paul BarberJaxon JaseCopyright © 2021 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEmail:sales@cfotechoutlook.comeditor@cfotechoutlook.commarketing@cfotechoutlook.com SEPTEMBER - 02 - 2021, Vol - 07, Issue - 07 (ISSN 2644 - 2841)Published by ValleyMedia, Inc. To subscribe to CFO Tech OutlookVisit www.cfotechoutlook.com Taxation is a constantly evolving millennia-old system. From the pen and paper mode of bookkeeping, tax accounting has been moving gingerly into the digital domain through the ages. However, the last year saw some of the biggest changes in the tax arena, as governments worldwide were forced to reassess their tax laws and policies in the wake of economic changes brought over by the pandemic. This has made tax authorities struggle to stay updated on the rapidly changing tax rules and regulations. And going digital at full speed seems to be the way forward.Fortunately, the timing is perfect for digitalizing the entire tax journey. With AI, machine learning, robotics, and cloud technology progressively expanding their reach across industries, taxation has not been left untouched by these digital transformations. ERP systems and tax software vendors are increasingly incorporating AI-enabled tax-related functionality to automate workflows and reduce spreadsheet-based processes. They are launching bots to find, capture, and enter relevant data in tax forms from multiple databases, detect tax defaulters, and deploy intelligent analytics to handle businesses' tax accounting, compliance, and reporting procedures in real-time. Integrated software that comes with enterprise systems, middleware, tax applications, and management reporting dashboards are further easing the job of tax departments and consultants in managing both local and global direct and indirect taxes. The cherry on top is the added security of storing sensitive taxation data in robust cloud applications that can be easily accessed by authorized tax personnel from anywhere, thus facilitating remote working capabilities. Rest assured, we will be seeing these technologies continually get refined, promising to be more exciting in the days to come. And to make the most of these competent technologies, tax organizations and accountants need an appropriate pathfinder to help them select the right tax technology to aid their businesses. We hope this edition shows you the path to the right tax tech solution provider to stay ahead of the competition. Let us know your thoughts!On the Road to Digitalizing Taxation
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