ERP and Tax

Get the most out of your ERP system from a tax perspective

Tax is operating in an increasingly dynamic and complex environment, both internally and externally (for example due to expanding external reporting requirements, legal and regulatory changes, increase in tax audits, investor and cost pressure). PwC can help you to anticipate the changing business context by making full use of ERP and bolt-on systems. Curious to learn what PwC can do for your organisation? Please contact us!

ERP-transformation as a solution

Many companies are considering or already working on an ERP transformation. Do you also have to deal with the developments below? If so, a carefully designed ERP system can offer a solution.

Pressure to reduce costs and maybe even headcount.
Less time for fiscal analysis.
Coping with inorganic business expansion (M&A activity).
Organisation structure changes (for example by implementation of Global Business Services, Centers of Excellence or Shared Service Centers.
Introduction of new technologies.
Increased number of internal stakeholders.
Real Time Reporting requirements.
Increased transparency requirements from stakeholders.
Difficulties collecting data from the system in order to respond to questions from the tax authorities/tax audits.
Increased focus on Corporate Reputation.
Pressure on lead-times at period end closing.

Optimal support for tax processes

A new ERP system or modification of an existing system offers a unique opportunity to ensure that it optimally supports tax processes. An ERP implementation or upgrade and the integration with other systems can be complex due to dependencies between business processes and functions, e.g. Finance and IT. During an ERP transformation, the strategic goals of the tax function must be safeguarded. Therefore, it is crucial that the tax department is part of the project team of your ERP transformation.

Efficiency

Pulling usable data out of your systems
Prepare first time right deliverables to avoid costly re-work
Reducing audit complexity

Quality

Moving beyond slow, manual processes that introduce human error
Generating accurate deliverables for tax authorities, regulators, and stakeholders

Compliance

Improve ERP and master data set-up as a result of which any new rules and requirements can be easily captured and dealt with
Leveraging automation capabilities within ERP

Insight

Gaining real-time understanding of current positions
Leveraging forward-looking analytics and projections
Being more responsive to the needs of the business

How can we help?

PwC provides clients with expert support at all stages, from strategy to execution. Our proven phased approach will provide you with the optimal solution for your specific challenges and objectives.