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Why Excel is Not Enough for Direct Tax and Accounting Compliance

Global Tax  Technology Challenges

If you’re part of a multinational tax and accounting department that is still relying on Microsoft Excel-based processes, the risk to your organisation is growing every day. From increased globalisation to ever-evolving tax regulations to an amplified focus on transparency, corporate tax and accounting departments are facing challenges that demand a comprehensive software solution to standardise processes, streamline data and increase collaboration.

Given the current state of the global tax environment, keeping pace with technology is no longer an option, it is a requirement. It’s the art of staying compliant that will be especially testing for organisations as tax and accounting becomes more and more of a public issue. Departments are facing a huge rise in complexity as transactions increase in volume, become more international and face mounting regulations. Further, companies that buy and sell across multiple countries face a substantial challenge to keep up to date with constantly changing legislation.

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