Have you left your procurement tax function in the dark?
At first glance, the idea of combining both Procurement and Tax Migration looks daunting. The very thought of undertaking a multifunction technology migration appears fraught with complexities and the potential to deliver lukewarm and ineffective outcomes at best. However, viewing Indirect Tax transformation as a post-migration afterthought undervalues the part it plays – experience shows that it needs to be considered an integral component that seamlessly runs alongside your procurement evolution. Failure to do so means you run the risk of missing out on a range of business benefits.
Combining both Procurement and Tax Migration allows organizations to optimize their business models and benefit from effective cross-function collaboration, leading to greater operational efficiencies and financial rewards.
The benefits when technology is applied effectively are far-reaching.
Embrace the automation evolution
At a surface level, automating tax and source-to-pay processes addresses the inefficiency of traditional tax calculating and reporting that are integral to the requisition of purchase orders, as well as removing manual invoice entry processes.
But, dig deeper, and fully integrated processes deliver even more significant enterprise-wide benefits:
- Accounts Payable, Procurement and Finance can provide more accurate budgets, forecasting and bottom-line cash flow reporting quicker.
- Supply Chain can take advantage of greater visibility across supply chains to develop more efficient workflows and tax approval processes
- Tax can have confidence in the correct calculation of taxes at source and benefit from a reduction in overpayments and audit expenditure
So why KPMG? Delivering leading practice business processes to benefit the entire enterprise.
Our business-first approach helps you get the most out of your technology investment. Right from the start of our engagement, we help define and establish critical metrics for your transformation success.
We bring extensive functional transformation experience, deep insights, leading AI, tax, and technical capabilities to unleash new levels of strategic value.
Fueled by the KPMG Powered Enterprise, our solution is customized to your unique business and technical needs. It unlocks the opportunity to revolutionize how your business and functions operate.
Our experienced tax practitioners dig deep to understand the complexities and nuances of your business. Then, they fine-tune leading practice tax and AP processes within your source-to-pay platform to help you meet your technology ambitions. And our automated processes, accelerators, and proprietary methodologies ensure we streamline disconnected processes and create cross-functional efficiencies resulting in operational cost savings and a significant return on investment.
This means that we not only automate and calculate your taxes accurately but give you the right set of tools so you can better manage your suppliers, inventory, and payments.