In our experience, digital transformation should begin with training in technology fundamentals. Don't underestimate the change management effort when rolling out digital solutions; you can only achieve acceptance and success if all employees are brought on board. However, digital transformation is not possible without direct access to tax and legal data. The added value comes from the intelligent linking of such data. Even data lakes only make sense if the master data has been cleansed beforehand– one of the biggest current problems. You have to deal with the quality and availability of your data early enough.
Ultimately, it is a matter of standardisation, optimisation and automation of all processes that affect tax and legal aspects. This means you should always first "look over the shoulder" of those involved in the process in order to fully understand and document the current process. A premature decision for certain tools often does not solve the actual problems– which becomes apparent in the course of operation.
Once the actual problem has been identified, we will be happy to help you intelligently combine the right technologies and methods.
Partner, Co-Lead Tax & Legal Transformation, PwC Germany
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You can read the findings of our comprehensive study here.