Digitising corporate processes, particularly in the field of taxation, is a key challenge for tax professionals. At the same time, this digital revolution opens up numerous opportunities for shaping how future tax departments will operate.
At WTS, we help our clients to unlock this potential. Our Digital Partnering service makes us one of the leading providers of IT-based systems and processes, and solutions for managing comprehensive digitisation strategies in taxation. We have experienced tax and IT experts on our team who implement software solutions for taxation and ensure that the relevant IT processes for other corporate functions meet tax requirements. Our experts combine their in-depth knowledge of corporate tax with their expertise in process consulting and IT.
We also support our clients through tax business partnerships and help them to respond strategically to the challenges posed by digitisation. We have incorporated this expertise into the Digital Partnering service. Our service is flexible and can adapt to fit the needs of our clients – firstly, we offer continuous support to provide ongoing assistance for digitisation processes in taxation and to scale down the structure of internal resources in this field. We also provide assistance for projects and digitisation initiatives when required, with our ‘experts on demand’ supporting the relevant department in tax tool or group-wide projects, for example. This allows our clients to optimise their digitisation processes in terms of quality, flexibility and costs, as well as to benefit from our comprehensive expertise.
Our skills profile is well defined – we advise those working in taxation on how to develop a digitisation strategy while supporting its implementation in the long term. We digitise tax workflows using integrated tax tools and ensure compliance with tax requirements in relevant IT-based corporate processes, such as purchasing, accounting, shared services, logistics, controlling and reporting. We help to implement long-term processes and handle the management of IT-based taxation workflows by using tax tools and the tax governance of relevant corporate processes.
In addition to our own range of tax tools, we are focussing on strategic cooperation with the software partner AMANA Consulting – a leading supplier of software solutions in corporate taxation – as part of the Digital Partnering consultation service. Together with AMANA, we are developing digitised end-to-end processes for our clients and, in doing so, are helping to integrate them optimally into the process and IT landscape. We are proceeding strategically with these developments so that the tool-based processes can continue to evolve and improve. We also help our clients to make the most of the tax tools (also as a software-as-a-service model) and to develop best practice approaches for using and integrating these tools.
Thanks to the AMANA tax portal and its link to WTS’s own tools, we are able to offer one-stop integrated solutions for digitised tax processes.
Examples of this are:
- End-to-end corporate tax processes, from tax calculations in the annual accounts to tax returns and tax audits
- Integrated global tax reporting with highly automated interfaces within the local tax tools and accounting systems, as well as integration into company-wide reporting systems
- VAT declaration process, from data extraction in SAP to data validation and submitting tax returns
- Safeguarding the internal tax control system, management of tax workflows and central querying of global tax information using web-based workflows and questionnaires
Implementation and further development of ERP solutions
Our range of services also includes the implementation and continued development of tax requirements and opportunities for optimisation in company-wide ERP solutions, e.g. SAP New GL, S4HANA and customised solutions for Procurement and Sales & Distribution, or technologies for internal and external reporting, such as SAP SEM BCS, SAP BPC, TAGETIK or BW solutions. The aim is to provide the necessary data for digitised tax processes in the form, time and quality required. Only then is it possible to monitor the tax processes automatically and process them further, as well as guaranteeing that tax data is prepared efficiently in the accounting and reporting processes and is supplied to external stakeholders.
We have extensive expertise in the relevant IT-based corporate processes and we are specialists in specific tax issues and controls for these processes. These include automatic VAT calculation in accounts payable and accounts receivable, corporate tax information requirements in accounting, requirements for master tax data, or tax accounting and reporting in accordance with IFRS.