Ernst & Young revamps tax technology teams
EY has combined its Tax Performance Advisory and Tax Technology and Data Analytics Services teams to create a Tax Technology and Transformation group across the globe.
The dedicated group of more than 1,000 tax technology and performance improvement professionals will work at EY member firms around the world helping businesses revamp their tax functions by leveraging technology. The Americas practice will rely on professionals in the U.S, Canada, Brazil and Mexico.
The goal is to help businesses adjust to new trends in tax compliance and tax audit methods. EY’s Tax Technology and Transformation services will be provided with the support of EYTax.Tech, a customized set of client-serving technology services.
The Tax Technology and Transformation group will offer digital tax transformation services, tax applications-as-a-service, tax data and improvement services, tax analytics and reporting enhancement services, tax technology program mobilization services, custom tax technology application development and deployment, tax technology strategy and road mapping, tax systems implementation and configuration, and post-M&A transaction tax function operational services. Emerging tax technology services including robotic process automation, artificial intelligence, blockchain, cloud solutions, data lake development and business intelligence innovation. The group will also deal with tax operating model transformation, including process improvement, risk and controls
The newly appointed EY Global Tax Technology and Transformation leader, Shawn Smith, will be based in New York. He was previously EY Americas Tax Performance Advisory Leader – Financial Services Office and the Southeast Region Market Segment Leader – FSO. “The pace of change in tax legislation, and the accelerated use of technology by governments as they automate their compliance and filing processes, is disrupting the traditional tax function,” he said in a statement. “Increasingly, businesses are looking to professional services organizations to help them overcome technology-driven business challenges, and with Tax Technology and Transformation, EY will lead by example.”
Kurt Neidhardt, EY Americas Tax Tech Transformation Leader, will be in charge of services in the Americas. “This expansion of our successful delivery of technology, process and data services to transform the tax function demonstrates our commitment to offering exceptional and innovative services to meet client needs,” Neidhardt said in a statement. “Our tax professionals with deep experience are combining forces to focus on helping businesses redefine their tax functions by offering a new digital experience to our clients.”
“Tax Technology and Transformation recognizes the significant impact that emerging technologies such as AI, blockchain, RPA and advanced robotics will have on global business,” said EY Americas vice chair of tax services Kate Barton in a statement. “Tax departments are dealing with the convergence of three megatrends—global tax legislation changes including the possibility of US tax reform; the rise of digital and pace of technology change including robotics process automation and the like; and finally the trend to look at whether you automate in-house or outsource the day-to-day operations to take advantage of the new technologies and leverage costs.”