The race to automation: How data is transforming reporting and compliance paid PwCUS
ransformations in technology and sweeping regulatory reforms have created a more challenging landscape for finance teams. Whether tackling financial compliance requirements or managing a global tax function, many firms are struggling to keep up.
It’s against this backdrop that management teams are looking for sharper insights to inform decision making.Managed Services providers are able to continually invest in leading technologies because these finance and tax functions are the core strategic focus of these providers—not a support function.
Automated Managed Services can deliver turnkey processes for standardizing the capture, quality and security of essential financial data. Follow-on processes can then feed everything from statutory reporting to tax returns. Key tools along the way include AI and advanced analytics. These and related changes are making financial and tax reporting, planning and compliance exponentially more complex, according to PwC. Plus, this level of change is taking place in jurisdictions worldwide, which is adding enormous complexity for any multinational company.
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