Tax & Legal Innovation Week
The digital era is transforming the tax and legal professions and the pace of change is accelerating. We are ready for the fourth industrial revolution. Are you?
In April 2018, the Deloitte and Laga Tax & Legal Innovation week was held at Gateway in Zaventem. Finance, HR, tax, and legal professionals, as well as Deloitte and Laga alumni, attended sessions specifically tailored to match their interests. Eminent speakers, explaining the newest technologies combined with interactive deep-dive sessions, fueled a debate that provided insights into how peers are dealing with technological changes. Interactive screens with live demos and visual materials gave attendees the opportunity to discover various technology features hands-on.
Aftermovie Tax & Legal Innovation Week
Experience the Future of Law, today
After a plenary session by Daniel Susskind on the future of the professions, Marc Van tieghem, Danny Stas, Vincent Schoeters and Maxime Bernaert introduced the concept of Legal Management Consulting. It was apparent that many of the attendees struggle with deciding what to invest in first when it comes to technology. The metaphor used of renovating a house, where it is of little use to invest in a brand new kitchen if the plumbing does not work, resonated strongly with the attendees. During breakout sessions, participants learned all about how blockchain might help their businesses and what the legal implications are. They had a lively discussion on the automation of legal processes, including finding legal precedents, document information extraction, and the use of chatbots. The latter was also highlighted on one of the interactive screens in the form of a brand new employment law chatbot.
Digital acceleration in Finance
The CFOs and finance professionals who joined us were first inspired by some key trends and evolutions. Conrad Young, Chief Digital Officer of Deloitte Tax & Legal Global, explained the five technological forces that will shape the tax and legal future. Andrew Pease, who co-leads the Belgian analytics practice, gave an idea of how Artificial Intelligence is shaping tax, finance and the world. Dirk De Smedt, Director General of Bruxelles fiscalité, spoke about how tax agencies can practically translate all of these technological changes into a digital strategy. Like most corporate strategies, it remains essential to focus on the initiatives that drive value. While many companies are struggling with legacy solutions and business silos, evolving towards modularity and digital platforms will be essential to ensure better experiences for both customers and employees. The gap between the endless technological possibilities and the practical implications was further explored during interactive discussions on ‘tax operating models and the move to digital’ and ‘tax data analytics’.
Digital acceleration in Tax
During this afternoon, attendees discovered how digital acceleration is shaping the tax landscape. The session started with an overview of the five technology trends that will shape the tax and legal future, followed by a view on a practical application of blockchain for TP documentation and how Deloitte has been approaching open innovation together with Silverfin. It was great to see that some of the tax directors in attendance brought their in-house technologists to ensure that what they learned could immediately be translated into practice for their organisations.
The future of the talent profession
HR professionals had the option to attend two out of five interactive sessions focusing on the newly released Human Capital trends, managing a contingent workforce, driving HR efficiency, the road to flexible benefits, and ensuring a better employee experience to create the workplace of the future. The community of HR professionals eagerly explored various technological features, such as My Benefits My Choice, the Deloitte flexible benefits solution, and Global Advantage Incentives (GAIN).
At Deloitte and Laga, we believe in colleagues for life, a concept that was demonstrated during our alumni event. More than 150 former colleagues were inspired by thought-provoking plenary speakers, reconnected and enjoyed great food, drinks and merry conversations during this splendid evening. The feedback was very enthusiastic, ranging from ‘it felt like I was home again’ to ‘it’s unbelievable how much Tax & Legal has transformed these past years’
All of the technological features on display can be consulted in the documentation on the right hand side.