The last holdout: Tax embraces the cloud Bookmark has been added
The last holdout: Tax embraces the cloud
Part of the For Cloud Professionals podcast series
The tax function has historically been reluctant to fully embrace the cloud. However, regulatory demands, coupled with the need to gain more information security and deeper insight into performance, is pushing them to adopt the cloud. The payoff for companies that make the leap can be huge.
Tax is jumping to the cloud to enable more security and deeper insights
Applications that serve the corporate tax function sit outside the IT portfolio at many companies, and that outsider status often impedes migration of those applications to the cloud. However, recent trends are driving the tax organization at many companies to embrace the cloud. In this episode, David Linthicum and guests, Deloitte’s Stephen Metoyer and David Landers discuss why—despite historical resistance—the corporate tax function is jumping on the cloud bandwagon. In part, it’s because data volumes are increasing due to tax authority demands for data and cloud-based ERP adoption. However, the biggest driver of cloud adoption for the tax function is that companies now realize the enormous cloud value proposition: the security they crave, coupled with the computing power they need to gain critical insights to help improve tax management performance.
That's the beauty of cloud. We can spin up easily, we can manage the volumes of what we need to do, and then we can spin it down. And, so, tax can really start to get into true data management on the tax side for a much lower cost and effort than it used to take.
Stephen Metoyer is a Principal with Deloitte Tax LLP. He has over 25 years of experience in automating tax systems and processes. He leads the Enterprise Tax Integration component of the Tax Management Consulting practice in the United States.
David Landers is a Principal in Deloitte Tax LLP's Tax Management Consulting practice and the leader of the Tax Data Management and Analytics offering. He has more than 20 years of experience working with large and mid-sized global companies.
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