Tax leaders’ insights on collaboration and Technology
She also dives into best practices for tax technology integration, how to stay current with the latest updates, and paints a picture of the future workforce. She also dives into best practices for tax technology integration, how to stay current with the latest updates, and paints a picture of the future workforce.
More from this interview series:
Part 1: A tax leader’s perspective on evolving corporate tax roles and technology integration
Davis:
Well, one of the key best practices is to start with a thorough needs assessment. You need to ensure that the new technology addresses the specific challenges facing your tax department. It’s important to align your new tools with the broader goals of your business. You don’t want to implement something that doesn’t fit into the bigger picture.
Involving cross-functional teams, like IT and finance, is a must. They can ensure that the new tech integrates seamlessly with your existing systems, and they can spot any compatibility issues. When they work with finance, they can ensure that the tech investment makes sense for the company in terms of financial and compliance requirements. It is also important to have regular training and communicate clearly. You want to make sure everyone feels comfortable with the new tools and understands why they’re important.Dedicated tax technology managers play a huge role in all of this. They are the link between the tax department, other units and the technology solutions. What resources are available for corporate tax professionals to stay up to date with the latest tax technology innovations and trends? Corporate tax professionals can stay up-to-date by participating in continuous learning. Attending industry conferences and webinars, for example, can be very helpful. These events are a great way to see what’s new and get insights from experts in the field.
Another useful approach is to subscribe to relevant publications. There are many magazines, newsletters and online resources devoted to tax technology. They can help you stay current on the latest trends and innovations.
Joining professional organizations, like the Tax Executives Institute, is also a big plus. These organizations provide networking opportunities and educational materials that can be extremely valuable. You can connect with other professionals and learn from their experiences.
Collaborating with technology partners and vendors is another important strategy. They usually have the latest technology and can tell you about new tools and solutions that might help your company.
Also, regular training sessions and workshops within your own organization can make a huge difference. These sessions can help you and the rest of your team to stay current and confident in using new technologies. Overall, it’s all about staying engaged and proactive in your learning.What are some risks companies face if they skip hiring a tax tech manager or other hybrid roles? How can companies minimize these risks?
Davis
Well one of the biggest risk is that the tax department may lack a clear technology strategy. Without someone dedicated to this role, you could end up with inefficiencies and miss out on opportunities to enhance compliance.
To lessen these risks, companies can select someone to guide the technology strategy within the tax department and create hybrid roles that combine tax and tech skills. This way, you have team members who understand both areas and can make sure your technology solutions make sense for the tax department’s needs.
Investing in tech training for tax professionals is also key. It builds the skills and confidence that are needed to use new technology. By taking these steps, companies can reduce potential challenges and make the most of new tax technologies. By taking these steps, companies can reduce potential challenges and make the most of new tax technologies.
With the increasing use of advanced technology in tax departments, how do you see the evolution of hybrid tax/tech roles impacting the future workforce?
Davis: In our 2025 Corporate Tax Department Technology Report, we found that over half of employers are already hiring hybrid tax/tech roles. This shows how important technology is becoming to the tax profession. I think that this trend will only accelerate, with new jobs being created to bridge the gap between tax functions of old and modern tech. Tax professionals will have to adapt quickly by acquiring technical skills along with their tax knowledge. This shift will likely make processes smoother, increase accuracy, and improve decision-making abilities within tax departments.
Keep your team informed on the latest tax technology trends
As corporate tax departments keep evolving with advanced technology, staying up-to-date and prepared is more important than ever. Our conversation with tax leader Tracy Davis brought home the importance that collaboration, best practices and hybrid roles play in shaping an efficient and strategic tax workforce. This report is full of valuable data, trends and strategies that will help you stay up-to-date on the latest changes in tax technology. With an impressive career spanning over 25 years, Davis has been at the forefront of assisting Fortune and Global 1000 companies in streamlining and optimizing their tax processes and operations, resolving key pain points, reducing risks and enabling businesses to scale effectively in response to evolving regulations and geo-expansions.
