The power of partner ecosystems in today's tax landscape

"Tax has never been straightforward, and effective tax management is certainly not an easy task. But recent years have seen tax professionals face additional mounting pressures, including complex regulations, such as the OECD's Pillar Two mandate. This has meant tax teams are expected to do more, at a faster pace, and on a global scale. However, the pressure to deliver results faster need not lead to panic. Tax departments don't have to sacrifice growth in order to meet regulatory requirements."

"Partnerships pay dividends to the growth and success of an organization. Rather than stretching internal teams beyond their limits or attempting to build expertise in every discipline, they allow companies to align with specialists who bring added knowledge and insight. The right partners can fill the capability gaps that would otherwise stall progress. Crucially, they do so without bloating headcount or sacrificing quality."

"Traditionally, these partnerships have been built around outsourcing, where companies rely heavily on a chosen partner and their technology, often with little oversight into progress. This worked well whilst technology did not allow for a more collaborative approach, but it was inflexible and finite. If the relationship ended, corporates lost access to the progress that had been made, as it was typically hosted on the partners' servers and technology."

Tax professionals face mounting pressures from complex regulations such as the OECD's Pillar Two mandate, requiring tax teams to do more at faster pace and on a global scale. Tax departments can scale and remain compliant without sacrificing growth by adopting flexible partner relationships. Partner ecosystems allow companies to align with specialist firms to fill capability gaps, delivering knowledge and insight without increasing headcount or reducing quality. Traditional outsourcing models are inflexible and can lock corporates into a single vendor's servers and technology, causing loss of access when relationships end. Partner ecosystems offer wider networks and selection flexibility.

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