WHAT IS DIGITAL TRANSFORMATION?
Popularity around this term has grown exponentially over the past years with a common dominator of companies seeking it. However, the term "digital transformation" can be interpreted in many ways.
Some companies relate the concept of using the robotics process automation, artificial intelligence, and yet others relate it to using the cloud to store information, having a new website or simple remote working with Zoom, Microsoft teams, etc. Hence, how does e-bright approach this term?
At e-bright we seek to provide all the elements needed to drive digital transformation. We start with people, training them to become digitally savvy and prepare them to leverage up to date technology.
We offer top-class technology platforms for tax professional process workflows and train people to close the digital gap.
Our main objective is to make your tax function become more:
We work with In-house Tax departments of corporations and companies related to accounting and legal advisory.
INCREASE CONNECTIVITY IN THE ORGANIZATION
We believe that a digital transformation only helps the organisation if the tools it embraces are connected to each other, otherwise you’re still putting data in a system or excel sheet manually. The real advantage comes in when systems “talk” to each other.
The key is to build a legohouse that connects the lego blocks seamlessly together, so it is 1 strong house and every room has an open door. The higher the connectivity, the least amount of manual work that needs to be done. If you want to heat the house, you can do that from anywhere in the house in 1 go instead of having to do it in every room separately (preventing double versioning).
Example of apps talking to each other: VAT return prep. Software (i.e. R7VAT) triggering the “completed” status in the Compliance Tracker, notifying the Head of Tax to do a QC. This reduces the emailing and calling back and forth between Head of Tax and Compliance Officers.
INCREASES EFFICIENCY IN THE ORGANIZATION
When talking about “connected” we mean that data from one application can be used to feed another application. A “connection” allows that feeding. The more applications in the house, the more data is being produced, the more efficiency. So, the bigger the house, the least amount of manual work and errors (but only when connected right!).
The Compliance Tracker on itself is already creating a more efficient Tax compliance handling, because all the compliance workflows are coordinated from a central point, saving 30 minutes per day per FTE on emailing alone.
Every floor you want to build on top of your house will only increase the efficiency in the whole house because the rest of the rooms can take advantage of the data that another room produces due to the open house (full connectivity) structure.
Create data efficiency because there is only 1 data source instead of multiple, and all endpoints are synchronized.
less unnecessary emailing and calling. Instead of sending thousands of inconclusive emails to track the status of delivery, the compliance tracker allows you to find with the latest document status in just one click.
INCREASE SCALABILITY IN THE ORGANIZATION
The compliance tracker grows with the organisation in terms of functionality and cost, just like the rest of the tools that we connect too. Independent on the size of your tax compliance obligations, the tracker works for 50 documents, but it just as easily works for 5000 documents.
The bigger the connected structure, the more efficient it runs:
House: The Compliance Tracker keeps track of all preparation work until it can be sent out to the tax authority.
Villa: API connecting an application that sends automatically to the Tax Advisor and saves the confirmation in a designated folder on your Sharepoint.
Castle: Connecting an App that automatically releases the payment of the return in time (not too late, not too early either)
So, whether you live in a castle or in a house, as long as all the lego blocks are built in a way that they seemingly fit on top of each other, your house grows with you, while reducing the cost per inhabitant.
Every block you add creates more room for your team to breath and do analysis work for examples, to provide useful insights for the business side.
AT WHAT COST?
The real cost advantage has a long-term view when the lego house of connected blocks is getting bigger and bigger, but the Compliance Tracker on itself already has a closing business case. Besides fines being history, the efficiency win is already worth the investment.
How much time is saved every year per Compliance officer because of increased efficiency? 30 minutes of emailing saved per day because we now use the compliance tracker.
A coffee company with presence in 20 European countries.
A shared service centre with 10 compliance officers is taking care of all the European Tax compliance work.