7 signs to modernise your tax processes with global tax compliance solutions

Are your tax processes working for you or against you? If you're drowning in manual data entry, battling Business Tax Compliance headaches, or struggling to keep up with new tax laws, it's time to rethink your approach. Modernizing your tax processes isn't just an upgrade in tech, when done properly, it can also give you an advantage over your competition. In this article we’re sharing 7 clear signs you might benefit from tax compliance solutions. Do any of them sound too familiar? Then we're here to help with a native tax automation platform.

1. Still using spreadsheets for VAT /  tax compliance?

It's not just about the spreadsheets themselves, it's about the challenging process of getting the data into them. Think about it - you're likely scrambling to gather information from a variety of emails, chasing down details in phone calls, and manually inputting data from various sources. Not only is this process incredibly time-consuming, but even more it’s prone to errors. While spreadsheets might feel familiar, they're ultimately a fragile foundation for managing crucial tax information. They're easily corrupted, riddled with version control issues, and lack the robust audit trails necessary for tax compliance.

Modern tax departments are recognizing these limitations and are moving toward dedicated Tax Compliance Software. These solutions offer greater accuracy, stronger internal controls, and seamless automation, eliminating data gathering and entry. By switching to a dedicated tax software or tax compliance software you eliminate manual data-gathering headaches.

Keeyns ensures your data flows seamlessly, cutting down on costly mistakes and giving you peace of mind.

2. Is manual data entry draining the resources of your tax team? 

Tedious, error-prone data entry can be a drain on productivity and tax risk management. Modern tax platform services automate routine tasks—like data cleaning and manipulation—freeing up your team to focus on strategic analysis, planning, and growth. With automated tax software, you can minimize repetitive tasks and redirect valuable hours to high-level decision-making. If reducing manual data entry is your priority, read the benefits of having a centralised data solutions to centralize and create oversight in your processes.

At Keeyns, our automated tax solution reclaims your time and reallocates it toward expanding your business.

3. Dreading audit season?

Is audit season a source of anxiety? It doesn't have to be. The dread often stems from needing to provide a complete and auditable history of your entire tax process, not just the final figures. Auditors need to understand the story behind the numbers – who made key decisions, when, based on what information, and why.  Manually reconstructing this narrative from emails, documents, and scattered conversations is a stressful, time-consuming ordeal.  A modern tax compliance technology provides a centralized audit trail, detailing every change, approval, and supporting document.

Imagine a system that not only stores your documents but also logs every data change, every approval, and every related communication, all in one place. This streamlines audits, demonstrating your commitment to accuracy and compliance, transforming them from stressful events into routine confirmations of your diligence. 

With Keeyns, specializing in enterprise tax software, your data is captured and secured in one place, transforming audits from dreaded deadlines into smooth, predictable checkpoints.. 

4. Lacking visibility into your tax position?

If you’re unable to answer the question, "What's our tax liability right now?" then this is a clear sign that you need better insights. Real-time dashboards in global tax software provide the clarity and visibility necessary for informed, strategic decision-making.

Real-time reporting in global tax software provides immediate access to your financial data, including your current tax liability. Eliminate the guesswork and make informed decisions based on accurate, up-to-the-minute information. With real-time insights, tax compliance risk management becomes straightfoward with accurate reporting at your fingertips

Keeyns gives you a clear view of your tax position at any moment, empowering you to make confident, data-driven decisions, fast.

5. Are disconnected systems causing friction with tax compliance?

Are disconnected systems causing friction when working with multiple tax advisors and global teams? Juggling disparate systems, local spreadsheets, and conflicting data across different countries is a recipe for errors and inefficiency. They will result in fragmented data, making it difficult to have a single source of truth.  This fragmented approach leads to duplicate efforts, inaccurate reporting, and hinders collaboration, especially when dealing with complex international tax regulations. In these cases, compliance is managed across multiple jurisdictions, each with unique tax laws and reporting requirements.

A modern, unified tax platform eliminates these challenges by creating a single source of truth for all your tax data. Keeyns provides this unified platform, streamlining workflows and ensuring a smooth, efficient flow of information across your entire operation, regardless of location or the number of advisors involved.

Keeyns connects your teams, provides global visibility, and empowers you to manage tax effectively. 

6. Keeping up with tax law changes a struggle?

Struggling to keep up with the ever-shifting landscape of tax law changes? It's a constant battle to stay informed and ensure compliance, especially with regulations varying across jurisdictions. Staying on top of new rules for business tax compliance can be daunting. Relying on manual research and updates is not only time-consuming but also increases the risk of costly errors and penalties. You need a system that proactively adapts to regulatory changes, not one that leaves you playing catch-up.

Fortunately, modern tax technology provides the solution. Imagine having a system that automatically incorporates the latest tax law updates, ensuring your calculations are always accurate and compliant. That's what you get with a dedicated tax platform. Modern tax software eases this complex process, acting as your vigilant compliance partner. We keep you ahead of the curve by integrating the most recent regulations directly into the platform, minimizing your risk and maximizing efficiency.

With Keeyns, you update your corporate tax software, you stay compliant without the frustration of manual research, guaranteeing peace of mind through proactive tax compliance updates.

7. Are your tax processes scalable?

As your business grows, your tax risk management become more complex. Without scalable Tax Solutions Software, you risk errors, missed deadlines, and added expenses. If scaling effectively is your priority, read how Tax Compliance Software helps you scale and future-proof your Tax Management. By leveraging an enterprise-level solution like Keeyns, built on tax software frameworks, your tax processes can effortlessly expand alongside your operations.

Keeyns is built to support your growth ambitions, whether you're scaling up your existing operations or expanding into new markets.

Why Keeyns?

Stop letting outdated tax processes hinder your growth. Keeyns offers a single, seamless Tax Platform to manage all your tax needs, from VAT compliance to tax compliance risk managment frameworks, backed by advanced compliance risk management framework Our solution provides automation, simplifying workflows and freeing your team from tedious tasks. Gain control with tailored insights from real-time dashboards and rest assured knowing Keeyns scales with your business. Contact us today to book a demo and unlock the future of tax management. Not sure whether your tax processes are truly up to date? Take the tax health check to find out if it’s time for a modern solution.

• Tax managers’ top compliance concerns. (2024, 1 August). Vertex, Inc. https://vertexinc.com/resources/resource-library/tax-managers-top-compliance-concerns

• how Generative AI might help tax functions tackle challenges. (2023, 10 November). EY https://www.ey.com/en_gl/insights/tax/how-generative-ai-might-help-tax-functions-tackle-challenges