Russell Gammon, chief product officer at Arkk Solutions, reveals his vision of the future of the tax world. The Making Tax Digital initiative has made it necessary for firms to implement digital record keeping and filing processes. However, Mr Gammon writes, the use of technology to keep records and file them has far greater benefits than compliance alone. Automation can speed up processes, taking over time-consuming copy and paste tasks and ensuring greater accuracy. Additionally, artificial intelligence has made it possible to solve specific calculations at speed, and is likely to transform other areas, including audit, which will no longer depend on sampling alone, while tax teams will be able to focus on making savings through relief claims and better forecasting.
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.
June 5, 2019
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June 5, 2019