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Data management issues affecting the tax industry, study finds

Rachel Wheeler Archive
A new survey has found that professionals working in the tax industry believe that data management is an important tool for improving the tax process.

According to the study, which was conducted by corporate tax software developer Vertex, 92 per cent of respondents agreed that reducing the time spent collecting the financial data required for the tax processes should be a primary goal.

In addition to this, 76 per cent said that seeing improvements to the quality and integrity of data should also be considered an important task.

"These individuals face not only increased time spent gathering the financial data required for tax processes, but also barriers like data quality and complexity and communication issues with the finance department," said Vertex tax data management director David Deputy.

"Based on the results of this survey, it's clear that these data management issues are having a direct effect on these professionals' quality of life."

Posted by Richard Jones