TTPP97: How In-House Tax Teams Can Start Hugely Benefitting From Tax Technology with Stevi Frooninckx of Loctax

Show notes: thetaxprofessionalspodcast.com/TTPP97

Masterclasses for Tax Professionals (Tax Research and Tax Advice): https://www.thetaxprofessionalspodcast.com/masterclasses/ 

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You’ll Learn

• Overview of Stevi and his career
• (16:30) The pressures on in-house tax teams & how technology can help
• (30:30) Can you have one piece of tax tech that deals with all taxes and does everything?
• (34:15) Why is using OneDrive/Sharepoint and Excel alone not good enough in today’s world for in-house tax functions?
• (42:30) Where should in-house tax teams start when improving their use of tax
• (47:15) How to identify the right tax-tech software you need once you’ve identified the problem/areas of improvement
• (50:30) How external advisors can support in-house tax teams to use tax tech to improve the team?
• (55:00) Should small businesses invest in tax tech or is it limited to large multinationals currently?

Resources

Other tax tech episodes:

• TTPP81: Tax Technology Director Shares What It’s Like to Work in Tax Tech with Alexander Kobakhidze [Tax Role Insights, Episode 3]
• TTPP90: Improve Your Tax Research and Save Hours of Time with AI with Nick Stobbs from Tax on Demand 

Chapters

• 0:00 Stevi
• 11:34 How LocTax was born
• 16:47 The pressures on in-house tax teams and what Stevi means by tax controversies
• 21:54 How technology can help with the pressures and challenges
• 30:42 Can you have one piece of tax tech that deals with all taxes? Distinction between tax engines and the administration/management
• 34:26 Why are using OneDrive/Sharepoint and Excel not good enough in today's world for in-house tax functions?
• 39:11 What Stevi means by improving collaboration and the structuring of data
• 42:41 Where in-house tax functions should start with tax tech
• 45:22 What the easiest thing for heads of tax and CFOs to do to start improving their use of tech with tax
• 47:35 How to go from 'identified the problem' to 'identifying the tax tech that solves the problem'
• 50:40 How external tax advisors without their own tax tech can help in-house tax teams improve their tax tech
• 55:05 Is investing time tax tech worthwhile for in-house tax functions of business that AREN'T large multinationals?