Understanding the factors that help a leader in the tax area achieve success is essential to overcome the challenges of the profession, even more so after the latest tax reform.
here are many challenges facing tax executives. Among them, the latest tax reform, high domestic demand and technological changes that constantly arise.
In order to overcome them, it is necessary for the leaders of the sector to carry out a precise management that allows them, among other things, to comply with the tax obligations of the company. Thus, we can consider 5 essential factors for a leader in the tax area to achieve success.
1. Time management
The responsibilities of the tax sector are so many that it is necessary to have an excellent organization and rely on technology to be able to more effectively manage the growing workloads.
Time optimization is possible when the potential of technology is harnessed. By automating part of the routine, it is possible to better utilize the professional skills and technical knowledge of the tax executive, boosting their productivity.
This process, like any transformation, requires dedication. However, the time used to implement new software and carry out the relevant training will be quickly recovered with the help of these resources. In fact, in a short term, the return of the invested time will be recovered.
2. Talent management
On many occasions, leaders of the tax sector find it difficult to select their work team, since a large part of the professionals lacks all the skills required to carry out a complete task.
Some of the department's professionals do not keep up with tax reforms, while others lack the technological skills necessary to adapt to new resources.
Well-rounded professionals are needed, however, good management can provide professional development strategies that enable staff to acquire the skill sets they require to perform a more competent job.
Employees who have the necessary tax knowledge associated with the required technological and analytical skills form a more effective work team.
From this perspective, we have been able to observe that it is easier for professionals in the tax area to develop technological skills, rather than for technology professionals to acquire tax knowledge. It only takes the right guidance to train employees to develop a better function.
3. Integration with other company leaders
Many times the executive of the tax area is not integrated to the other sectors due to the characteristics of the work. However, it is important that the tax executive be part of the overall leadership of the company. In this way, they will be better informed to strategically advise on the different changes that may arise within the company, such as mergers, expansions, acquisitions, etc.
Another positive aspect that this integration can provide occurs when implementing the new tax technology. Given that, on many occasions, this sector is one of the last to include digital transformation.
Getting the company to understand the benefits of this active participation is essential to continue with its integration.
4. IT support
Undoubtedly, the tax area of a company has technological needs with peculiar characteristics, since it requires solutions specific to the sector. IT support is one of the essential requirements to put any automation project into practice because in the face of any unforeseen event, only they can help.
The tax executive must be aware of this need and explicitly request the help of IT support, who must be able to understand the needs of the company's tax department.
Any technological implementation requires training, in which IT support must be present, in this way, they can better understand the needs and difficulties of the tax area.
5. Change management
Change management makes it possible to efficiently and effectively facilitate and implement the transformation processes, so frequent in the tax area. Tax reforms require changes in the processes and these must be carried out quickly. The tax executive must carry out these processes competently, but for this, it is essential that it is thoroughly familiar with the latest tax reform.
Having time, competent human capital, integration with the other departments of the company, IT support and mastery of change management, as well as technical knowledge of the area are fundamental factors for the success of the leader of the tax area of a company. .
Information is one of the paths for development, for this reason, we invite you to continue reading our blog with essential information to obtain a better performance in the area.
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