EY Launches Tax Technology and Transformation

New York-based EY (FY16 gross revenue of $11.2 billion) announces the creation of tax technology and transformation, a group of tax technology and performance improvement professionals in member firms across the globe that helps organizations to redefine their tax functions and drive transformation.

Tax technology and transformation services will be provided to companies in response to the impact of existing and emerging technology; the growing data burden that many businesses face and understanding how to make data an asset; and driving efficiencies to create a cost-effective tax function. The underlying objective of the new services is to help businesses navigate the digital age of tax transparency alongside new trends in tax compliance and tax audit methods as well as helping to solve the most pressing challenges that businesses face. Tax technology and transformation services will be provided with the support of EYTax.Tech™, a customized suite of client-serving technology services.

Tax technology and transformation will be led by Shawn Smith, the newly appointed EY global tax technology and transformation leader. He has experience in a wide range of tax function services designed to improve the operating performance of corporate tax functions for financial services.

“The pace of change in tax legislation, and the accelerated use of technology by governments as they automate their compliance and filing processes, is disrupting the traditional tax function. The creation of tax technology and transformation recognizes the significant impact that emerging technologies such as AI, blockchain, robotic process automation and advanced robotics will have on global business, as well as on our own tax practice. Increasingly, businesses are looking to professional services organizations to help them overcome technology-driven business challenges,” says Smith.

“In this rapidly changing world, tax services increasingly require significant technology and transformation elements to achieve their objectives. Our investment in tax technology and transformation professionals will see rapid growth in careers for science, technology, engineering and mathematics graduates, who combine technology and tax domain knowledge to experiment and incubate new ideas, then leverage those ideas for the benefit of our clients and our organization,” says Jay Nibbe, EY Global Vice Chair – Tax.