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Tax as a Growth Engine: Identifying Opportunities in Compliance Data

Publisher IDC
Published Apr 22, 2025
Length 12 Pages
SKU # IDC19991541

Description

This IDC Perspective provides a comprehensive overview of how companies can transform their approach to tax data, shifting from a focus solely on compliance to actively using tax insights for strategic decision-making and the identification of valuable revenue growth opportunities across various business functions and market landscapes. Real-time compliance data, particularly e-invoicing, is a powerful tool for identifying growth opportunities. Tax companies provide tax compliance products that enable businesses to leverage real-time data for strategic insights, enhancing accuracy, visibility, and operational efficiency.“Moving beyond the traditional view of tax as a cost center, we’ve discovered its powerful potential as a strategic asset. By analyzing real-time tax data, we’re uncovering hidden patterns and opportunities for revenue growth — from identifying untapped markets to optimizing pricing strategies. This data-driven approach transforms compliance into a catalyst for expansion, providing actionable insights that fuel informed decisions and propel our business forward,” says Kevin Permenter, senior director, Financial Applications and Enterprise Applications at IDC.

Table of Contents

12 Pages

Executive Snapshot

Situation Overview

How Can CFOs Leverage Tax Data to Drive Growth?

Identifying Untapped Markets Through Consumption Tax Patterns

Optimizing Pricing Strategies Based on Excise Tax Sensitivity

Strategic Inventory Placement Based on Property Tax Implications

Identifying Opportunities in Special Tax Zones or Incentives

Understanding Cross-Border Tax Implications for International Expansion

Top Benefits of Mining Tax Data

Top Challenges of Mining Tax Data

Best Practices for Implementation and Adoption of This Strategy

Strategic Planning and Vision

Data Infrastructure and Accessibility

Team Training and Skill Development

Gradual Implementation and Iteration

Performance Measurement and Accountability

Change Management and Communication

Advice for the Technology Buyer

Define Your Growth Objectives Up Front

Evaluate Beyond Basic Compliance

Focus on Actionable Insights

Consider Scalability and Future Needs

Evaluate the Vendor’s Expertise and Support

Due Diligence and Proof of Concept

Collaboration Across Teams

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Related Research

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