Technology that today allows remote access to files, facilitates automation and data analytics, ensures high levels of security, and enables collaboration on the cloud is transforming tax processes and working practices for companies. Hybrid or co-sourcing models are emerging that permit tax departments to pick and choose which tasks are outsourced and which are kept in-house. The result is a cost-effective and flexible tax model that lets companies fill gaps in their skills and dial up or dial down the level of outsourced support as needed.
As technology continues to evolve and becomes increasingly ingrained, 2023 is likely to be a watershed year when co-sourcing becomes a mainstay of the tax industry.
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