How can technology-led transformation unlock cost savings for a multi-location business?
The company saw that technology can help leverage efficiencies in processes such as accounting and taxation from different locations.
One of the world’s most recognized telecom giants was looking to create synergies amongst multiple business units across 127 countries. The organization’s business units were running standalone processes, but not leveraging strong expertise present in specific locations, many of those that were doing excellent work in various functions, including accounting and statutory compliances, taxation and co-ordination.
After a large acquisition, the organization faced the challenge of eliminating duplication in almost every function. The organization was committed to unlocking cost savings and was assessing the potential to access new technology without sizeable up-front investments. With growing digitalization of tax and finance compliances across the globe, the company wanted to leverage efficiencies through a digital tax solution and ensure preparedness. At the same time, the organization faced two significant challenges. Growing cost pressures and challenges with respect to upskilling of talent to manage in the evolving tax and finance landscape threatened its ability to roll out changes which could potentially bring long-term efficiencies.