GCR and EYKeySpace™
Where digital disruption gives rise to a simpler way of working
Today’s digital technology landscape is both demanding and complex. In fact, digital has become a continuous form of disruption to business models, products and services — challenging companies to adapt quickly or become obsolete.
It’s changing the makeup of the tax function and the relationship between taxpayer and tax authority, adding governments’ use of more sophisticated data analytics to the already demanding regulatory and reporting environment.
Tax and finance professionals: navigating many unknowns
Whether a company does business with a multinational footprint or operates in a single country, tax and finance professionals are expected to navigate through largely uncharted territory while maintaining an enterprise-wide view across the tax life cycle and the record-to-report processes.
And corporate and divisional executives are under more pressure to continue to achieve growth through economic uncertainty, drive business transformation and control costs in that same setting.
The power of Global Compliance and Reporting and EYKeySpaceTM
At EY, we’re always looking for ways to make meeting complex business challenges simpler, and that’s especially important in the context of digital disruption. It starts with EY’s Global Compliance and Reporting (GCR) services.
Although GCR is a long-standing service line, our new approach makes it a strategic component of this emerging new digital tax function and the broader digital working world.
Operating at the intersection of Finance and Tax, it offers a holistic approach that covers all the key elements of a company’s tax life cycle — planning, accounting, compliance and controversy — along with the key filing and statutory reporting processes that reside within the broader record to report spectrum.
Harness the upside of digital disruption
Central to this digital responsiveness is the innovation of EYKeySpaceTM, our full suite of leading-edge technology that helps harness the upside of digital disruption through a single powerful portal.
We know that Finance and Tax create and use much of the same data, but innate disparities mean that transactions may be classified and reported inconsistently. EYKeySpaceTM can bridge the traditional gap between the two business functions, connecting their disparate data through a common digital language and demystifying the multijurisdictional complexities with common terminology and common interfaces that enable better collaboration, accuracy and oversight. All through one digital control point.
GCR and EYKeySpaceTM are potential game changers. Do you want to know what difference they can make in your new digital tax function and your working world?