July 24, 2004
Making the Trains Run on Time
Preparing partners' tax returns is not sexy and not remotely strategic, but in a multinational firm with hundreds of partners and dozens of permutations of home/foreign jurisdictions, it can amount to a serious headache and distraction for financial-department personnel who could be doing things that might be more interesting than keeping the auditors at bay.
According to Deloitte, as much as 70% of the work involved is done manually; technology now is mature enough to cut that by 30-40%, according to this article.
It's not sexy and it's not going to win your CFO a promotion, but it's all part of "making the trains run on time" as efficiently and transparently to the partnership as possible.
Posted by Bruce at July 24, 2004 1:29 PM | TrackBackPosted to Finance Printer-friendly version
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