Tax Technology Innovation and Automation Benchmark Report

This document is a benchmark report detailing findings from a survey conducted by SAPinsider regarding tax technology innovation and automation. The survey, which took place between September and December 2024, gathered insights from tax teams primarily in North America and EMEA, focusing on their investments in tax technology. The report indicates that a majority of respondents anticipate an increase in budget allocations for tax technology over the next two years, with 17% expecting significant increases. The primary drivers for these investments include the desire to reduce tax risks, navigate increasing regulatory complexity, and support business scalability. The report also highlights concerns regarding data security and privacy laws, which have become a leading influence on tax technology strategies. Furthermore, it discusses the challenges faced by tax teams, such as integration issues and the need for new technical expertise, while emphasizing the importance of improving data management and compliance processes.