CFO Slice

Niklas Elofsson and Vsevolod Konyshev from KPMG Sweden discuss how tax functions can effectively manage complexity and create long-term value through structured transformation strategies. They emphasize that "reactive measures are insufficient" in the face of increasing regulatory demands and resource pressures. The authors outline six key areas for successful transformation: people, governance, process, data, technology, and the tax delivery model. They advocate for a strategic assessment of current capabilities to identify strengths and weaknesses, followed by a roadmap prioritizing impactful initiatives. Leveraging data and technology is crucial, with a focus on establishing reliable data sources and integrating various tools. Additionally, aligning people and processes with clear governance and change management strategies is essential for success. They conclude that integrated transformation is vital for reducing compliance costs and enhancing the tax function's strategic value.