The 2024 EY Tax and Finance Operations (TFO) survey highlights how generative AI (GenAI) can transform Tax and Finance functions, with 87% of respondents expecting significant efficiency gains. This marks a notable shift from last year’s survey and emphasizes GenAI’s potential to address challenges like cost pressures, talent shortages, and complex regulations.

What if the Tax function could empower its people to design with the end goal in mind? Imagine creating a team of citizen developers who can utilize the existing IT infrastructure and access core business data through a secure, integrated network. This would enable Tax functions to access new integrated platforms, allowing them to design, build, and respond to current and future requirements effectively.

EY and SAP teams help tax departments transform their ideas into business applications

To demonstrate the effectiveness of SAP Build within the Tax function, as highlighted in the EY-SAP whitepaper Unifying user experience in the Tax function, EY developed the country-by-country reporting (CbCR) Safe Harbour Test as a use case. While there are specific solutions in the SAP portfolio designed for CbCR reporting requirements, EY teams have chosen this case to show how useful SAP Build can be for setting up complete processes.

The fact that EY teams developed the CbCR Safe Harbour Test application using SAP Build demonstrates that digital solutions can be leveraged by tax departments for improved tax compliance management and streamlined administrative processes. With features like drag-and drop functionality, AI, process automation, and integration of various data sources, SAP Build can enable users to digitize tax processes such as transfer pricing, indirect taxes, tax risk management, and tax audit.

By leveraging core SAP and related ecosystem SAP applications for tax, such as SAP Build, and by using EY leading knowledge and experience, the agile Tax function needed yesterday can be realized today and continue to evolve tomorrow.

Integration is key and businesses that have already implemented SAP solutions can benefit from a simple and quick addition of the SAP Build tool to their existing landscape, which includes centralized governance, security, and product lifecycle management.

Overall, as EY teams demonstrate, SAP Build makes app development accessible to all and can empower tax departments to improve their operations.

EY’s commitment to "building a better working world"

The EY organization is one of the largest global professional services networks. Dedicated to its mission of "building a better working world," EY exists to build a better working world, helping create long-term value for clients, people, and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform, and operate.

Through its longstanding partnership with SAP, EY combines its industry expertise with SAP technology.

The EY and SAP alliance provides trusted and strong brand collaboration with the right capabilities to help large corporations. EY teams have in-depth experience of designing, configuring, and helping implement SAP solutions. EY teams leverage experience from other tax, statutory finance, and managerial finance use-cases, such as operational transfer pricing, sustainability, and performance management.