83% of tax, auditing firm execs plan to outsource

NEW YORK, UNITED STATES — A new report by multinational professional services network KPMG International revealed that 83% of chief tax officers (CTO) plan to use outsourcing and managed services in the next three years. 

“The change that Chief Tax Officers must grapple with is rapid, relentless, and coming from all directions,” said Greg Engel, Vice Chair for Tax at KPMG. 

“It makes perfect sense for CTOs to ramp up their interest in outsourcing models given the current economic, regulatory, and talent environment. In fact, it’s best practice for companies to periodically reassess their need for these models to address changing dynamics in the market and equip themselves with the right resources to compete and succeed,” Engel said. 

Rema Serafi, National Managing Partner for Tax at KPMG, explains that outsourcing helps with cost reduction over time while providing the best technology and expertise. 

“Deploying the right technology in a corporate tax department is make-or-break in an ultra-competitive market,” she said. 

“This is why working with a service provider that has state-of-the-art tax technology can bring tremendous value to an organization, equipping them with resources they likely would not invest in themselves and allowing them to focus on adding more strategic value to the overall business,” Serafi said.