On Wednesday, 27 January, the first TaxTech Roundtable took place on the Clubhouse app. Clubhouse is an audio call-in platform. Every account can create a so-called ‘room’, which consists of a stage and an audience area. In the TaxTech room, tax experts discussed the latest software developments, requests for manufacturers and industry trends. The event was moderated by Philip Hellmig from kanzlei.land and hsp Managing Director Paul Liese.

To begin with, the participants took some time to find their bearings in the new surroundings. The discussion then got underway straight away on a technical level. The panellists were particularly unanimous on the subject of media breaks. Many manufacturers, but also law firms, are currently pursuing the overarching goal of eliminating media breaks. For law firms, this is not necessarily about finding a ‘one-size-fits-all’ solution. Rather, all industry experts agree that the aim must be to ensure the best possible integration of software solutions with one another.

No one expects a solution that can do everything. One participant pointed out that every law firm and every tax consultancy has set up its own individual processes. So there is no one-size-fits-all solution. It would not be feasible, in terms of resources, to incorporate all functions into a single platform. The partnership between kanzlei.land and hsp demonstrates this to the interested audience: the future lies at interfaces that are as clean as possible.

In search of efficiency

One tax adviser highlighted the fact that developments in the software sector are still, in some respects, laborious. Duplicate data records, unnecessary scans and the accumulation of data clutter must finally be eliminated. Furthermore, another participant once again pointed out that the focus should not be on tax consultancy, but on the clients. Software companies are therefore called upon to develop solutions that enable clients to compile all the necessary information as quickly as possible. It is at this point that tax consultancy assumes the advisory role – one that, in some firms, could be further developed.

Amidst all the calls for Digitalisation Amidst these developments, there were also words of caution. Many long-established tax consultancy firms are simply overwhelmed by the rapid pace of change in the sector. This is hardly surprising, given that they are frequently confronted with digital solutions that are neither self-explanatory nor intuitive. Moreover, these solutions usually do not really fit in with the analogue processes established over decades within the firms. Several participants believe that tax advisory firms have a duty to educate their clients and demonstrate how established but slow processes can be simplified and accelerated through digital solutions.

Seeking intuitive solutions

Philip Hellmig also calls on software companies to take responsibility for developing intuitive solutions. It is precisely in this area that small and medium-sized software companies have an advantage over the big players. During the Clubhouse discussion on Wednesday evening, it became abundantly clear that one of these market leaders is virtually unreachable when tax consultancy firms approach it with ideas and feedback. Two representatives from the company were also present, so the TaxTech discussion effectively served as a feedback channel.

By the end of the engaging panel discussion, the participants were in agreement on many points. More digitalisation, yes. But greater awareness is also needed. Interconnectivity must be the goal, not a single, all-encompassing provider. Furthermore, tax consultancy firms expect software companies to listen to their requests and feedback.

Conclusion

The first TaxTech discussion can be considered a success; at times, there were nearly 40 experts in the room. As Clubhouse discussions cannot be recorded, it’s a case of ‘be there or miss out’. The discussion series will continue next week. So it remains exciting.