With all the talk of innovation, robotics and artificial intelligence changing the landscape of how tax departments function, it is imperative that tax professionals position themselves as something more than data movers.
Certain areas of accounting and tax have been commodities for years. Now, with technology, it will become even more so. As I have been saying for years, the real value of a tax consultant is providing leverage - knowledge, judgment and advocacy. In other words, it isn't the data that helps a company win an audit, determine a position on a return, or plan to minimize tax on a merger or acquisition. It is the knowledge, judgment and advocacy (expertise) of the tax professional and his or her ability to interpret and apply the law to specific data. The experience and connections of a tax professional cannot be mimicked by a computer or robot.
Position yourself to be valuable. Position yourself to provide leverage.
That's my objective.