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ERP & HR Solutions

Financial data: Tax advisers in real time

Online links between tax offices and financial accounting are rare. ERP specialist Exact wants to change that.

27 Jan. 2016
Finanzdaten News

Integrated financial reporting and interfaces to banks, certified accountants or tax accountants are a matter of course for modern ERP systems. However, these opportunities are rarely exploited. Only one in ten companies transmits its data online to tax authorities, according to the "Cloud Barometer 2015". The software manufacturer Exact commissioned this study to examine the collaboration between businesses and tax authorities. The market research institute Pb7 conducted a survey of nearly 3,000 tax consultants and clients in Germany, Belgium, France, Great Britain, the Netherlands and the USA for Exact.

"SMEs continue to digitalize their business processes. However, many companies still work with their tax consultant just like they always have," summarizes Hartmut Wagner, Managing Director of Cloud Solutions at Exact. 45 percent of companies provide the relevant accounting data to their tax office using Excel tables or export documents from their in-house software solution. 41 percent of German tax advisors still receive documents and receipts from their clients in paper form.

At CeBIT 2016 Exact is focusing on the topic "Digital Tax Consulting". At its stand in Hall 2 tax consultants and companies can discover how they can use digital methods to work together in an "efficient, profitable, audit-proof way in accordance with the law". The cloud software Exact Online along with partner solutions, such as audit-proof scanning, will also be presented. Another focus is the DATEVconnect online interface that was developed by DATEV, Exact and other software providers and is currently in a pilot phase. It simplifies the direct transfer of document files from Exact Online to tax consultants via the cloud.

"With integrated, cloud-based business software, entrepreneurs and tax consultants can work with real-time data on a common platform," says Hartmut Wagner describing the advantages of this solution. The digital exchange of document files and booking dates not only provide more efficient accounting, tax consultants can also gain "comprehensive insight into the financial situation and can augment their consulting capabilities."

With its CeBIT initiative "Digital Tax Consulting" Exact is addressing tax consultants who are looking to seamlessly integrate their clients into their own software. "Many tax consultants are pressed for time and under pressure from deadlines. They are aware that they need to go digital due to legal requirements and the demands of their clients – and they want to," explains Christopher Baxter, General Manager of Cloud Solutions Germany at Exact. "However, many have no idea what the best way is to go about it. And this is what we want to change with our initiative and our presentation at CeBIT. In other words, we will show how simple it is to go digital, which individual components are necessary, and how customized, digital collaboration between tax consultants and their clients actually works in practice."