3 Ways to Mitigate Risks While Maximising Profitability

mitigate risk to maximise profit

How to Turn Regulatory Changes into Moments of Certainty

The ever-evolving tax code can feel like a master class in administrative complexity and confusion. Even as your business grows, navigating regulations and avoiding the compliance missteps that lead to heavy fines can place a tremendous burden on your time and resources.

While governments seek new ways to capture revenue from businesses, your finance and tax leaders are expected to control and manage tax compliance as efficiently and accurately as possible. More importantly, they must restructure their businesses to drive down the cost of supporting such a time-intensive, mission-critical task.  

Unfortunately, the changing work behaviors and innovative business models are only further complicating your tax management challenges. For example, the adoption of hybrid work arrangements creates new categories of work-from-home spending that may be considered taxable benefits and need to be included in payroll. The use of e-commerce or subscription-based models is increasing the volume of transactions that must be tracked and reported to calculate sales tax.  

Fortunately, with the right intelligence and tools, your entire finance operation can access the resources and skills to provide deep advisory support and govern tax management across the business. Regardless of the industry and business size, SAP Concur and Blue dot can help you adopt advanced technologies, provide you best practices and processes to meet compliance requirements, and establish compliance certainty. 

Download this tip sheet to see where you stand on tax compliance and check on the three strategies you should consider to gain more control.