Loctax

On’s success with Loctax: Achieving full global compliance visibility and a 50% reduction in advisor email traffic. ?????? ??♂??? About On ??♂??? On is a Swiss???? athletic shoe and performance sportswear brand that has rapidly expanded into global markets, establishing itself as a leader in innovation and high-quality design. ?? Problem ?? As On prepared for its IPO and doubled its compliance obligations across multiple jurisdictions, the tax team found it increasingly difficult to manage global tax obligations using spreadsheets and shared drives. Disorganized data, manual workflows, and high advisor switching costs added pressure and inefficiency, making it clear that a scalable, centralized solution was essential. ?? Solution ?? On partnered with Loctax to centralize their tax data and enable real-time compliance monitoring across all tax obligations. Loctax provided On’s tax team with a single platform for streamlined data access, automated workflows, and seamless advisor transitions—transforming their approach to tax management. ?? Strategy ?? With Loctax, On’s tax team gained full visibility into tax filings and deadlines across every jurisdiction, allowing them to manage compliance obligations efficiently. Automated workflows helped ensure timely, consistent filings, while centralizing data made it easy to adapt quickly as the team grew and new advisors joined. ?? With Loctax, On achieved ?? : — Real-time visibility across all tax obligations—globally — Scalable processes for continued growth — 50% reduction in advisor email traffic — Quick and seamless transition between advisors Thanks for sharing your story with us Mattias Schmid, Dr. Julia Sailer, Giorgio Mattioni, to many more great runs! (pun intended)

Join us on October 21st for an exclusive live session with Katharina Herzog, Senior VP Group Finance and Tax at HUGO BOSS! ?? We’ll cover: 1?? Building a Business Case for Resources: Learn practical tips to secure the budget and team support your tax function needs. 2?? The Finance-Tax Dynamic: Discover how to elevate tax’s role as a strategic partner within finance. 3?? Crafting a Persuasive Business Case: Uncover key components and value drivers that convince leadership. 4?? The Benefits of In-Sourcing Tax: Understand why in-sourcing is critical for managing tax complexity and boosting agility. ?? Date: Monday, October 21, 2024 ?? Time: 2 PM CET Reserve your spot here ??????: https://lu.ma/3sdyn1fp P.S. Can’t make it live? Sign up anyway, and we’ll send you the recording ??.

Last week, our team gathered in Brussels ???? for another amazing offsite—expertly organised by Redona. It was an important and energising time to align on our path of building the next-generation system for managing global tax obligations. We celebrated our recent wins, addressed the challenges ahead, and worked on intricate engineering solutions to simplify tax management and make it more efficient for our customers. And we surely did not forget to have plenty of fun in between ?? ?? ??. Now, the focus is on *relentless execution*. We’ve set our course and are fully committed to bringing our vision to life, making tax obligation management simpler and smarter for all in-house tax teams. The remainder of Q4 is all about turning these plans into action, and we’re ready to go full throttle. Big things are coming from Loctax soon—stay tuned. Let’s go team ??

?? Welcome Joe Model to the Loctax Team ?? We're excited to announce that Joe Model has joined us as an Account Executive, focusing on Northern Europe! Based in London, Joe brings a wealth of experience in sales, having worked across marketing solutions and operations cloud technology. He also founded and ran his own business intelligence company for three years. Outside of work, Joe is all about staying active. He enjoys cycling, climbing, and open-water swimming. And when he’s not outdoors, you'll find him watching new TV series, reading, or listening to podcasts. Join us in welcoming Joe to Loctax! We're excited to see the impact he'll make. Our sales organisation is growing fast and we are actively seeking highly ambitious folks to join us on this ride. Currently, we're looking for a BDR and a Sales Engineer. Think you'd be a good fit? Send your DMs to Jesper Bengtsson.

After having hundreds and hundreds of conversations with many different tax teams, certain trends emerge... Stay tuned for more ??

Come join us on a journey of content innovation. All fresh and new – ready to be explored. The most valuable and fun content for in-house tax teams. Let's go.

“This will not work in our type of organization”... This is an objection that I hear way too often ??. The tax team is fully convinced about the new way of working. But there is a shared belief that local finance will not accept it ??. If that’s not enough, there is the concern that the transformation will only result in “more work”... I can imagine that stakeholders want to stick to the old way of working. Who is looking forward to change in the end? But obviously, transforming the tax function is not about change for the sake of change. This is about driving value. Unlocking efficiencies. Future-proofing of the tax function in order to be prepared for upcoming change. To decrease risks by installing controls. And so much more. Often I hear that only tax cares about controls and compliance. Why would local stakeholders be concerned? Well, first of all, compliance is a shared responsibility of the entire organization. Not only for tax. Secondly, in case of non-compliance, sh*t will come down. I can guarantee that. Other than the CFO’s spotlight on the local team that caused the incompliance, we are obviously talking about financial and reputational (let alone criminal) risks. Installing better and more controlled ways of working will benefit everybody… Oh, and about the “more work” objection? The new way of working is supposed to replace the old way. Don’t forget that. It is never the idea to have the new way on top of the old way. Typically the new way is designed to bring efficiencies. Giving time back to the stakeholders involved. Finally, here is the best question to raise to critical voices in your organization who block the transformation of the tax function. It is a very simple question: “what is your plan B”? Because, in the ecosystem tax is operating in, every player is digitizing and transforming. The tax authorities in the first place. At the speed of light. Yes, we can do nothing this year. But how long are you going to sustain this? The longer you wait, the more painful getting started will be…

Yesterday we were lucky to have Dr. Larry Skor and Juan Carlos Rubio on stage during a fruitful panel discussion about “How to become a data-driven tax function”. Here are 5 insights I want to share with you: – 56% of the webinar participants indicated that indirect tax requires most of their attention from a tax data management perspective. Probably does not come as a surprise, given that it is transactional, and given the high volume. Another 35% argued that direct tax data is more demanding. The region, size, industry and maturity of the MNC will probably further influence this. – 56% indicated that sourcing, structuring and storing the data are the most crucial aspects of effective data management. That resonates a lot with me. We tax people consume a lot of data, and that data is sourced from all corners of the organization, from different data owners and different sources, in different formats and quality levels. We also produce a lot of data. Structuring and storing it is key for any of the next steps in the data lifecycle. – Oh boy, 42% indicates that chasing data owners to deliver on time is most painful. I cannot agree more. I have been there. Multiple times. So frustrating. Another 30% voted that the absence of a structured data repository is most annoying. – If you wonder why people signed up in the first place for this webinar and the topic on how to become more data-driven as a tax team, the answer is fairly simple. 32% wants to have the right levels of data readiness to support the business. I fully get that. Business support is the shared mission among all tax teams. Another 50% wants to step up their data game for tax compliance and tax audit purposes. Makes sense as well, given that compliance is getting more demanding and complex every single year. And controversy continues to be on the rise, unfortunately. – 72% of the audience does not have a data management tool, or is forced to work with SharePoint or Google Drive. A hard reality, but no surprise at all. We discussed in the webinar some of the pro’s and con’s of SharePoint.? There was consensus on how to improve your data game. The most important thing is: get started, now! Start small however. Identify the data priorities for your company, and kick your journey into gear. – I loved this quote: data ownership assumes data responsibility. We discussed it in the light of the Legal Org Chart (and related CoSec data). Tax is a key user of the data, with very high quality requirements, but is not the owner. Legal is typically the owner, but they are not necessarily the key user, or they may have different quality requirements. Is this the reason why we still keep Legal Org Charts (and related data) in PowerPoint or Excel? Let that sink in… A full recording of the panel discussion can be found here:?https://lnkd.in/dQz9gH8d

Join us this Thursday to learn how to build a data-driven tax department. Register your spot here ???? https://lnkd.in/d4pTzVK9 Bring your most burning questions to these amazing in-house tax leaders: – Dr. Larry Skor – Vice President, Tax at Checkout.com – Juan Carlos Rubio – Senior Director, International Tax Reporting & Compliance at Newell Brands – Stevi Frooninckx (Moderator) - Co-Founder & CEO at Loctax We will discuss: – What is Effective Tax Data Management? Understand the key components and benefits. – Industry-Specific Challenges: Hear from the speakers about the top obstacles they face. – Tools and Solutions: Explore the types of tax data management software in use today. – Tax Technology Teams: Learn whether your organisation needs a dedicated tax tech team or can partner with providers. – Common Pitfalls: Address challenges like data silos, version control, and data accuracy. – Next-Gen Tax Tech: Is AI the future of tax data management?

For all tax managers eager to build a data-driven tax department - come join us and participate in a live discussion.