In today’s fast-paced, high-stakes business environment, corporate accountants and finance professionals are under increasing pressure to deliver accurate and timely insights. From navigating multijurisdictional regulations to explaining complex tax positions to non-finance stakeholders, the demands on in-house professionals are growing, and so are the risks of getting it wrong. But here’s the kicker: many teams are relying on outdated methods and general-purpose tools to support their decision-making.
If your team uses Google, ChatGPT, or a patchwork of annually updated publications, locally saved PDFs, and bookmarked links to conduct tax research, you’re not alone. But you might be missing out on a smarter, more strategic way to work.
If your team uses Google, ChatGPT, or a patchwork of annually updated publications, locally saved PDFs, and bookmarked links to conduct tax research, you’re not alone. But you might be missing out on a smarter, more strategic way to work.
The hidden costs of “good enough” research
At first glance, free tools and ad hoc methods seem efficient, especially if your team has a process in place. They’re fast, familiar, and always available. But when it comes to corporate tax and regulatory research, they often fall short in critical ways that matter to decision-makers:
- Risk of inconsistent or outdated information. It’s easy to accidentally rely on outdated or incomplete information, especially when you primarily use locally saved PDFs, bookmarked links, or rarely updated periodicals as your primary research source.
- Lack of transparency. If you or your team rely on search engines or free Generative AI tools for tax research, you often don’t know the source or reliability of the information, often leading to wasting time verifying the answers.
- Time-consuming verification. When the information you’re reading can’t be trusted to have come from an up-to-date, authoritative source, efficiency drops. Once again, you have to take extra time cross-checking results, defeating the purpose of “quick” research.
- No audit trail. There’s no way to document or defend your research process if it’s challenged or additional detail is needed.
