Connect with us

Featured

Will robots do your tax?

Published

on

Advances in technology and digital automation are transforming the way in which businesses operate – and the tax process is not immune from these changes as robots that can perform repetitive tasks at super high speeds are making their way into the tax sphere.

The tax function of the future will look very different than it does today. This is according to PwC’s ‘Tax Function of the Future’ series – a spotlight on robotic process automation (RPA).

“Process robotics process large volumes of information and data over a shorter period freeing up tax professionals to do high-value activities. Although RPA is still in its infancy, it is expected that robots will ultimately take on higher-level tasks,” says Paul De Chalain, Head of Tax Services for PwC Africa.

Achieving the right mix of people and machines in the workplace and the implications for business is the critical talent issue facing organisations today. According to PwC’s annual ‘Global CEO survey’ 2017, 52% of CEOs (Africa: 53%) say they are considering exploring the benefits of humans and machines working together in the workplace.

Currently, the tax function has a lot of manual processes in place, is time consuming and costly. There is also much gathering of information and data, with an ever-increasing volume of transactions. Our focus on RPA explores the importance of technology in enabling tax function processes, focusing on emerging trends in RPA and its impact on the tax function.

RPA is the use of artificial intelligence and smart software to perform high-volume and repetitive tasks that are normally performed by people. The difference between process robotics and traditional robots is that these robots are trained by using machine learning capabilities. “Robotic processes bring a new dimension to the workplace in that they can perform relatively simple but nevertheless human functions – interpreting, deciding, acting and even learning,” adds Alistair Hofert, Intelligent Automation Lead for PwC South Africa.

How does RPA apply to the tax function?

Process robotics can apply in every area of the tax function where manual processes are still in effect. They can even be applied if tax has already implemented technology solutions for direct and indirect tax compliance and reporting.

Robotics will not replace tax professionals, but they will change what they do and the skills they’ll need.

What actions should tax functions be considering?

The route to RPA need not be a complicated exercise. The paper sets out a typical journey for an organisation. “Tax departments will need to start with an understanding of their underlying processes. The technology is an enabler and not a comprehensive solution in itself. RPA is one of the many digital tools that can be used to gain operational excellence,” Hofert comments.

Organisations will need to identify the manual processes that are suitable for automation. In addition they will need to assess whether RPA will bring benefits in terms of time, costs, and resources. They will also need to evaluate whether RPA is currently being used by other business processes.

“The time is now for tax functions to develop a roadmap for RPA working with finance, IT, HR, the supply chain and other functions that are likely to be impacted,” Hofert concludes.

Featured

AppDate: Shedding light in our times of darkness

SEAN BACHER’S app roundup highlights two load-shedding apps, along with South AfriCAM, NBA 2K Mobile, Virgin Mobile’s Spot 3.0 and SwiftKey.

Published

on

Load Shedding Notifier

With all the uncertainty about when South Africans will next be plunged into darkness by Eskom, the Load Shedding Notifier tries its best to keep up with Eskom’s schedule. The app is very simple to use. Download it, type an area in and click the save button. The app automatically tells you what load shedding stage Eskom is on, the times you can expect to start lighting candles and for how long to burn them.

Multiple areas can be added and one can switch between the different stages to see how each one will affect a certain area.

A grid status is also displayed, showing how strained the country’s electrical network is.

Platform: Android and iOS

Expect to pay: A free download

Stockists: Visit the store linked to your device

EskomSePush Load Shedding App

EskomSePush does much the same as the Load Shedding Notifier, but allows multiple cities to be tracked. However, they may just want to rethink the name of the app if they want wider respectability.

Platform: Android and iOS

Expect to pay: A free download

Stockists: Visit the store linked to your device

South AfriCAM

South AfriCAM enables users to add branded stickers and frames from popular lifestyle magazine titles to their posts, including Huisgenoot, YOU, Drum, Move!, TRUE LOVE, Women’s Health and Men’s Health. 

In the process, they can earn JETPoints for their social influence: through the app’s built-in JET8 social currency, users are rewarded for their engagement. For every in-app like, comment, and share, users earn JETPoints, which can be used to redeem products online or over the counter across more than 2 500 retail stores in South Africa. Users are additionally awarded JETPoints for cross-posting onto external social media networks.

Platform: Android and iOS

Expect to pay: A free download

Stockists: Visit the store linked to your device

Click here to read about console quality graphics on a mobile phone, Virgin Money payments made easier, and an app that redesigns the keyboard.

Previous Page1 of 2

Continue Reading

Featured

Drones to drive
Western Cape agritech

Aerobotics is set to change how farmers treat their crops by using drones and machine learning, writes BRYAN TURNER.

Published

on

The Western Cape is poised to be a hotbed of innovation in the agritech sector, with drone piloting set to playing a major role in in the tech start-up scene.

This is the view of Tim Willis, chief operating officer of pioneering drone company Aerobotics, a Cape Town drone company recognised as a world leader in agritech.

“Drone piloting is a key skill that feeds into the value chain of the budding 4th Industrial Revolution,” said Willis. “Cape Town and the Western Cape is uniquely positioned to be the melting pot for innovation in the agritech sector, as a leading agricultural exporter and a hub for creative tech start-ups.”

He was speaking at AeroCon, a drone expo organised by Aerobotics and held in Johannesburg this week aimed at providing opportunities for drone pilots to apply their skills in South Africa, and to show how drones are being used to collect data on crops. 

The event was supported by the South African Civil Aviation Authority (SACAA), Wesgro, PROMMAC, MicaSense, and Rectron, among other

“We’re starting to sign up farmers across the country,” said Willis. “It’s exciting because farmers are starting to use drone technology on their farms. When a farmer wants a drone flown, they want it flown [now] so it’s important for us to capture that data as quickly as possible to show that drones are fast and effective.”

According to aerobotics, drone technology can help farmers reduce pesticide use on their crops by up to 30%. The result is environmentally friendly farming, reducing stressed crops and a healthier harvest. 

“We use aerial imagery from drones to recreate a 3D model of every single tree on a farmer’s orchard,” said Willis. “We’ve done this for millions of trees and it starts to give the farmers metrics of what they’re doing. We provide them with the health of the trees, the height, the volume, the canopy area, which enable the farms to make decisions on what to do next.”

Click here to read more about AeroCon and what it offers to those wanting to get into the drone industry.

Previous Page1 of 2

Continue Reading

Trending

Copyright © 2018 World Wide Worx