Tax automation is transforming the finance sector, enabling professionals to streamline processes and enhance decision-making with tools such as Alteryx.

Businesses and partners are using artificial intelligence to automate processes and make better decisions, and the challenges for the Office of Finance include economic uncertainty and geopolitical questions, Aaron Bell (pictured, left), senior analystics consultant at Capitalize Consulting, explained.

Aaron Bell and Travis Haworth of Capitalize Consulting talk to theCUBE about tax automation.

“It’s people problems and process problems that we’re trying to fix here. Let’s talk about process problems first. We talked about all the data sources,” Haworth said. “Alteryx can plug into all the data sources that exist in your organization and automate the data extraction so that you’re not having to click into all these different systems and pull that data down manually. The next step is data transformation.”

Bell and Travis Haworth (right), manager of the Office of Finance Transformation at Capitalize Consulting spoke with theCUBE Research’s Rebecca Knight and Rob Strechay at Alteryx Inspire, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed how Alteryx empowers accounting and finance professionals with automation and AI skills to improve efficiency. (* Disclosure below.)

Transform tax operations with advanced tax automation tools

Accounting and finance professionals can use Alteryx to automate processes, take advantage of advanced analytics tools and cut month-end close from 8 days to 4 days through training and upskilling, according to Haworth.

“The same tool that these people just learned to automate their processes, well now they can take advantage of all these advanced analytics tools, some of these AI modules, some of these forecasting,” Haworth said. “These are the same accounting and finance professionals. All they needed was that boost. They needed the tool to line up with their ideas and their dreams and then they go through and execute. I think that’s the biggest thing that Alteryx does well, that’s what Capitalize aims to support.”

Mature organizations looking to scale with Alteryx deployments should focus on building a community and ensuring everyone has a seat at the table to implement big changes. Successful organizations share their wins and create opportunities for employees to share their successes and impact change within the organization, Bell explained.

“I think it’s important to just start having honest conversations as an organization to self-reflect where you are. What technologies do you have? Are you using them? What are your short-term goals, long-term goals from a business perspective,” Bell said. “Does your talent have the skills needed to achieve those goals? And really just starting to have those conversations is the first key step.  Once you start having those conversations and establish the baseline of where you are as an organization, you can then start making informed decisions.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE Research’s coverage of Alteryx Inspire:

(* Disclosure: Capitalize Consulting LLC sponsored this segment of theCUBE. Neither Capitalize Consulting nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE