Innovation in Tax Data Management from Deloitte and Snowflake

Revolutionizing Tax Data Management through Deloitte and Snowflake Collaboration

Deloitte Tax LLP ("Deloitte Tax") announced the expansion of its strategic collaboration with Snowflake. This partnership aims to tackle cloud modernization challenges and provide innovative cloud data solutions to tax departments.

Effective data management is a cornerstone of a modern tax department's Artificial Intelligence (AI) journey, enhancing strategic agility and operational excellence. Tax teams can unlock the full potential of advanced technologies, reduce integration costs, and access historical and real-time data by establishing robust data foundations. Strong centralized data management has become a critical element for tax departments adopting advanced technologies to sustain innovation and agility.

The expansion of Deloitte Tax’s existing collaboration with Snowflake will combine Snowflake's cloud data management capabilities with Deloitte's leading tax services, providing better visibility into corporate tax data and a single source of truth for accurate tax reporting, efficient comparisons, and strategic tax planning.

Carin Giuliante, CEO of Deloitte Tax, stated, "Deloitte Tax is committed to driving innovation in tax data management, and our expanded collaboration with Snowflake is a testament to that commitment. Together, we will not only offer our clients the latest data management capabilities that streamline tax processes and enhance data accuracy but also lay the groundwork for future AI-powered solutions that will support strategic decision-making processes."

Within the framework of this expanded collaboration, Deloitte Tax and Snowflake will work together to develop data management accelerators in several areas to support tax management. These areas include:

• Joint Data Models: The two companies are collaborating to design and implement joint data models that ensure consistency by integrating different data sources. This foundation will facilitate data integration, making tax operations more efficient.
• Standard Reporting: The joint effort aims to deliver standard reporting outputs including tax work papers, tax system integration, exemption reports, tax management reporting, and analytical support. This approach will reduce manual effort and enhance accuracy in tax reporting.
• AI Data Preparation: The expanded collaboration will focus on developing data models to support Tax AI processes. Creating structured, reliable datasets compliant with tax processes will lay the foundation for driving AI capabilities across the organization.

Amy Kodl, Vice President of Snowflake's America Alliances division, said, "We are excited to expand our collaboration with Deloitte; this is an important step to enhance tax data management and analytics." This relationship will help organizations manage their tax processes more efficiently by providing scalable, structured data solutions.

RJ Littleton, Partner at Deloitte Tax, noted, "The expanded collaboration of Deloitte Tax is an important step in our mission to provide seamless tax data management solutions." With our relationship with Snowflake expanding, we aim to provide our clients with unparalleled visibility into their tax data, enhancing their benchmarking efforts and operational efficiency."