SWOT for Tax Six Steps to Help Plan Your Attack! (1 hour)

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1 Presented by: Kelley Lear SWOT for Tax Six Steps to Help Plan Your Attack! (1 hour) To access audio, use the GoToMeeting Mic & Speakers feature when prompted OR Dial and enter Access Code #: # Audio PIN: 45

2 Paul Mattiola Verizon Communications ACT Vice President Introduction

3 Before we get started You can use your computer Mic & Speakers if desired OR you can call in to and enter Access Code #: # How to ask a question: Attendee lines are muted Please use the Questions feature to ask a question We will monitor and answer as many Qs as possible and have Q&A session at the end of the presentation Session is being recorded ACT website: RedMoon website:

4 Embark on a mission with us SWOT Overview Six Steps to Plan your Attack! Discussion On Strengths Weaknesses Opportunities Threats After your SWOT

5 What is SWOT?? NOT SWAT SWOT!

6 What is a SWOT SWOT is an extremely useful tool for understanding and decisionmaking for all sorts of situations in business. SWOT is an acronym for Strength, Weaknesses, Opportunities, Threats.

7 NOT just for Marketing!! SWOT is a process and/or analysis methodology that can help you to easily get your team to analyze a piece of your tax lifecycle or the entire process It opens up team member thoughts and allows them to brainstorm freely and without fear! Brings good ideas to the table and lifts up areas for change and opportunities to excel.

8 How is a SWOT Helpful? A SWOT analysis can offer helpful perspectives at any stage of an effort. You might use it to: Explore possibilities for new ways to communicate with Finance and Accounting to get the data you need Make decisions about the process and solutions with respect to FIN 48 and provision Lift up manual processes associated with apportionment Identify manual processes and risks associated with fixed asset management data and processes

9 You might use it to: Identify best practice procedures and create checklists Lift up the need for using a tax portal for collaboration and workflow in tax Identify the need to improve your audit through appeals processes Simply to determine where change is possible How is a SWOT Helpful?

10 How is a SWOT Helpful? A SWOT analysis generates information that is helpful in matching an organization s goals, programs and capacities to the social and business environment in which it operates. Instead of worrying about the future, let us labor to create it. Hubert Humphrey

11 Four Key Elements

12 Four Key Elements

13 Define scope Define process Workshop process Ground rules Expected outcomes Setup room for workshop Flip charts White boards Scribe/recorder

from other processes. Divide the strengths into categories.

14 Identify what creates value. A strength is something that makes your process valuable, what sets it apart from other processes. Divide the strengths into categories. They can be listed as assets, resources and specialized skills that your process or staff have available. Assess the specialized skills within your staff.

15 Step 2: Strengths Skill and/or knowledge of tax department resources Communication with finance Tax sensitized data Tax technology resource Excel or database skills Part of process FAS 109/FIN 48 Relationships within the company

Analyze weak points of your process from an internal perspective.

16 Analyze weak points of your process from an internal perspective. Where can you improve data quality or acquire the expertise that creates value? Identify weak points from a manual process, data integrity or knowledge point of view. Reasons why you might end up with an answer that has not had much review or analysis. Be sure to include things related to staff, missing or incorrect data, lacking skills, tax and technology resources.

17 Step 3: Weaknesses Turnover or retiring employees No knowledgeable tax accounting resource Communication with finance and IT No tax sensitized data Manual processes Poor teamwork Lack of time

18 Identify external factors that may positively effect the programs. These could be IT initiatives, Finance Initiatives, Tax Incentive Programs, Regulatory Reform, Staff Training Identify realistic concepts that may stimulate growth or efficiencies in your process Identify new technologies to improve processes

19 Step 4: Opportunities IFRS or UTP may provide a valid argument or ROI for budget Business restructuring ERP upgrade Industry organizations Enterprise systems used in other departments

Identify weaknesses that threaten your program?

20 Identify external obstacles that may negatively impact the programs such as regulatory reform. Identify weaknesses that threaten your program? Divide the threats into categories. They can be listed as current or future.

21 Step 5: Threats IFRS, UTP or other regulatory changes Business restructuring Heightened cross border audit activity Retiring employees States hungry for $$$

Step 6: AFTER THE SWOT Priorities and Planning Knowledge is indeed power, and knowing what the positives and negatives of your process puts you in a more powerful position for action.

22 Step 6: AFTER THE SWOT Priorities and Planning Knowledge is indeed power, and knowing what the positives and negatives of your process puts you in a more powerful position for action. While a SWOT analysis is not in itself action, it can be a "support team" to help you: Identify the issues or problems you intend to change Set or reaffirm goals Conduct a more in-depth process map Create an action plan based on findings!!

23 Thanks! Kelley Lear Q A

24 Upcoming ACT Events Paul Mattiola ACT Vice President Verizon Communications

25 Upcoming ACT Events Bi Monthly Webinar Series Next Webinar February 15, :00p.m. EST Utilizing Technology to Drive Business Processes Hosted by Deloitte Annual Conference June 20-22, 2011 Loews Coronado Bay Resort, San Diego, CA Registration will open later this month

26 Thank you for attending! The Association for Computers & Taxation and Red Moon Solutions appreciate the opportunity to spend time with you today and hope you found the presentation interesting and informative. If you desire more information about Red Moon Solutions, please call Kelley or visit OR If you are interested in joining ACT or finding out more information about the organization, please visit or contact Brenda Jameson at: Thanks again for joining us!

ELEVATING EXPENSE MANAGEMENT

ELEVATING EXPENSE MANAGEMENT We appreciate your patience as we allow registrants a little extra time to log into the web seminar. Please note there will be silence on your phone line until the moderator begins the presentation. ELEVATING