EY warns tax and finance must ditch one-off transformation programmes

EY says teams should centralise trusted data, tighten governance, and use co-sourcing to speed tools and training access.

Tax and finance functions need to adopt a more agile and continuously evolving operating model to stay resilient amid rapid and interconnected change, according to a report from EY.

The firm argued that transformation should no longer be treated as a one-off programme, but as an ongoing process focused on measurable impact, control, and adaptability.

It said tax and finance leaders can deliver greater value and assert more control by embedding AI-enabled services within a flexible operating model that is designed to anticipate change rather than react to it.

EY identified five core components of a fit-for-purpose operating model. First, it highlighted the need to build trusted, granular data foundations by centralising data into a single, reliable source that can be reused across the organisation.

Second, it called for empowering professionals to work effectively with AI and data by simplifying build-and-deploy processes, enabling low- and no-code tools, and leveraging advances in agentic AI to boost productivity and innovation.

Third, EY stressed the importance of standards and governance that balance control with responsiveness, including careful choices around centralisation and decentralisation.

Fourth, it said tax and finance teams need to work more closely with IT and other functions, adopting a platform mindset that allows data and technology to be shared and integrated across the organisation.

Finally, EY said working with trusted external providers, including through co-sourcing arrangements, can accelerate transformation by providing access to tools, training, and established standards, whilst helping organisations deliver tangible outcomes and keep pace with ongoing change.