So why did the case come to mind when I was thinking about tax technology? Because it made me realise how different the exercise could be now: I could delegate the time-consuming task of going through the boxes and get someone to carefully capture every document using an OCR enabled scanner. With the information contained in the physical documents digitised, I would then be able to search on key words. And having found my tree in the forest I could cut and categorise information in different ways: chronologically to see the timeline, by tax year for the outstanding tax returns or by entity for valuation and other purposes for example. I would also have a structured set of digital files, enabling me to share relevant documents securely with other professionals involved in the case. My time would be dramatically reduced leaving me free to do other high-value work and – equally importantly – ensuring that when I did turn my attention to the task that my skill-set was really needed for, I would be firing on all cylinders.
Such technology did not exist when I trawled those dusty files, but it does now, bringing with it the potential to transform mundane tasks and allocate valuable time and resource far more effectively, increasing both efficiency and profitability.
The critical professional skill was then (and remains now) knowing what to look for – and that still needs a human being. Far from making that skill redundant, the right technology can make it even more valuable.