The new law is fairly expansive, with the power to disrupt both accounting and business models. But beyond the tax and accounting issues, these changes to the tax code could have a profound impact on how businesses operate, and offer up the opportunity to leverage tax savings to invest more aggressively in transformational business processes and technologies.
Think cloud, the Internet of Things (IoT), machine learning, automation, and data analytics. Or talent and training. Or digitizing the supply chain. All the elements needed to increase competitive positioning, improve business agility, and better serve the customer.
There are three key elements of the new tax code worth diving into, each bringing a bit of disruption and a bit of “tech” opportunity for the more forward-thinking companies.