Why Modios Stands Alone as the RPA Tax Solution
January 8, 2020
There is a crown-jewel quotation in tax industry editorial that is more tempting than a meaty brain dangled in front of a zombie’s face: “In this world, nothing can be said to be certain, except death and taxes.” Now, if Benjamin Franklin were alive today, he might realize that the two inevitabilities are, in fact, that business practice must get more complex and that businesses which don’t account for complexity go under. So, taxes and death I suppose. Paying attention to tax quotes from 1789 is what brought the tax industry to the status quo that we see today, and we see most companies settling accounts by hand. So why does Cordiance stand alone as the only RPA tax solution? Why is clinging to tradition seen as the easy way out? There are three challenges that Cordiance account for as the sole member of its own category, and they are ice climbing, the American education system, and the restrictions of flexibility.
THE NOT-SO-ENTERTAINING WORLD OF VIRTUAL ICE CLIMBING
Dierk Haskin, CPO of Cordiance, has a firm belief about his company’s position, “Tax Automation is a lot like ice climbing, there’s no coasting unless you’re falling.”
Unlike many industries as boring as ours, there’s life-altering penalties for mistakes. Fines, Bankruptcies, Shutdowns, Jail time! So there’s not a thing as slacking off, especially when the entire world is very slowly learning to trust and use automation. These systems are seen as unproven, even when Cordiance incorporates its own lifeblood into its business rules. As Paul Woeltje, one of Cordiance’s Principal Consultants, emphasizes, Cordiance as a company is built on a software that is built on expertise and best practice, even stating:
“If I woke up tomorrow and I couldn’t use Modios [Cordiance’s RPA Tax Solution] anymore, I would retire again. The old way of doing things isn’t worth the time.”
So here at Cordiance, we are already living in the future that we are shunting into existence. This act of alchemy requires constant hustle. Let me dip Cordiance’s cards here: in the eyes of many, we don’t have any laurels to rest on. Sure, we have over 400 years of collective tax experience on board, one of the oldest in the industry especially for a team of our size. For many this would mean conceding to the old way, but this makes Cordiance hungry to prove itself and its solution. Because Cordiance believes in Modios and itself. Because we have the privilege to as the new kid on the block. So there’s no coasting, only climbing.
UNTEACHABLE SKILLS
The marquis reason that Cordiance stands alone as the only RPA tax solution provider is summed up best by Cordiance’s CPO Dierk Haskin, “You can’t go to school for tax automation.”
Why are no other, established firms trying to beat us to it? Because they don’t know how. It’s easier to do something that someone has done before. Cordiance is in a constant battle with itself to refine best practice, company image, and protocol. That what happens when you build a company around adaptability, centuries of expertise, and customer satisfaction. You don’t get centuries of expertise without accepting at one point or another that there’s better ways of doing things. This mission only works with dedicated implementers who are enthusiastic about the platform, but also willing to let Modios grow and for client input to shape the process. Once we are teaching the class in collegiate finance departments, then maybe the other guys will know how to do it. But why not go directly to the source? If we know anything about middlemen, they always take their 15%.
FLEXIBILITY = STANDARDIZATION, AND OTHER TRUE PARADOXES
I asked Paul Woeltje, principal consultant at Cordiance, what marketing message he wish that people knew about Cordiance and all he said was: “Sometimes you’re wrong.” Later elaborating: “That either makes you give up or heartset on figuring it out.”
The thing about automation is it standardizes more than most people would like. Once Modios configures your tax footprint, we can take it from one tax software to another, from ONESOURCE to Vertex. Modios pares the complexity down to requirements. Individually cherished business practices go out the window when flexible, achronological processes get introduced. And this is hard for many professionals who have had great successes with their way. But Modios is the great synthesis machine. It makes my way and your way into our way. The thing that must be stressed about Modios is that it is a tool to figure out the new way. It is not replacing the old way, it is the act of discovering the way it will be done.
THE PAY-OFF
Cordiance is not in the game because of fool-hardiness, it’s in the game because of courage. By automating the process of new ideas, both the clients and Cordiance itself discovers the “best practices” of old were simply the “better practices.” The new best practices are being developed actively, and they are coming. Modios is alone in the space because these challenges scare the other guys away, but with the help of Modios, we could stare a dragon in the eyes and still steal the treasure.
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