Sign In

Stevi Frooninckx

COO & Co-Founder at Loctax

Stevi Frooninckx is the CEO and Chief Tax Officer & Co-founder of Loctax, a company he helped establish in 2020.12 With a background in tax and finance, Frooninckx has held several leadership positions within Loctax:

  • CEO / Chief Tax Officer & Co-Founder (May 2023 - Present)
  • Chief Tax Officer & Co-Founder (September 2022 - May 2023)
  • COO & Co-Founder (April 2020 - September 2022)1

Prior to founding Loctax, Frooninckx gained extensive experience in the tax field, working for companies such as SCR-SIBELCO, Avnet, and AVEVE.1 He holds a Master's degree in Economic Sciences from Odisee and a Master's in Tax from KU Leuven.1

Loctax, under Frooninckx's leadership, has developed a collaborative tax governance platform for global in-house tax teams, helping organizations manage their tax compliance, projects, audits, and transfer pricing.12 The company has raised $15.6 million in funding, including a $12 million Series A round in September 2022.2

Frooninckx is passionate about transforming tax management through technology and helping organizations navigate the complex global tax landscape.1

Highlights

Sep 4 · linkedin

I was chatting with a customer yesterday, and they asked about handling tax compliance for hundreds of legal entities with a small team. Here's the advice I shared:

Many companies grapple with this issue – you are not alone! The old-school approach often involves multiple Excel spreadsheets, manual data entry, and a constant struggle to keep up with deadlines and changes.

The secret is shifting from a disorganized way of working to a more streamlined, centralized method. Think about using a platform that:

  1. Acts as a single source of truth for all entity data
  2. Automates workflow management
  3. Centralizes document storage and retrieval
  4. Creates real-time compliance dashboards

This strategy can greatly cut down on manual work, lower the risk of missing deadlines, and give better oversight across the whole organization. It also helps small teams manage a large number of entities more efficiently, without necessarily needing to hire more people.

Keep in mind, that the aim is to free up your tax team's time from administrative tasks so they can focus on more strategic, value-adding work.

Aug 30 · linkedin

Every week I hear tax leaders complain about not getting the resources they need. Their team is chronically understaffed. The budget is way too tight. And the toolbox is fairly empty. But sadly enough, year-over-year, the amount of tax obligations goes up. The regulatory change is increasing the pressure. The risk and controversy exposure is at an all-time high. And if that’s not enough, the business requires tax support on a daily basis.

Here are 5 tips to have a fruitful budget discussion with your CFO:

  1. The CFO looks at 2 things: cash and risk. Focus on the business case. Focus on the RoI. Keep it short.

  2. Double down on a healthy level of tax-awareness in your organization. Earn that seat at the table. Get rid of the dogma that tax is “below the line”. Directly link tax to business success. Value protection vs value creation (Tom Borec)

  3. Every CFO wants to transform and digitize. Every CFO! Explain the need for the transformation of the tax function. Provide context. Explain the cost of doing nothing, or postponing transforming the tax function.

  4. Start small, start today. Cut the transformation journey in pieces, based on a plan. Explain what’s in it for all stakeholders involved, including e.g. local finance people. Anticipate on any change management requirements. The CFO will appreciate that.

  5. Speak the language of the CFO. Drop the jargon. Put yourself in her shoes.

Related Questions

What inspired Stevi Frooninckx to co-found Loctax?
How does Loctax's platform differ from other tax compliance solutions?
What are the main challenges Stevi Frooninckx has faced in developing Loctax?
How has Stevi Frooninckx's experience at SCR-SIBELCO influenced his work at Loctax?
What are the key features of Loctax's GRC platform?
Stevi Frooninckx
Stevi Frooninckx, photo 1
Stevi Frooninckx, photo 2
Add to my network

Location

Tremelo, Flemish Region, Belgium