What does it entail?
At its core, operational Transfer Pricing is really about data management and analytics to facilitate TP policy compliance and consistency. In simple words, it is about the design of input forms, output reports and a workflow, irrespective whether an Excel and email-based, or automated process.
One of the benefits of automation is that all platform software solutions include dashboard capability which enable clear visualization of the project management information and tracking throughout the entire process, as well as financial results from the. Thus, designed to keep the focus on your tax Key Performance Indicators (KPIs), driving quick and accurate decision making together with your internal stakeholders.
What can you gain?
We can help you with the design and configuring your business process to ensure that you are set to monitor in the right way your profits within your organization.
Automatic segmented TP reporting to test Transfer Pricing compliance on a “per transaction” basis.
Forecasting & Simulation
Modelling and simulating scenarios to drive better decisions
Continuous monitoring of the effectiveness of group Price Setting policies
Continuously managing transfer prices through periodic analysis, and make corrections before the books close
The benefits of Choosing Automation
1) Automating operational transfer pricing will give you a single source of truth for TP-related data, information and reporting.
2) Significant reduction of the time to gather, prepare information and perform calculations, down to “the push of a button”.
3) Reduced losses and risks through early periodic corrections throughout the year, instead of year-end or retrospective adjustments.
4) Improved global collaboration between the Finance and Tax functions through intelligent digital workflows.