One powerful system to handle all their transfer pricing needs.
Coperitas to help scaling
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Business Case
Combining Coperitas with consultants
Industry: Animal and food | Revenue: 10 bn
From expensive outsourced documentation to an affordable in-house process. A story of a cost efficient solution using the Coperitas document creator. What is their story and how did this happen? You can read it down here!
About the client
This is the story of a Dutch animal and food company that found its way to us through a business partner. Together with our team at Coperitas, they took the step towards a sustainable in-house TP process.
With a small tax team and limited transfer pricing (TP) experience, they needed a way to handle TP documentation without only relying on expensive advisors year after year. Cost savings were their main driver at first, but they soon realized that the affordable price wasn’t the only benefit of Coperitas. We showed them how technology could replace yearly outsourcing without sacrificing quality.
The challenge of outsourcing
They were happy with their tax advisor but found the yearly documentation update costs too high. Ideally, they wanted to bring the process in-house with a centralized system. Unfortunately they lacked the internal expertise to make it work and hiring advisors every year wasn’t in the budget. At this point, they turned to Coperitas for a scalable and affordable alternative.
Budget constraints are a common challenge for many of our smaller clients, but with Coperitas, that challenge disappears. And as for the lack of knowledge? A few training sessions were all it took to get them up to speed. Through targeted onboarding and training sessions, we ensured their team quickly gained the confidence to work independently.
Common goals
Their goals were like many others: after the first setup of documentation created by their trusted TP advisor, they wanted to handle future roll forwards in-house. So they needed a single system for transfer pricing that was both effective and affordable.
After aligning on priorities, here’s what we set out to achieve:
- First Objective: One system to handle transfer pricing, calculations, documentation creation, and storage. All in one place.
- Second Objective: A cost-efficient solution without compromising the quality they were used to.
- Third Objective: Automatic upload and reporting of bulk data in the format they’re familiar with.
Our approach
Our team picked up right where the consultants left off. We simplified the existing documentation and integrated this into Coperitas. There was no need to redo work, saving both time and money.
Next, we created a bulk upload mechanism to uploaded all financial data so the system had everything it needed for automation. And we didn’t stop there. We continue to support them with yearly on-site training sessions to refresh their knowledge, ensure they stayed up to speed with Coperitas, and introduce them to any new features or updates.
Result
With every user in the company and the CFO happy, we are proud to say that we delivered exactly what they needed. Here’s what we accomplished together:
- All-in-one system: One powerful system to handle all their transfer pricing needs. From intercompany margin calculations to creating documentation without requiring deep transfer pricing expertise.
- Cost-efficient: By combining our software with the expertise of our consulting partner, they significantly reduced costs while maintaining the same high quality.
- Tailored to their needs: With a few custom tweaks, the system fit their way of working perfectly, so seamlessly that switching over took less than two hours of training.
Together with the team and our client, we transformed a costly outsourced process into a smart, efficient in-house solution.
Do you want to move from expensive outsourcing to a cost-efficient in-house transfer pricing process? Get in contact with us and discover how Coperitas can help you achieve the same results.
