A single person can handle the transfer pricing compliance burden with Coperitas.
Coperitas to help scaling
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Business Case
Coperitas for small teams
Industry: Travel & Tourism | No of countries active: 30 | Revenue: 1B+
A story of how we at Coperitas helped a small team create a smooth transfer pricing process using our Document Creator. Curious how we approached this and what we achieved together? You can read the full story below!
About the company
This client is a global player in the Travel & Tourism sector, headquartered in the Netherlands. They specialize in helping businesses optimize their travel strategies.
Their challenges
The main challenge of this organization was managing their transfer pricing documentation. With a small tax team and a single person for transfer pricing, the process of annually preparing over 40 documents for 30 countries with different regulations became overwhelming. By implementing our solution, we reduced the time spent on this huge task from three months to just three weeks. Not only that but it is also just to much for a single person to handle and to depend upon. This situation was made even more clear during periods of absence. That’s when we stepped in to structurally reduce that work pressure.
Setting goals
In short, our goal was to make the work manageable for a single person. To achieve this we had to simplify and optimize their transfer pricing documentation process without spending a ton of money outsourcing the whole process to consultants. Together with the client, we defined the following goals:
- Primary Objective: Make the work manageable for a single person by removing repetitive and time consuming tasks.
- Secondary Objective: Ensure continuity of the work even when the person in question is absent.
- Third Objective: Enable to comply with new TP compliance obligations and wishes quickly, like ATAD II and multiple Master Files.
Our Approach
Our Coperitas Document Creator formed the backbone of the entire solution. From the start, we knew the solution needed to be simple and efficient. Overcomplicating things would have completely worked against our goal. Here’s how we approached it:
- Day one benefits
We took direct action in helping them from day one with all the data that was already available. Doing this, we made sure the work load was reduced from the very first day.
- Consistency analysis
We created a transaction matrix to identify whether changes where necessary to the local file templates in order to maintain consistency.
- Fully client branded
All automated output was directly styled in company brand. Whenever their trusted advisor was involved, the output was automatically styled to the Big Four brand.
- Review
Before finalizing the documentation, we delivered all documents in a neat and structured way to the tax manager for review and feedback.
- Workflow
After completing all previous steps, we built a continuous workflow that ensured the tax manager always had the support she needed.
By embedding the full end-to-end TP documentation process into Coperitas, including a clear step-by-step manual, we could even take the work out of their hands completely when required. Even during an unforeseen absence of the tax manager we were able to help out and continue delivering the TP documentation.
What we accomplished together
With a small team and the right software, our client now has everything they need to keep transfer pricing running smoothly. Here are some of the key results:
- Manageable: We made sure that even a single person could confidently handle their transfer pricing compliance burden by collaborating closely with the Coperitas team.
- Continuity: By embedding their process into Coperitas, we could make sure that even in absence the show could go on. No more coming back from a break feeling like you never took one.
- Clarity : Even with 30 countries to manage we made sure that they had a simple overview of all the info they needed. There was no longer a need to look around for scattered information.
Their opinion
They voiced satisfaction with Coperitas’ user-friendliness and the support the Coperitas team provided. The Head of Tax appreciated the efficiency and continuity and recommended continuing the partnership, showing the effectiveness of our solution over other options. The tax manager appreciates the support we deliver minimizing her time spend on TP compliance. This trust confirms how well our approach aligns with their requirements and demonstrates the success of this collaboration.
The conclusion
Together with the team, we at Coperitas transformed a complex and time-consuming transfer pricing process into a streamlined, scalable and future-proof workflow. By combining smart automation with hands-on support, we ensured continuity, clarity and full compliance, even with a small internal team.
Do you have the same goals as this organization? Get in contact with us and discover how Coperitas can simplify your transfer pricing process.
