For many of them, tax co-sourcing - using a mix of a company’s own employees and those of an external service provider—becomes a key method for meeting their many tax compliance, planning, reporting, and audit requirements. And the place many of them turn for assistance is KPMG LLP.
Working with our Tax Co-sourcing professionals, companies can reap the dual benefits of strategically leveraging KPMG’s investment in its tax skills, processes, and technology while containing costs – paying only for the services when and where they are required. This turns the fixed costs of maintaining internal headcount into a scalable model of tapping into KPMG which can free up valuable in-house resources to focus and deliver business support and long-term strategic initiatives, while still meeting current compliance obligations.
Among the ways KPMG professionals can help companies are:
- Determining the feasibility of co-sourcing and developing a vision which clearly defines the organization’s objectives and requirements
- Identifying current core competencies and comparing them to the vision to determine where the tax function can gain a competitive advantage
- Evaluating opportunities through a cost/benefit analysis for each process or sub-process
- Selecting a resource model that allows for cost savings while still meeting the company’s objectives
In addition, KPMG’s approach can help provide lasting value to our clients’ tax functions in the areas of:
- Assessment – We evaluate key considerations such as costs, benefits, constraints, and risks as part the assessment process.
- Delivery skills – We provide a locally managed team of qualified tax resources with a single point of contact who will manage the overall relationship and services.
- Transformation – Tax process and technology professionals work throughout the project to design and enhance tax processes.
- Technology-enabled Process - We integrate our compliance toolset in a workflow designed to help reduce manual steps and risk.