Companies facing BEPS (Base Erosion Profit Shifting) and CbCR (Country by Country Reporting) seem to be getting a lot of attention from software vendors at the moment.
But what if you have always had challenges in your transfer pricing management; feeling left out? Major software suppliers only seem to be developing solutions to meet the new OECD rules that affect the big customers, so unless you turn over Euro750M you may as well feel you are being overlooked...
Developing the OticoTPController solution wasn't in a rush to capitalise on the new OECD guidance and to create "another product to sell to you". It stemmed from a multinational needing a solution to manage the many hundreds of different transfer pricing related documents in their business and no viable solution being available.
This company's problem was not unique; no standard approach to the storage / filing of transfer pricing related documentation, they had a variety of document types and formats created by different advisers across multiple jurisdictions and no self-service ability for remote users. The IT brigade will say "Buy a Document Management system!". You could, but it can only offer so much. To a business focusing on tax and transfer pricing issues, the next logical step is incorporating financial information and using that for planning, strategy & reporting - a document management system can't do that.
Otico developed TPController to combine elements from within document production, operational transfer pricing, workflow and reporting tools - including CbCR if required - it is a comprehensive, pragmatic, simple approach.
With the transfer pricing market made up of a wide range of company sizes some will need TPController's ability to manage 1,500+ entities with full CbCR, risk assessments, financial controls, the majority won't even come close.
Companies who don't need CbCR reporting i.e. turnover less than Euro750M, will directly benefit from standard features such as balanced scorecard risk assessments with user over-rides, user/document/tax control frameworks, entity controls and other features.
If CbCR does affect your business, the most common feedback is that the Otico approach is the best in the market. Remember, if a regulatory authority is going to look for audit targets, it's here. This is the Otico difference; a transfer pricing solution is designed by a team 'in the day to day trenches'.
If BEPS & CbCR isn't the transfer pricing problem facing you, don't worry, Otico still has the solution.