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Say goodbye to transfer pricing benchmarking woes. Discover AI-Driven
Benchmarking with ExactMatch!

Join us for our webinar “A Primer on Transfer Pricing” on October 3, 11 a.m.



Say goodbye to transfer pricing benchmarking woes. Discover AI-Driven
Benchmarking with ExactMatch!

Join us for our webinar “A Primer on Transfer Pricing” on October 3, 11 a.m.





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> > We have saved millions of dollars in taxes thanks to Exactera.
> > 
> > Read the full story
> > 
> > 
> > MANAGING TRANSFER PRICING COMPLIANCE IN A POST-BEPS WORLD
> > 
> > With entities in the U.S., Brazil, Puerto Rico, the U.K., and Australia, Red
> > Ventures is under the watchful eye of some of the most aggressive tax
> > authorities in the world. ”The majority of Red Ventures’ transactions
> > involve intellectual property and intercompany services—two of the most
> > highly scrutinized types of transfer pricing transactions,” said Ray Salort,
> > VP of Tax, Red Ventures. “We absolutely had to have consistent, detailed
> > documentation across all our jurisdictions, but we didn’t have this
> > available in any efficient or centralized manner.”
> > 
> > Originally, Red Ventures tried a couple of different methods to outsource
> > its transfer pricing documentation, including hiring a Big Four accounting
> > firm as well as hiring various local consultants. But they found the process
> > in each case was laboriously manual and haphazard, producing reports that
> > were not always consistent from jurisdiction to jurisdiction. Turnaround
> > time for reporting requests was also lengthy.
> > 
> > Red Ventures needed to streamline and centralize its transfer pricing
> > processes, produce more detailed, consistent documentation quickly and
> > efficiently across all jurisdictions, and organize reports so they’d have
> > studies to refer to from year to year.
> > 
> > Transforming Compliance into a Streamlined Operation Red Ventures has
> > intercompany transactions all over the world, which means transfer pricing
> > documentation has to meet unique local regulations in various jurisdictions.
> > The company decided to look for a solutions provider that could accommodate
> > their reporting needs across all their jurisdictions with the efficiency,
> > control, and accuracy they required. Exactera’s transfer pricing solution
> > was chosen because it enabled Red Ventures to centralize how they were able
> > to generate reports and construct a consistent approach to reporting for
> > each jurisdiction where they operated. Red Ventures was able to home in on
> > their intercompany transactions, identify new ones, and produce robust
> > documentation across the board, with equal or better accuracy, and more
> > cost-effectively compared to other methods.
> > 
> > 
> > GETTING MORE FOR LESS
> > 
> > “Aside from the capabilities of the solution, another deciding factor for us
> > in choosing Exactera was transparent, competitive pricing,” said Salort “Our
> > tax department could now generate more detailed reports, at a lower cost
> > than what we paid traditional consultants.” CrossBorder Solutions also made
> > benchmarking searches more cost-effective and faster by leveraging prior
> > years’ benchmarks instead of starting from scratch.
> > 
> > 
> > THE VALUE OF A HIGHLY COLLABORATIVE APPROACH
> > 
> > Exactera’s expertise made the process of transitioning from traditional
> > outsourcing to software easier and more simplified for Red Ventures.
> > Exactera made onboarding easy with straightforward questions, and since
> > deliverables were on schedule, it left enough time for our tax team to
> > review and make strategic decisions. “We had the same level of expertise as
> > we did at the Big Four—if not better,” said Salort. Exactera’s consultative
> > approach to the partnership with Red Ventures meant that there was a high
> > degree of collaboration, as well as responsive and professional
> > communication. Red Ventures could now proactively approach its transfer
> > pricing, which helped the tax department deliver greater business value.
> > Exactera’s team of economists provided consulting and education on how tax
> > authorities view transfer pricing documentation and how to think about
> > related-party arrangements. This allowed Red Ventures’ tax professionals to
> > identify intercompany transactions, value drivers, and intellectual property
> > resulting from those transactions.
> > 
> > Exactera was able to help Red Ventures identify areas of potential risk and
> > proactively address them. One example was how Red Ventures, could identify
> > service transactions that generated intellectual property in foreign
> > jurisdictions and could create legal licensing agreements and properly
> > allocate profits. The solution also took the guesswork out of benchmarking
> > searches by producing reliable comparable data, reducing the risk of audits
> > and adjustments, and enabling Red Ventures to maintain a better global tax
> > position.
> > 
> > 
> > INTEGRATING TAX INTO THE BUSINESS STRATEGY, DELIVERING BUSINESS VALUE WITH
> > EXACTERA
> > 
> > Red Ventures could tackle more than just transfer pricing
> > documentation—they’ve been able to incorporate tax into part of the
> > company’s business plan. “Working with Exactera connected us with the
> > business more,” says Salort. “The business folks know exactly what we’re
> > doing, and they understand the importance of it.”
> > 
> > By looking at the company holistically, Red Ventures was able to identify
> > and understand key value drivers and how to allocate profits based on that
> > value-add. Understanding how key functions make up the value chain also
> > enables the company to produce more detailed documentation. Red Ventures has
> > been able to apply a single, organic process to the entire group, base
> > transfer prices on reliable comparable data, and allocate profits in
> > advantageous jurisdictions, which saves money and adds to the company’s
> > bottom line. “We have saved millions of dollars in taxes thanks to
> > Exactera,” says Salort. “We’re extremely confident that we have
> > well-documented, accurate reports and that we’re in a stronger global tax
> > position thanks to our work with Exactera.”
> > 
> >  
> 
> Red Ventures
> Ray Salort, VP, Tax

> > Exactera's technology exceeds its competitors and offers a better product at
> > a better price.
> > 
> > Read the full story
> > 
> > With only a four-person tax department and global transfer pricing issues,
> > Dyno Nobel is no stranger to transfer pricing compliance consultants. But
> > why does outsourcing always seem to mean that you pay exorbitant fees for
> > services—and then work on their terms? It was time for a change. The company
> > enlisted Exactera to produce efficient reports, provide expertise, and free
> > up the lean tax department to focus on other priorities. The result? More
> > coverage, less work, and fewer costs.
> 
> Dyno Nobel
> Milan Crane, Tax Director/Risk Manager
> 67 % transfer pricing cost reduction

> > It reduced a lot of stress and gave me back so much time to be more
> > efficient in other areas.
> > 
> > Read the full story
> > 
> > Roseburg Forest Products needed to find an alternative approach to complex,
> > messy Excel spreadsheets and manual processes. They needed to maintain
> > ownership of the data but wanted to explore a more automated, software-based
> > approach. Choosing Exactera Tax Provision, the team was able to achieve
> > greater efficiency, ensure calculation accuracy, and shaved weeks off their
> > provision process timeframe.
> 
> Roseburg Forest Products
> Andrea Evans, Tax Manager

> > Exactera prepared thorough
> > documentation
> > and saved
> > time and money.
> > 
> > Read the full story
> > 
> > 
> > TRANSFER PRICING THROUGH MERGERS AND ACQUISITIONS
> > 
> > When a company experiences growth, it’s great for everyone—except maybe the
> > tax department. And if you happen to be a one-person tax department then a
> > business boom can be even more daunting—which is exactly the situation
> > Jaggaer’s Global Director of Tax Angela Griffin found herself in.
> > 
> > Before 2017, Jaggaer was a relatively simple U.S. company. But over the last
> > five years, the software giant has spilled into Italy, Austria, Australia,
> > Canada, Dubai, France, Germany, Italy, Saudi Arabia, Serbia, Mexico,
> > Netherlands, Singapore, Spain, and UK, to name just a few countries. As the
> > group grew more intricate, it bred a wild new maze of transfer pricing
> > arrangements. Each new entity had its own historical related-party
> > transactions, and now under one larger umbrella, the sister companies were
> > forging new ones–but with eyes on efficiency and quality-control, not
> > compliance.
> > 
> > For Griffin this meant a huge responsibility rest on her shoulders alone:
> > She had to track down each and every intercompany arrangement throughout the
> > conglomerate and make sure they were not only documented but that they were
> > detailed enough to stand up in a post-BEPS world. The Big Four might seem
> > like an obvious answer but like at most companies, the budget was tight.
> > 
> > Griffin found herself in a race against the clock. Many transactions hadn’t
> > been documented at all and she found a host of arrangements that hadn’t even
> > been identified as transfer pricing transactions. “I discovered we had cross
> > charges that we didn’t consider in our IP transfer pricing planning. We had
> > intercompany loan arrangements, various service type transactions ranging
> > from customer service, implementation, management type services and then we
> > realized we had other intercompany service transactions not previously
> > identified in any agreement,” she says.
> > 
> > COVID remote working combined with new mergers and acquisitions also created
> > a migrating workforce, especially in Europe. Teams that were previously in
> > Italy were transitioned to Serbia and were performing services from Serbia.
> > Teams from France had relocated to the Netherlands, and so on.  As new head
> > count was added the Serbia service center multiplied and grew exponentially.
> > However, outside the tax department, executives were oblivious that such
> > transfers would require new transfer pricing documentation. Griffin had to
> > educate executives and teammates about the tax implications of functions
> > moving through the supply chain and streamline the group’s approach to
> > transfer pricing from the ground up. And she had to work fast.
> > 
> >  
> > 
> > 
> > BUILDING A TEAM
> > 
> > The sheer volume of reports that Jaggaer had to produce was hardly a job for
> > a one-person tax department. Jaggaer needed an efficient, knowledgeable
> > transfer pricing team and found it at Exactera. “They are transfer pricing
> > experts and I loved their breadth of knowledge,” says Griffin. The cost was
> > also appealing. Instead of exorbitant hourly rates, Exactera charged a lump
> > sum for all of Jaggaer’s transfer pricing—even for new arrangements that
> > were identified along the way–so there were no hidden fees. “When we needed
> > additional benchmarking for new transactions Exactera was able to help
> > provide at no additional cost.”  Best of all, Griffin had an invested team
> > in place. “Exactera made efforts to know our company. The economists talked
> > through our transfer pricing planning and questioned it instead of just
> > accepting what we gave them. It was almost like a second review.”
> > 
> > 
> > COMPLIANCE IN A HURRY
> > 
> > The need to document so many intercompany arrangements accurately on unique,
> > tight deadlines called for automation. Exactera’s software is able to
> > streamline the process and get the job done quickly—transactions that
> > require fresh benchmarking searches can be completed in seconds. Their
> > unique software can identify and report documentation needed for compliance
> > quickly, and Exactera’s economic experts could advise on little-known
> > country-specific preferences. Jaggaer chose to utilize the Exactera team for
> > outsourced benchmarking and compliance documentation versus hands on and in
> > house usage of their software to ensure transactions are covered from every
> > angle.
> > 
> > “We needed to ensure that the company has accurate, defendable positions
> > that are documented well in all countries where we had operations—and we
> > needed a comprehensive plan for the whole company,” Griffin says.
> > 
> >  
> > 
> > 
> > BUILDING BRIDGES
> > 
> > Deadlines and language barriers were also tricky. Each country had its own
> > deadline for documentation submission or completion, there were secret
> > preferences regarding transfer pricing methods, and tax terminology meant
> > one thing in country X and another in country Y. “The language barrier has
> > hindered communication and understanding of proper categorization,
> > especially for the various types of intercompany services. That’s how we get
> > incorrect markups that are not apparent until year end,” says Griffin, who
> > discovered having someone on the inside is very helpful.  “We’ve utilized
> > Exactera’s Italian specialists on formatting of the reports in Italy. When
> > we have unique transactions,E it helps to have someone who speaks Italian to
> > discuss the local requirements and comfort our local employees on the
> > accuracy of our reporting.”
> > 
> >  
> > 
> > 
> > EDUCATION AND EFFICIENCY
> > 
> > Griffin literally found herself working in uncharted territories—the
> > company’s operations were growing in many unfamiliar jurisdictions. She also
> > had to document transactions involving IP and intercompany services—two of
> > the most highly scrutinized transactions by tax authorities. The pressure
> > was on.
> > 
> > Exactera’s economic experts were able to advise on complex transactions and
> > identify those that would likely be under the microscope. Meanwhile, Griffin
> > was able to advance her own in-depth knowledge and earn CPE credits by
> > taking Exactera’s Transfer Pricing University. Other staff members–like
> > Jaggaer’s controller—joined her and benefited as well.
> > 
> > “It’s been a huge learning experience,” she says.
> > 
> > Certain transactions required fresh benchmarking searches, and Griffin,
> > usually a solo act, had a team with which to collaborate. “When we’ve had
> > issues that required benchmarking, we were able to ask a lot of questions
> > without incurring additional fees.” Together, the team decided on
> > “agreed-upon terminology,” a vocabulary lesson she was able to impart to
> > Jaggaer’s financial controllers to ensure the company was always on the same
> > page.
> > 
> > Exactera reached out to Jaggaer for information and then prepared
> > documentation for the entire group.  Griffin noted early conversations about
> > the company and each transaction are key. “They prepared thorough
> > documentation. Each report describes the parent’s relationship with the
> > entity and also includes a visual presentation, which is helpful,” says
> > Griffin. “Exactera loaded them onto the portal, and we just had to review
> > them.”
> > 
> > 
> > CONFIDENT COMPLIANCE
> > 
> > Exactera was able to help identify and produce documentation for the
> > continuously growing Jaggaer, so now, the company’s transfer pricing is in
> > compliance all over the world. Plus, Jaggaer has a process in place that
> > streamlines compliance and makes it a slick operation throughout the group.
> > 
> > Griffin feels much better about the company’s transfer pricing position. “I
> > feel more confident now that our transfer pricing documentation has been
> > prepared,” she says. “Exactera has saved me lots of time. I didn’t have the
> > experience or time to create these documents myself, especially in such a
> > short timeframe. Exactera helped us be compliant. Given our sudden growth,
> > we wouldn’t have been able to be compliant without tax technology.”
> > 
> > Had she gone with traditional consultants, the cost would have been
> > exorbitant. As Griffin said, “Exactera has given us a lot of bang for our
> > buck.”
> > 
> >  
> > 
> >  
> > 
> >  
> 
> Jaggaer
> Angela Griffin, Global Director of Tax

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