Transfer Pricing Benchmarking AI
Transfer Pricing Benchmarking AI
Artificial Intelligence (A.I.) tools for speeding up your benchmarking process, crawling and translating company websites.
Introducing TPGenie’s AI tools, designed to elevate your benchmarking workflow seamlessly.
TPGenie Benchmark AI
Revolutionise your transfer pricing benchmarking with precision. Our AI-driven solution effortlessly converts and translates company websites into structured text, reducing manual workload through automatic comparisons with your tested party.
Benefit from insightful pattern analysis, gaining a deeper understanding of your search results. Precision is paramount with Benchmark AI, which automatically calculates arm’s length range for your PLIs.
Captures comprehensive data via website screenshot collection. State-of-the-art document templates which enable you to simplify the creation of automated benchmarking writeups.
This feature enables you to refine your search results with enhanced precision, focusing on comparing business activities across different entities. By inputting specific business activities and keywords, TPGenie will assess the relevance and comparability of search results within your defined scope.
You can use our Benchmark AI features to automatically crawl & retrieve detailed company information. You can achieve a 95% accuracy rate in automatically accepting or rejecting your search results with the use of TPGenie Benchmarking AI!
How to Use TPGenie Benchmark AI
- Check to fill missing company descriptions: the crawled websites will be summarised into company descriptions. Check the box to fill the summary when it is missing.
- Enter Activities to Compare: Specify the business activities you’re interested in comparing.
- Exclude Criteria: Mention any aspects you wish to exclude from the comparison, e.g., “R&D, Manufacturing” to narrow down the search effectively.
- Notification: Opt to receive an email notification once the system completes the refinement process.
Advantages of using AI over manual review of accepting and rejecting benchmarking search results
- Efficiency: AI can process and analyse vast datasets much faster than manual methods, significantly reducing the time needed for benchmarking.
- Accuracy: Through advanced algorithms, AI can minimise human error, ensuring more accurate matching and selection of comparables.
- Consistency: AI maintains uniform criteria for evaluating search results, leading to consistent outcomes across different projects or time periods.
- Scalability: AI systems can easily adjust to handle larger volumes of data or more complex transactions without a significant increase in resource allocation.
- Cost-effectiveness: Over time, the use of AI can lead to lower operational costs by automating routine tasks and freeing up human resources for more complex analysis.
- Dynamic learning: AI models, especially those based on machine learning, can improve over time, learning from each analysis to refine and enhance future searches.
- Customisation: AI systems can be tailored to specific industry standards or company requirements, improving the relevance of search results.
- Risk management: By providing detailed analytics and insights, AI can help identify potential risks and inconsistencies in the transfer pricing process, aiding in compliance and reporting.
- Global applicability: AI can easily adapt to different jurisdictions’ transfer pricing rules and guidelines, making it a versatile tool for multinational companies.