TPGenie introduces the Upload External Benchmark feature, streamlining the process of importing and analysing transfer pricing benchmark data. This new tool facilitates a more efficient workflow by allowing users to easily upload their data extracts and select the relevant Excel tab for import. Next to the existing proprietary internal benchmarking databases, this new feature creates endless amount of opportunities for transfer pricing professionals who want to make use of third-party database providers, such as Orbis by Bureau Van Dijk or D&B.
The platform automatically matches Excel columns to our internal database, enabling the inclusion of financial data for arm’s length calculations. Once the data is imported, users are presented with an overview of the companies involved. As each entry is reviewed, TPGenie displays the calculated arm’s length range, assisting in the decision-making process.
Key Features:
- Integration with TPGenie Benchmarking AI: Leveraging TPGenie Benchmarking AI, users can achieve a 95% accuracy rate in automatically accepting or rejecting search results, thereby increasing efficiency and reliability.
- Automatically calculates arm’s length range and PLIs: The Upload External Benchmark feature automates time-intensive processes within your transfer pricing benchmark practice, replacing redundant and repetitive tasks.
- Automated benchmarking writeups: The tool is designed to improve turnaround times, ensuring consistency, quality, and providing comprehensive audit trails.
- Improved Data Interaction: The feature enhances user interaction with data through the display of websites, which are shown, translated, and highlighted on a single screen for easier analysis.
The Upload External Benchmark feature marks a significant advancement in transfer pricing benchmarking, offering a sophisticated solution that enhances efficiency, accuracy, and user experience.
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