Since 2014 AkzoNobel is using TPGenie Enterprise.
Prior to implementing TPGenie we struggled to find a consistent and efficient approach to preparing local transfer files on a global basis. We were suffering from challenging processes to share and delegate the documents along with tasks. In addition, we incurred high costs for services provided by external consultants. Bearing in mind that the AkzoNobel group is performing activities in various regions, differentiated by scope of reporting obligations, coordination of the whole process was a key issue.
In AkzoNobel, we utilize the TPGenie Enterprise license along with the BEPS compliant Country-by-Country reporting module. Additionally, we deploy tailored adjustment options which include the intercompany agreement database and the data evaluation and currency conversion modules. Recently we started to use the translation module and the Transfer Pricing Guide.
TPGenie is a very user-friendly tool. From the user perspective each step is clear and easy to perform in the system. In the last stage of the process, we can generate the full package of (local) TP documentation, including all attachments: intercompany contracts, benchmarking studies, master files, etc. It’s very supportive during (tax) audits and controls.
Every year we prepare over a hundred of local files using TPGenie. This tool helps us to standardize our processes and increase efficiency while at the same time remaining compliant with (local) transfer pricing documentation requirements.
“We seek for further improvements of the overall transfer pricing documentation process in our organization. Our goal is to get proficient at resource efficiency and meet local transfer pricing documentation requirements. TPGenie supports us to achieve it.”
Transfer Pricing Lead
Transfer Pricing Manager
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Intra Pricing Solutions
Your guide in the world of Transfer Pricing
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