AT A GLANCE
Taxalytica TPS is a Workflow Automation and Compliance solution that automates the way your tax and corporate finance organizations create and manage your transfer pricing policy and leverage that data for forecasting, budgeting and profitability analysis. Determining allocations and charge backs across jurisdictions creates both a massive calculation and ERP ETL problem. Transfer pricing calculations are key in both the tax preparation process, and the profitability and cost management process. TPS automates the transfer pricing calculation process, while giving you a library of business rules that simplifies and standardizes the maintenance of your transfer pricing policy, giving your stakeholders an intuitive way to learn and adapt a very complex process that is dynamically evolving over time as jurisdictions regulate the global economy.
KEY BENEFITS OF THE PRODUCT
HOW DOES TPS WORK?
The intuitive User Interface of TPS, your transfer pricing specialist and her team will be to handle all requirements critical to the transfer pricing policy, and business rules that determine the charge backs, allocations, and mark-ups needed for the calculation. The system uses wizards to walk your tax team through the processes that define your transfer pricing policy, ultimately leading to the validated changes to transaction costs, along with actual policy documentation and reports that may be provided back to the individual jurisdictions. Your tax team is intuitively guided through the workflow in Figure 1 to give your tax teams the easiest navigation possible, leveraging a standardized process that is ubiquitous and persistent. We at Taxalytica know that tax teams change, calculation methods change, economic methods change, business rules change, regulations change, internal processes change, and corporations and legal entities change on a regular basis. The need to keep complex processes such as transfer pricing constant is critical. With Taxalytica TPS, your Transfer Pricing problems stay in one place, remaining constant through the constant state of changes.