Today, we proudly launch TP qube, a company dedicated to build simple, automatized and robust Transfer Pricing tools, at reduced costs.
This RegTech is the outcome of lengthy discussions with tax lawyers, corporates, tax authorities and academics. At a time when Artificial Intelligence is on the rise, most transfer pricing “routine” processes are outdated, relying on imprecise, subjective and time-consuming manual work. We intend to become a reference in producing automatized, high-quality Transfer Pricing solutions, allowing our clients and partners to concentrate on high-value added tasks.
Our first target are comparable company searches (or “benchmarks”), applied in transactional profit methods. These benchmarks are at the core of most transfer pricing analyses, and, yet, current processes are inadequate:
- The selection of comparable companies is a subjective process, subject to manipulation
- Current benchmarks simply ignore many factors that may influence the profitability of a company, such as its size, its geography, its maturity, etc.
- These benchmarks are not applicable in geographies and industries where the number of comparable companies is limited
- They are expensive
This is why, today, we launch our statistical benchmarking solution in beta version. Relying on thousands of independent companies’ financial information, we developed a brand-new algorithm to determine the arm’s length profitability of any related company, based on its most relevant characteristics. Our solution enables us to eliminate time-consuming processes, while allowing us at the same time to better understand profitability dynamics across countries and industries.
Next to this innovative solution, we also propose an offer of manual (classical) benchmarks. We streamlined the process of comparable company searches to propose more precise benchmarks, including the unique option to adjust comparable companies based on state-of-the-art statistical models. All this for 5 000 € per benchmark.
It is time for better, faster and more affordable solutions in transfer pricing.
Don’t you think?