Does Your Team Commonly
Struggle with These Transfer Pricing Challenges?
Gaps in targeted profitability
Outdated and highly manual processes in static spreadsheets
Analyzing profit scenarios and implementing pricing changes
Unlike your current operational transfer pricing process...
Longview Transfer Pricing promotes total harmony between your profitability targets and actuals, internal processes, and external auditors. To achieve this, Longview Transfer Pricing provides the tools and P&L granularity required to monitor variances and make needed adjustments faster and more accurately. Doing so supports a strong tax position for your organization and avoids the need for risky year-end adjustments, thereby presenting your department as a valuable strategic partner rather than an operational cost center.
Avoid Year-End Surprises by Making Timely Adjustments
Rather than waiting until year-end to make large retroactive adjustments, take the reins and reduce your audit risk by proactively monitoring and adjusting prices throughout the year. Longview Transfer Pricing provides fully burdened P&Ls and up-to-date finance data to facilitate the timeliness, accuracy, and granularity you need to take decisive and strategic action.
Standardize and Automate Your Processes to Support Better Decision Making
With scalable data management capabilities that can organize and segment large volumes of data, harness Longview Transfer Pricing to create a single source of truth with higher quality assurance standards. Automated calculations reduce the need for manual data manipulation, freeing up more time for your organization to run segmented profitability analyses and model potential pricing changes.
Improve Stakeholder Relationships Through Better Reporting
Avoid unsettling year-end surprises for your internal stakeholders by circulating clear reports with actual profitability numbers as well as suggested changes. And, if the authorities ever come knocking, share your transparent and auditable trails with the utmost ease so you can keep focusing on the true work at hand: hitting your targeted profitability across the group.
Key Features of the Top-Rated Transfer Pricing Software
Improve analysis and decision-making processes:
- Access data from any existing financial or ERP application.
- Validate and manipulate data to support data-driven transfer pricing analysis.
- Track data to their source, improving transparency for internal and external oversight.
- Leverage non-financial data to improve decision-making processes and optimize transfer pricing.
Enable more intelligent financial reporting:
- Gather and pool cost amounts, and then calculate re-charges based on cost data.
- Identify all variables affecting each allocation.
- Link supporting information and documentation to each allocation for both internal and external review.
- Generate invoices or journal entries to document allocations in financial ledgers.
Gather and organize data for accurate profitability analysis:
- Segment P&Ls by business function, product, and other criteria.
- Define business rules to dictate segmentation.
- Use standard reports for financial forecasting and strategic decision-making processes.
- View data reports at various organizational levels, enabling granular analysis and enterprise-wide strategy.
Optimize your transfer pricing process:
- Define profitability ranges, including profit goals.
- Leverage data visibility to adjust your transfer pricing strategy quickly and with greater accuracy.
- Integrate pricing outcomes with ERP and finance applications, updating financial data and ensuring company data are prepared for an audit.
Ready to go beyond Tax & Compliance?
Longview Transfer Pricing is one of insightsoftware's unified, modular applications. Select the capabilities you need across budgeting & planning, controllership, and reporting to get more done with less risk by bringing all your insightsoftware applications together in one place.
Top Five Ways to Boost Operational Transfer Pricing Effectiveness
Empower your team with the tools they need to make potential auditable adjustments faster and with greater visibility.
This whitepaper will help you:
- Quickly and accurately collect and organize transfer pricing data
- Learn how to identify gaps in targeted profitability
- Make corrections before closing the books to ensure you are delivering on organizational goals
Automating the transfer pricing journal entries was extremely helpful. We particularly loved utilizing FX within our system, making calculations centrally, and then layering all adjustments onto the provisions. The automated processes and tight integration with our provision proved much more impactful than what we were able to do before.
Schedule a Live Demo to See
Longview Transfer Pricing in Action