"Through automation, advanced technologies, and with the right expertise, our Managed Services model alleviates the workload for our clients, allowing them to focus on strategic growth with confidence."
“Managed Services”. Have we stumbled upon another one of those "impressive-sounding-but-not-really" corporate phrases?
Lucas Yuksel: Ha! Like we have access to some magical dictionary that makes simple things sound complicated, right? Ok, jokes aside: Managed Services is our approach whereby we assume responsibility for complete processes on behalf of multinational companies, ensuring accountability and alleviating the workload for our clients. With the strategic implementation of automation, standardization, and extensive business knowledge, we can deliver high-quality services while creating efficiencies for our clients.
Lucas, I’m hearing a lot of business jargon again! Can you explain it to me like I’m a complete agnostic, please?
Lucas Yuksel: Absolutely! We basically offer clients a solution that transcends traditional outsourcing by managing end-to-end finance, accounting, reporting, and tax processes. Unlike traditional outsourcing models, where relevant data and information are requested from clients for processing while the client keeps full responsibility, our approach involves assuming complete responsibility for the finance, accounting, and/or tax processes tailored to our client’s needs.
Imagine a popular restaurant where the chef, overwhelmed by the demands of creating delicious meals while managing the kitchen, decides to outsource the dessert preparation to a famous pastry chef. In this scenario, the restaurant represents the company, the chef symbolizes the internal tax department, and the pastry chef embodies the external tax outsourcing firm – in other words, KPMG! By entrusting the dessert-making to the skilled pastry chef, the restaurant can ensure that its sweet offerings – which, by the way, is my favorite part of the meal - are expertly crafted, leaving the chef free to focus on perfecting savory dishes and managing the kitchen operations effectively. Similarly, by outsourcing their tax function, a company can ensure that their tax-related tasks are handled efficiently by specialists, allowing their internal team to concentrate on core business activities and strategic initiatives.
And this is only possible thanks to our dedicated multidisciplinary team, capable of handling high-volume transactions across multiple jurisdictions!
Now we’re talking! So, what kind of tools are we offering clients who increasingly look externally for help with accounting, financial, and tax processes?
Lucas Yuksel: One of my favorite tools is called KPMG Digital Gateway - a comprehensive digital platform designed to help tax leaders adapt to the ever-changing requirements of their departments. Through this platform, clients can keep track of their compliance matters at different levels (i.e., global, regional, country or process) while also accessing both high level AND detailed information to facilitate decision-making. We get the impression that many companies today struggle to keep up to date with the constantly evolving tax landscape. Using the right technology and innovation allows tax departments to go beyond simply reacting to or keeping up with changing requirements. It allows them to embrace change and actively craft a distinguished tax narrative both internally within the organization and externally.
Built on the cloud, KPMG Digital Gateway provides tax leaders with one-stop access to technology-driven solutions, including the latest industry/country news and current thought leadership. Our aim is to collect, leverage, and maintain as much data as possible to give our users the highest value in the fewest clicks.
Can you give me a high-level summary of the key capabilities and potential benefits of the tool for C-levels?
Lucas Yuksel: Sure, but feel free to stop me if I get too technical! Our platform offers tailored technologies to provide a helicopter view, transforming data into actionable insights. For example, thanks to Digital Gateway users can very quickly see - using a world map - in which country they are compliant for the timely fulfilment of their statutory and tax obligations and in which country they’re not. They can also - with similar visuals at the click of a button - have a clear view of where their effective tax rate (i.e. the overall tax rate paid by a company on its earned income) is higher than the statutory tax rate (i.e. legally imposed tax rate) applicable in a country.
And what about the benefits for the “people on the ground”?
Lucas Yuksel: Where do I start? KPMG Digital Gateway provides an intuitive interface that enhances the cooperation between client teams and KPMG teams on the field by allowing them to keep track of agreed process milestones and legal due dates. Streamlined project and document management, optimized workflows, and enhanced planning tools ensuring smooth operations at every level are also a few other key features of our digital platform. Seamlessly managing global tax compliance and reporting, our solution empowers client teams to remain up to date with tax and legal developments with ease.
From your point of view, how is Managed Services helping to make a difference from a tax perspective?
Lucas Yuksel: This time, I’m going to keep it very short! We not only assume full ownership of tax processes from our clients, enabling them to focus on other aspects of their business, but we also work on enhancing their existing processes through standardization and automation. And that’s what sets us apart from the competition!
Evolution of Managed Services: Bridging Human Expertise with Technological Innovation
Enter the realm of Managed Services, where we take charge of our clients' processes and drive improvement through strategic automation and standardization. Join us on a journey through the evolution of Managed Services, from Tax to Advisory.
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