Approach
BDO first got to know the company and its internal tax department through a tax function assessment. By building relationships with them and immersing BDO team members into the company, we could develop deeper insights into their total tax picture. We looked at everything — people, data, processes, and technologies — and helped develop a co-sourcing model that was tailored to their needs.
We did not make “cookie-cutter” recommendations. Instead, our team applied a total tax mindset to assess all aspects of the company’s tax function. Then, we developed strategic plans that helped their tax team become more efficient and embedded technology into the company’s processes.
For example, their internal tax team manages tax provision and reporting, providing source data to our team to handle compliance and return preparation. BDO runs the data through our standardized templates and workbooks that support complex calculations. As we conduct technical reviews of the company’s overall tax posture, we help identify new opportunities for tax savings. Our approach and recommendations remain highly responsive to the internal tax team while we continue looking for additional efficiencies and cost savings.
