BDO’s Total Tax Approach Strengthened a Multinational Hospitality Company’s Tax Function

Top 3 Areas of Impact

40% reduction in the number of steps needed to complete tasks by introducing automation. 

Workpaper task completion decreased from 240-320 hours to eight hours annually.

Streamlining released funds needed for outsourcing and co-sourcing due to staffing shortages. 

Summary

Learn how BDO’s total tax approach provided new perspectives and methods that helped a multinational hospitality company with a high volume of work improve tax-related internal processes, identify new tax planning opportunities, and reduce dependence on manual, time-consuming, repetitive tasks. 

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Challenge

A multinational hospitality group faced complex tax situations on several fronts. The company consisted of more than 100 entities operating in over 50 countries, requiring compliance with a myriad tax regulations and a high volume of tax-related work. 

Certain manual methods of performing tasks further strained the company’s highly developed in-house tax team. Work was often repetitive and cumbersome due to a lack of automation, and the team often needed additional resources to complete its work in a timely manner.

Employee turnover and talent shortages also led to a lack of continuity in some tasks. In addition, keeping up with specialized or evolving areas of tax accounting pulled staff away from other critical duties.

Results

Our client’s situation demanded a comprehensive approach to tax management, considering how each project aligned with the company's tax life cycle. The collaborative nature of our working relationship has resulted in a smooth financial reporting process for the client.
TJ Nunez
Tax Principal, Income Tax Accounting