Legal and Compliance Case Studies

Transfer Pricing Application

Transfer Pricing Application for an International Company

Client Profile

A multinational professional services firm with 700+ offices in 100+ countries.  The firm provides assurance, financial audit, tax and advisory consulting services.

Situation

This company had to appropriately price and document their intercompany transactions to comply with various countries‘ rules and legislation. This was important for managing tax risk.

Whether you choose to apply a globally centralized approach or a decentralized approach to your documentation needs, you need to understand the rigorous transfer pricing scrutiny in the countries where you operate. This is needed so that you meet the local requirements, particularly where there is heightened risk. This risk-based approach allows you to align your company‘s business and tax strategies with your risk profile.

The existing International Transfer Pricing application was an On-Prem client-server application that was not able to effectively support the global needs for research and analysis of transfer pricing data for large, global enterprise customers.

Solution

ThreeWill worked with this client to modernize the current International Transfer Pricing application.

This included:

  • Helping develop a structured and scalable framework for improving transfer pricing implementation
  • Building integrated systems and processes across tax, business units and operations

The solution was implemented using numerous Azure PaaS Services. This included leveraging Azure Service Bus, Azure Search, Azure BLOB storage, Azure SQL, Azure Cognitive Services (Translation) and more.

Business Benefits

  • Developed sustainable practices to execute, monitor and report intercompany transactions​ with a flexible approach
  • Enabled teams to work seamlessly together from offices around the world, responding quickly to your global and local needs​
  • Provided a single user interface across multiple larger international pricing data sources while respecting local data/content licensing requirements
  • Helped to streamline internal processes and generate reporting packages to support transfer pricing documentation requirements under BEPS Action 13​​
panasonic

Panasonic Trove Development Project

Client Profile

Panasonic is one of the largest product manufacturers in the world, comprised of 473 companies and employing over 260,000 people. They also own one of the world’s largest patent portfolios. And while some may still think of them merely as a consumer electronics company, they are a global provider of comprehensive solutions for businesses as well as consumers — solutions for your home, your work and when you travel.

Situation

Panasonic was using Salesforce with SpringCM for contract management and wanted to move to using SharePoint online. They were looking for a solution specific to SharePoint online and Microsoft 365 (not other products like Box, Dropbox, etc). They found Trove on the AppExchange and needed some critical customizations to enable key workflows.

Solution

Panasonic leveraged a free product from ThreeWill called Trove. The product worked well out of the box, but they needed a couple of customizations in order for it to work with their specific scenarios. We made those customizations at a reasonable cost. In addition to that, we helped migrate the content from SpringCM to SharePoint.

Business Benefits

Panasonic was able to save the annual reoccurring cost of the SpringCM license fee. This easily justified the cost of the project and will provide future savings as well. They also now get all the enterprise content management features that are a part of SharePoint, improving collaboration on the contracts with groups within Panasonic.

Integration with Service Cloud

Customer Support Site Integration with Service Cloud

Client Profile

Global information services company serves the legal, business, tax, accounting, finance, audit, risk, compliance, and healthcare markets. They operate in over 150 countries and have over 19K employees.

Situation

The client’s Service Excellence organization was planning to implement the Salesforce Service Cloud solution for their customers and Service Excellence and Sales teams.  The Service Cloud solution would provide new functionality for submitting, updating and viewing Customer Cases as well as provide a new Knowledge base to support all of the client’s call centers.  As a result of this new Service Cloud implementation, the site would need to be integrated with Service Cloud to support customers creating, updating and viewing of support Cases and to allow customers to search the new Service Cloud Knowledge base.

Solution

By leveraging the client’s Enterprise Service Bus (ESB) and the Service Cloud API’s, ThreeWill was able to provide employees and customers with access to Service Cloud Cases ands Knowledgebase via the Support Site.  This included supporting a phased rollout of Service Cloud which meant supporting different back-end service applications for Cases and Knowledgbase for each call center.

Business Benefits

The client now has a fully implemented and integrated Service Excellence platform, Salesforce Service Cloud integrated with the client’s Support Site, for their customers and employees.  This enabled the client to move to a cloud-based solution for their Service Excellence team, yet preserving the UX for the customer who accesses Cases and Knowledgebase information via the Support Portal.


Law

Corporate law (also “company” or “corporations” law) is the study of how shareholders, directors, employees, creditors, and other stakeholders such as consumers, the community and the environment interact with one another. Corporate law is a part of a broader companies law (or law of business associations). Other types of business associations can include partnerships (in the UK governed by the Partnership Act 1890), or trusts (like a pension fund), or companies limited by guarantee (like some community organizations or charities). Under corporate law, corporations of all sizes have separate legal personality, with limited or unlimited liability for its shareholders. Shareholders control the company through a board of directors which, in turn, typically delegates control of the corporation’s day-to-day operations to a full-time executive. Corporate law deals with firms that are incorporated or registered under the corporate or company law of a sovereign state or their subnational states. The four defining characteristics of the modern corporation are:

  • Separate legal personality of the corporation (access to tort and contract law in a manner similar to a person)
  • Limited liability of the shareholders (a shareholder’s personal liability is limited to the value of their shares in the corporation)
  • Shares (if the corporation is a public company, the shares are traded on a stock exchange)
  • Delegated management; the board of directors delegates day-to-day management of the company to executives

In many developed countries outside of the English speaking world, company boards are appointed as representatives of both shareholders and employees to “codetermine” company strategy. Corporate law is often divided into corporate governance (which concerns the various power relations within a corporation) and corporate finance (which concerns the rules on how capital is used).

Compliance

“Governance, Risk Management, and Compliance (GRC) are three pillars that work together for the purpose of assuring that an organization meets its objectives. … Governance is the combination of processes established and executed by the board of directors that are reflected in the organization’s structure and how it is managed and led toward achieving goals. Risk management is predicting and managing risks that could hinder the organization to achieve its objectives. Compliance with the company’s policies and procedures, laws and regulations, strong and efficient governance is considered key to an organization’s success.”

GRC is a discipline that aims to synchronize information and activity across governance, risk management and compliance in order to operate more efficiently, enable effective information sharing, more effectively report activities and avoid wasteful overlaps. Although interpreted differently in various organizations, GRC typically encompasses activities such as corporate governance, enterprise risk management (ERM) and corporate compliance with applicable laws and regulations.

Organizations reach a size where coordinated control over GRC activities is required to operate effectively. Each of these three disciplines creates information of value to the other two, and all three impact the same technologies, people, processes and information.

Substantial duplication of tasks evolves when governance, risk management and compliance are managed independently. Overlapping and duplicated GRC activities negatively impact both operational costs and GRC metrics. For example, each internal service might be audited and assessed by multiple groups on an annual basis, creating enormous cost and disconnected results. A disconnected GRC approach will also prevent an organization from providing real-time GRC executive reports. Like a badly planned transport system, every individual route will operate, but the network will lack the qualities that allow them to work together effectively.

If not integrated, if tackled in a traditional “silo” approach, most organizations must sustain unmanageable numbers of GRC-related requirements due to changes in technology, increasing data storage, market globalization and increased regulation.

Danny RyanLegal and Compliance