Bureau van Dijk Adds Document Management to its Transfer Pricing Solution
TP Catalyst Document Manager will ease reporting burden for corporates affected by BEPS
Bureau van Dijk (BvD), the leading provider of company information, has created a new documentation workflow tool to streamline report-preparation, management and compliance in relation to the new BEPS and country-by-country (CbC) reporting requirements. This new solution is called Document Manager and is in addition to BvD’s existing TP Catalyst Benchmarking offering. It will be launched at the Global Transfer Pricing Forum on 24 September in Washington DC.
TP Catalyst Document Manager has been developed to help customers with the additional reporting requirements resulting from the OECD BEPS project and is a full document management system. The user uploads their functional analysis, legal structure, benchmarks and financials into Document Manager. The right data points are then automatically pulled into the right place so creating an array of documents becomes a simple process. These include the Master File, CbC reports and Local Files. Local legislation is integrated to help with local reporting.
BvD’s existing TP Catalyst, and well-known company databases (Orbis, Amadeus, Osiris), can assist with both benchmarking and companies’ financial data if the user requires. Alternatively the Document Manager can be used as a standalone solution.
“Document Manager saves time and resources,” according to Luis Carrillo, BvD’s head of transfer pricing solutions. “It streamlines report production, and even includes workflow options, to make document creation and management processes as quick and simple as possible. Users will be able to create TP documentation very quickly and react to document creation needs as soon as they occur. Document Manager is the ideal tool to monitor global operations against arm’s length benchmarks, plus it stores, centralises and archives TP documents.”