Inadequate or insufficient reporting management
Whether your reporting options are obsolete, or they just don’t correspond to your needs, lengthy reporting preparation and control is what complicates the work of many financial directors. However, incomplete data, overloaded reports and lengthy manual data input can be solved..
Information flows are slow and they complicate your decision-making
Most frequently, information flows are slowed down by statutory reporting of divisions and branches and an excessive amount of documents, files and tables. CFOs often have to waste time by complex reporting of financial and non-financial data.
You cannot trust your own financial data
Manual data input and other non-standard processes are always the risk. Moreover, if you use separate and non-updated systems, or your reporting tools are not reliable enough, it is impossible to build trust in your financial data, graphs and accounts..
You want to see a higher added value to your work
Time spent by creating accounts, your team members’ lack of knowledge, lack of trust – all these factors have one thing in common. They take the CFOs time that could be used by strategic decision-making instead. Let’s change that.
The world of finance is changing and the role of financiers with it. It's time to put tedious manual data entry into the hands of automation. Change reporting to be more efficient, easier to read and easier to prepare. Use all available means to more accurately predict your own business development and market. So what will be the role of financiers? More strategic, focused on the areas that the company needs the most - changing business models, finding new talent, transformation and above all real results.
Technological changes in companies are becoming urgent and those who are ready will be more successful at handling the undexpected crises as well as other challenges. However, successful transformation is mainly about combining new technologies with a change of thinking and a sufficient infusion of digital education among financial teams. From my own experience, this will be a much greater challenge for many companies.
I perceive transformation of finance of future as a great task and, at the same time, as a great opportunity. Companies using cloud solutions, RPA, data analytics, and artificial intelligence efficiently will have a competitive advantage. Moreover, a modern financial director will be expected not only to react to changes of the environment, but also to provide a well-founded forecast of business development.
Managerial controlling and reporting. Comprehensive and significant part of CFOs’ job as well as the greatest weakness of financial processes. Are these issues imperfect even at your company? Try our Maturity Assessment and find out how your are doing in the area of digitalisation of your financial processes comparing to your competitors.
Tools for transfer pricing management
Are the interest rates applied to your intra-group loans or cash pool operations in line with the arm's length principle? Do you want to know the market debt ratio for your subsidiaries? We will help you evaluate your group's financial steps based on a combination of data from S&P Compustat, S&P Capital IQ, Refinitive Deals Scan and Eikon and Bloomberg.
VAT spectrum
Don’t waste time by preparing VAT reports. VAT Spectrum serves for the preparation of VAT declarations and associated mandatory reports with the newly implemented function of control report preparation. It enables uploading data from the existing company information system or other external sources, it is secured by various control systems and performs even the logical data controls, including outputs and correction possibilities. Outputs are generated using a structure prescribed by the public administration.
Unreliable VAT payer
All you need is to pay to the supplier, recorded by the financial administration as an unreliable payer, and you become the guarantor of VAT that must be paid to the state budget. Do you want to be sure that your suppliers fulfil all their obligations? The team of PwC Tax and Legal Services will make a collective screening of your suppliers and the validity of their VAT registration and it will also identify any unreliable payers, compare the published bank accounts with the accounts recorded in your system, and it will advise you how to avoid becoming a VAT guarantor.
GDPR automation - S4
A common challenge associated with the GDPR is the implementation of technical measures, especially with respect to the erasure and keeping track of the storage period, as 61% of companies have not fully implemented these measures since the entire implementation of the GDPR in May 2018. The tool S4-DPO will help you with the processing, control and automation of the process.
