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Your Challenges
Due to globalisation, declining trade barriers and an increasingly mobile workforce, the transportation and logistics industry continues to enjoy above average growth. By expanding their service offerings both upstream and downstream, transportation companies and logistics service providers are also becoming masters of their supply chain, both forward and backward.
Growth through acquisitions, joint ventures and alliances are reshaping the dynamic industry. Under these conditions, new corporate strategies and processes are required.
Transportation and Logistics challenges:
- Maximising revenues
- Meeting international financial reporting standards requirements
- Managing tax risks
- Managing fraud
- Mergers and acquisitions as facilitator of industry restructuring
- Opportunities in the emerging markets
- Financing transport infrastructure and public private partnerships
Meeting Your Needs
In these times of change, what’s required of transportation and logistics enterprises? Financial transparency, sound risk management processes and state-of-the-art technology. PwC transportation and logistics experts can provide assistance on these matters and more including ways to enable work-wide alliances and quality partnerships between your company and others.
Maximising revenues
Transportation and logistics companies face significant challenges in recording and collecting all of the revenue to which they are entitled. PwC works with transportation and logistics companies to implement new sales management processes that eliminate service delivery at below-margin price points and metrics that prevent sales teams from receiving commissions for unprofitable sales.
Meeting International Financial Reporting Standards Requirements
In many countries around the world, listed companies must adopt International Financial Reporting Standards (IFRS) for their group financial statements. Going forward, IFRS reporting will be a vital passport to the world’s capital markets. PwC has a broad range of tools and publications combined with the necessary industry experience to help transportation and logistics companies apply IFRS.
Managing tax risks
A company’s approach to tax strategy and risk management has an important impact on its perceived value and should be a key area of focus for any company concerned about maintaining its reputation. PwC works with transportation and logistics companies’ Board, CFO and Tax Director to establish clarity around the company’s tax risk profile, develop an enterprise-wide tax strategy and tax policies, and design a tax risk management model.
Our approach has numerous advantages:
- Value for the company and its shareholders is enhanced by combining an optimised tax strategy with reputation protection
- The tax risk management function is organised efficiently
- Responsibilities for risk identification, analysis and assessment are clearly allocated;
- Consistent risk monitoring is assured;
- Adverse trends are recognised early, allowing action before the loss occurs.
Managing tax fraud
PwC works with transportation and logistics companies to develop an anti-fraud programme and implementation plan to document activities and prove compliance with regulations. Our five-step plan involves:
- Establishing a base line
- Conducting a fraud risk assessment
- Evaluating and testing design and operating effectiveness
- Assigning internal audit or project team to address residual risks
- Standardising process for incident investigation and remediation
Mergers and acquisitions
The sector is characterised by a significant level of privatisation, finance-raising and merger and acquisition activity (M&A). Transactions are often complex and impacted by the regulatory environment, competition issues, or need for contracted subsidies to support operations. With our industry know-how and specialist skill-sets, PwC is well placed to assist transportation and logistics companies across the deal continuum through assessing and maximising the return on transactions.
Opportunities in emerging markets
PwC has developed a methodology that can help Logistics Service Providers to enhance their value proposition to clients. PwC transactions, performance improvement and crisis management specialists combined with industry experts in transportation and logistics provide clients with unsurpassed experience and knowledge to help them operate successfully in emerging markets.
Financing Transport infrastructure and public private partnerships
Public Private Partnerships (PPPs) enable the public sector to get better value for money by transferring risk (eg of cost overruns) to those with the best expertise for managing it. PwC offers a comprehensive service: advising on procurement, financial structuring, designing performance payment regimes, tax, accounting and human resource issues.
Our Experience
Major port operator - Due diligence
PwC was appointed as the advisor in the client’s acquisition deal. As there was no data established, we had to collate information from various sources around the world, including PwC offices worldwide. Despite this challenge coupled with the tight timeline, we were able to provide valuable insights to assist the client in evaluating the deal. In addition, we also assisted the client in evaluating the appropriate tax structure to adopt, as it involved a cross-border situation.
Global maritime company - Cross-border IPO exercises
The client specialises in energy transportation and offshore activities. We assisted the client in two IPO exercises, as well as other fund raising activities where we acted as reporting auditors. As these are cross-border assignments, we coordinated with other PwC firms to assist the client in managing the complex process.
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