LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Tax Advisory Services Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the financial services industry. This report breaks down the data and analysis behind the procurement of tax advisory services and acts as an all-inclusive guide for making smart purchasing decisions.
"The demand for tax advisory services is on a constant rise as it helps organizations to optimize costs, ensure compliance with prevailing laws, and achieve financial goals," says SpendEdge procurement research analyst Suraj Kumar S. "Purchasing managers are increasingly relying on tax advisory services due to globalization of their operations leading to the need of expert advice on multi-jurisdictional laws," added Suraj.
Key Report Features
|Supply Market Insights||Negotiation Strategies|
|Procurement Best Practices||Category Risk Analysis|
|Cost Saving Opportunities||Key Supplier Analysis|
|Pricing Models||Supplier Capability Matrix|
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- Increasing globalization of companies across different geographies is leading to growing demand for tax advisory services. Players in this market must comply with taxation complexities pertaining to the regions in which they have an operational base.
- Tax advisories execute risk management methods across the entire tax life cycle, as different business models are prevalent across various geographic regions. Purchasing managers need to evaluate the abilities of advisories to analyze and understand the methods they follow in the current developing economic culture.
- With the rapid adoption of digitization, purchasing managers are required to have a suitable infrastructure that helps to maintain electronic audit trails. However, buyers might have legacy systems that may not support digitization requirements. This leads to challenges such as difficulty in data migration, outdated tax operating models, and inefficient processes for transforming data.
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Tax Advisory Services Pricing Trends
Hourly billing and retainer-based are the two widely implemented pricing models in the tax advisory service market. In an hourly billing model, the client has to pay only for the hours for which resources are utilized and has a high level of transparency.
According to SpendEdge procurement analysts, retainer-based pricing will gain popularity in the forecast period because of features such as it eliminates detailed scope planning and budget allocations and enables customization of activities.
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