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Financial administration
An accurate financial administration provides you with the information you need to take the right decisions. The big advantage of a digital financial administration is that it provides insight into your most important financial processes at any time, whether this is the invoices, salary payments or bank changes.
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Financial insight
You want to take the right decisions, based on trustworthy and clear management information. You want to have access to all your financial data, 24/7, in order to determine your position and be able to adjust where necessary.
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Global compliance partnering
Outsourced compliance services comprises the total financial compliance of your business, in accounting, financial reporting, payroll, legal and various tax reporting obligations. We can make sure you don’t have to worry.
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Business risk services
Minimize risk, maximize predictability, and execution Good insights help you look further ahead and adapt faster. Whether you require outsourced or co-procured internal audit services and expertise to address a specific technology, cyber or regulatory challenge, we provide a turnkey and reliable solution.
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Corporate finance
Finding a suitable match at the most optimum terms. That, in a nutshell, aptly describes the objective of mergers and acquisitions. To most businesses mergers or acquisitions are not standard daily practice. It is, however, for the professionals at Grant Thornton! Seeking their services will add value instantly.
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Cyber risk services
What should I be doing first if my data has been kidnapped? Have I taken the right precautions for protecting my data or am I putting too much effort into just one of the risks? And how do I quickly detect intruders on my network? Good questions! We help you to answer these questions.
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Impact House
Building sustainability and social impact. That sounds good. But how do you go about it in the complex world of stakeholders, regulations and frameworks and changing demands from clients and society? How do you deal with important issues such as climate change and biodiversity loss?
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Transaction services
What will the net proceeds be after the sale? How do I optimise the selling price of my business or the price of one of my business activities? How do I capitalise on synergies following an acquisition? Am I not offering too much? These are all good questions when you’re buying or selling a business. It’s a transaction that concerns significant amounts, impacts your future, and therefore must be executed properly. We provide a solid foundation for your decisions.
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Valuation, investigation & dispute services
Do you require a fact finding investigation to help assess irregularities? Is it necessary to ascertain facts for litigation purposes?
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Auditing of annual accounts
You are answerable to others, such as shareholders and other stakeholders, with regard to your financial affairs. Financial information must therefore be reliable. What is more, you want to know how far you are progressing towards achieving your goals and what risks may apply.
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IFRS services
Financial reporting in accordance with IFRS is a complex matter. Nowadays, an increasing number of international companies are becoming aware of the rules. But how do you apply them in practice?
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ISAE & SOC Reporting
Our ISAE & SOC Reporting services provide independent and objective reports on the design, implementation and operational effectiveness of controls at service organizations.
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Pre-audit services
Pre-audit services is all about making the company’s entire financial administration ready for checking before the external accountant begins his/her audit of the annual accounts.
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SOx law implementation
The SOx legislation dictates that management is structurally accountable for reporting on the internal control relevant to the financial statements.
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International corporate tax
The Netherlands’ tax regime is highly dynamic. Rules and the administrative courts raise new challenges in fiscal considerations on a nearly daily basis, both nationally and internationally.
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VAT advice
VAT is an exceptionally thorny issue, especially in major national and international activities. Filing cross-border returns, registering or making payments requires specialised knowledge. It is crucial to keep that knowledge up-to-date in order to respond to the dynamics of national and international legislation and regulation.
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Customs
Importing/exporting goods to or from the European Union involves navigating complicated customs formalities. Failure to comply with these requirements usually results in delays. In addition, an excessively high rate of taxation or customs valuation for imports can cost you money.
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HR services
Do your employees determine the success and growth of your organisation? And are you in need of specialists which you can ask your Human Resources (HR) related questions? Human Resources (HR) related questions? Our HR specialists will assist you in the areas of personnel and payroll administration, labour law and taxation relating to your personnel. We provide you with high-quality personnel and payroll administration, good HR guidance and the right (international) advice as standard. All this, of course, with a focus on the human dimension.
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Innovation & grants
Anyone who runs their own business sets themselves apart from the rest. Anyone who dares stick their neck out distinguishes themselves even more. That can be rather lucrative.
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Tax technology
Driven by tax technology, we help you with your (most important) tax risks. Identify and manage your risks and become in control!
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Transfer pricing
The increased attention for transfer pricing places greater demands on the internal organisation and on reporting.
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Sustainable tax
In this rapidly changing world, it is increasingly important to consider environmental impact (in accordance with ESG), instead of limiting considerations to financial incentives. Multinational companies should review and potentially reconsider their tax strategy due to the constantly evolving social standards
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Pillar Two
On 1 January 2024 the European Union will introduce a new tax law named “Pillar Two”. These new regulations will be applicable to groups with a turnover of more than EUR 750 million.
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Cryptocurrency and digital assets
In the past decade, the utilization of blockchain and its adoption of a distributed ledger have proven their capacity to revolutionize the financial sector, inspiring numerous initiatives from businesses and entrepreneurs.
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Expand into new markets
Do you seek for opportunities in the global business arena? Whether you are about to open a new office in a foreign country or considering an international acquisition, you need certainty of making the right choices for your company. Global expansion isn’t always as simple as it sounds. The good thing is that we’re here to help!
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Expanding your business in the Netherlands
International expansion is an important step. The Netherlands can be your gateway to Europe for doing business abroad. But why you should choose the Netherlands?
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Global contacts
Wherever you choose to do business, you want access to people with the best ideas and critical thinking that will enable you to grow your business at home and abroad.
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Corporate Law
From the general terms and conditions to the legal strategy, these matters need to be watertight. This provides assurance, and therefore peace of mind and room for growth. We will be pro-active and pragmatic in thinking along with you. We always like to look ahead and go the extra mile.
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Employment Law
Small company or large multinational: in any company your people are of the utmost importance for your business. Employment brings with it many issues in many areas and often has legal consequences. For big strategic, but also for more everyday questions about employment law, our lawyers are ready to help you out. Also for questions about international employment law. Do you have your own HR department? We’ll gladly assist them. We deliver bespoke services and are there when you need us.
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Specialist Areas
Besides our focus on corporate and employment law, we also advise entrepreneurs on a range of (specialist) legal issues. A corporate acquisition, your company administration, complex question in the field of healthcare issues: you have come to the right place.
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Maritime sector
How can you continue to be a global leader? The Netherlands depends on innovation. It is our high-quality knowledge which leads the maritime sector to be of world class.
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Growth in an international network
At Grant Thornton, you will benefit from the expertise and quality of colleagues around the world who will benefit your knowledge, advice and growth.
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Varied customer portfolio
The customer package at Grant Thornton varies from (large) SME customers to (small) corporate customers. From local customers to customers from the international network of Grant Thornton International Ltd. All this diversity in customers can also be recognized in your customer package.
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Culture
At Grant Thornton we combine a solid base with a flexible and results-driven mentality.
The mid-market already had a reputation for agility but the COVID crisis has forced leaders to take an even closer look at how their operations can be more responsive.
As they prepare for the future, businesses are taking stock of their existing operations and questioning whether they are fit for purpose. To remain relevant in unprecedented times, businesses must continually learn from their operations and environment, then quickly execute change whether it is product development, better customer experience or growing new markets.
According to Grant Thornton's IBR data, 46.2% of businesses said they would need to improve organisational flexibility after COVID-19. Meanwhile, 36.9% of respondents said they had started to plan for different scenarios for the scale-up of their company operations in preparation for recovery.
Tony Markwell, national managing partner private advisory at Grant Thornton Australia, says: "When I think about this moment, the businesses which will survive and bounce back the quickest are of course the ones who are most agile, the ones who are well structured, and able to grab opportunities as they protect themselves."
Review your supply chain, monitor risks and build contingencies
COVID-19 has exposed fault lines in global supply chains and, as we move into new phases, businesses are re-examining how their products get to market. Indeed, 31.6% of businesses said they would need to make use of alternative or underutilised sales and distribution channels after the crisis.
Building a resilient business requires close monitoring of your supply chain.
Jonathan Eaton, principal in advisory services Grant Thornton US, says: "Many companies were exposed and experienced supply chain disruptions as a result of COVID-19 for not having a supply chain risk management protocol. In some cases, supplier liquidity issues or supplier performance were the driver of disruption. A robust supply-chain risk management cadence based on mitigating the highest priority risks to achieve business continuity is essential.."
Businesses need to factor in an array of risks their suppliers may face, including financial, geopolitical, economic, trade, business disruption risks and Black Swan events.
Eaton says: "The first step is identifying possible failure modes or supply chain disruptions, and then analysing them prioritising those that are most likely to occur and that would have the worst impact on the business, it’s customers, and shareholders. To assist with this analysis, the best prepared businesses use supply chain risk management software and analytics. This software can review a company’s suppliers’ financial health, litigation profiles, employee relations issues or other indicators of a poorly run business, that could create risk.
Armed with intelligence, we can help businesses develop a plan to mitigate those risks. As best practice, we use data driven simulations and table top exercises with businesses to assess their preparedness and ensure they are focused on the right risks and supply chain disruptors."
Similarly, for businesses looking to scale up their operations, they can gain insight into how robust and resilient potential suppliers in the chain are, building confidence in their expansion plans.
The pandemic has also shaken up the global nature of supply chains, and some governments are favouring a shift to domestic production to provide greater security. Markwell says: "When COVID first hit and borders came down we saw a scramble to source products more locally because a long stretch supply chain had become more of a risk. The problem is, we've all got used to those long supply chains because they've been cost-effective, there's been a lot of ‘just in time’ delivery models worked through."
Based on their insight and analysis, businesses will have to weigh up the balance between the risks and benefits of offshore and onshore suppliers. Eaton says: "The best answer is to identify the scenario with the lowest risk profile that best aligns with the long-term business strategy for growth, while achieving optimal operational continuity, tax efficiency and financial results."
Look for efficiencies and flexibility in your operations
To build a COVID-resilient business, you've got to strip out the inefficiencies. This is particularly the case as companies plan for hybrid situations liking combining remote and in-office working practices or using physical or virtual presences.
With large portions of employees either working from home or doing more flexible working, businesses are finding new ways of managing their workspace and lowering their real-estate costs.
Ian Pascoe, CEO and managing partner Grant Thornton Thailand, says: "We moved to total flexible office space, what we call breathable space, where we have an arrangement with a coworking provider. We have a dedicated space and the rest of it we take it as and when we need it."
Rethinking the ways of working became a necessity during the lockdown. There will be important lessons to learn and implement for the future about how decisions are made and communicated, which may also involve changing to a flat, less bureaucratic management structure and the deployment of numerous agile teams.
Innovate to overcome the challenges in your market
Sukvinder Heyer, partner at Grant Thornton Australia, says: "Innovation is going to be the key to getting out of this COVID-led recession. We're seeing a lot of companies already innovating quite strongly – developing new products and processes and new ways of getting to the market”.
Resilience may mean reducing costs through innovation in your operations. Can low-value repeatable processes be automated? Can the cost of manufacture of your product be changed without changing its quality and price? Heyer says: "For some, disruption to the supply chain may mean having to make products using inputs that they might not otherwise have considered."
Creating a culture for innovation also requires dialogue between leaders and front-line employees to quickly find solutions that will benefit the business and their customers. Heyer adds: "We say to companies, play to your strengths. Think about where do you want to be and use innovation as the kick starter to get there."
Manage the data to manage demand and pricing
Data gives business leaders information to empower them, to change the business if the direction is not right; confirm when they're winning and alert them when they're not.
"You cannot rely on past practices where the salesmen come in and drop off the orders and hope that still works," says Markwell. Ordering systems, for example, shouldn't automatically re-order the same quantity of parts than before when the inventory reaches a certain level. "When you see that demand for that part has dropped, you'll think why didn't I look at the data that was available on my customer base before I placed that order? Businesses have that data, but they need to extract it in ways they can make sense of it."
Data will be vital to seize opportunities successfully. "For example, your competitor falls over, and you need to supply to its customers," Markwell explains. "Agile businesses know their operations well enough to price effectively and take advantage of the opportunity. They are the ones who'll adapt fastest. Those that come off worse might pick up new customers, but they won't price it right and will lose money on that big expansion because they didn't analyse the data."
"A lot of businesses have been working out of a hybrid model for the past ten years. They've got some technology inside their organisation, but they're still relying a lot on manual practices. The past six months have shown that you need to bring those two together in your organisation – whether you can see your people and customers or not – in a way that evolves to make sure you're meeting your objectives."
While shifting supply chains pose an ongoing risk to businesses, careful management can reduce those concerns as the pandemic has shown.
Agility has long been an admired characteristic of successful mid-market businesses. Now more than ever, those companies that are poised to innovate, adapt, analyse and protect their business will get ahead of the pack.
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