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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.
Technology played a critical role in mitigating the impact of the virus. Whether helping employees to perform their jobs or providing a platform for fulfiling products and services, technology enabled new ways of doing business. However, looking to the future building resilience through digital transformation requires balancing short-term necessity with realising the long-term opportunity.
Few businesses can be in doubt that technology, digital transformation, and innovation are essential enablers of operational resilience. Now is a critical time to assess how far into the future your current technology programmes can take you.
Indeed, According to Grant Thornton's IBR data, 45.6% of global respondents said they would need to make more use of technology and digital transformation following the COVID crisis. At the same time, 78% of businesses intend to maintain or increase their levels of investment in technology over the next 12 months.
Reassess IT systems for capacity and security
Following rapid adoption of technology in the first phases of the crisis, it now pays to review what measures and systems were put in place and assess whether they are sustainable on a new scale and for new ways of working that allow secure and efficient operations.
Ian Pascoe, CEO and managing partner at Grant Thornton Thailand, says: "A lot of businesses have found their technology to be inadequate. So going back to revisit the basics and of how good your systems are is vital. For example, doing video calls are great, but you've got to make sure it all works and that your bandwidth is adequate."
Consider performing a remote hardware and software audit to ensure that workforces have the necessary tools to perform their jobs over an indefinite period. It’s also vital to stay on top of your IT security and continually assess any vulnerabilities the business might be exposed to through remote working.
Look to automation to execute routine tasks
One aspect of the crisis is the level of pressure staff have come under to fulfil specific routine processes from home while often juggling family commitments.
However, essential tasks still need to be completed and are often time-sensitive. Trevor Dunne, head of technology consulting at Grant Thornton in Belfast says: "This is where automation through robotics can help. Building automations in a few days can offer real value and allow you to remove pressure from staff. Furthermore, Robotic Process Automation (RPA) can deliver consistent service." Outsourcing the implementation of RPA can be a quick and affordable way of achieving productivity gains.
Take time to make the right technology investments
Pre-COVID some businesses may have needed convincing that certain technologies and digital upgrades were necessary, now digital transformation has moved from a desirable aspiration to an essential across the board. But in coming to that conclusion, businesses need to make investment decisions wisely.
Pallavi Bakhru, chartered accountant at Grant Thornton India in New Delhi, says: "When it comes to long-term impact decision, people want to know what is coming down the road. If you put a particular system in place today – such as digitising your entire indirect tax compliance – will it be contemporaneous two years down the line. Will it be compatible with the government's interface?"
"Businesses need to deliberate, but there is a lot of support and benchmarking available about what is best suited for you, for the price point of the investment that you want to make. It is interesting that while businesses are deliberating, they are not holding back on the investment. It is not a mindless embracing of technology; there is a lot of questioning and discussion and desire to know and understand things. But the hesitation that there was earlier on about whether a business should go down the tech route or not has gone, that is now a no-brainer."
Use technology to provide you with actionable data
Once transformed into usable information, data is a valuable asset in building resilience and retuning your business when matched with your scenario planning. Ensure that you have the right analytics, dashboards, report sets and data structures to help with decision-making.
Dunne says: "Data has always been critical to business success and keeping up to date with the changing environment. Regardless of the scenario you face, getting accurate reports of what is happening in your business is critical and will continue to be so well after this pandemic has passed."
Leaders need access to a range of indicators outside their business that will help them find and realise new opportunities, such as a rival facing financial difficulties that may be open to selling. Use sources such as customer insights, employee surveys, information from trade bodies or market analysts to help shape your understanding.
Stay vigilant around cybersecurity risks
The large number of employees likely to be working remotely in the future, will increase cyber-criminals’ attack surface – the opportunities to hack into businesses systems, as well as compromise individual employees - will increase. Cyber risks are continually evolving, and businesses face unprecedented security and compliance risks through data leaks as a result of remote working. Businesses must now ensure their cloud systems across and infrastructure are secure and that there is clarity as to who is responsible for securing and monitoring them.
Businesses should also implement privacy-by-design and data segmentation policies, so they have insight and control over who has access to data in both first- and third-party environments. They must also ensure suppliers of technology services meet basic security standards and that they have an understanding of the risks through the supply chain.
Lead technology change from the boardroom
The future opportunities associated with technology involve training, upskilling and acquiring the right talent, but that also requires a certain level of understanding and knowledge at board level.
head of human capital advisory at Grant Thornton, Channel Islands, says: "I think there's a skills gap in the tech space at board level. Take something like AI; it is not a new phenomenon, but when we look at why it hasn't been embraced or utilised to its full capacity, it's because there's been a lack of understanding at the top as to what AI could do.
"Those companies that can embrace technology and use it will strengthen their competitive advantage and will build resilience back into their balance sheets once more. But organisations that copy and paste what they've always done and leave IT to the IT team without putting it as a boardroom agenda will fall behind."
The emerging winners will be businesses that have adapted their technology capacity and vision most quickly in this period. Those with a clear sense of future opportunities as well as the risks technology mitigates are well-positioned to prosper in the new operating environment.
Speak to your local Grant Thornton expert to discuss where technology and digital can help build resilience in your operations or sign-up below to get our latest insights direct to your inbox.