Tax Advisory Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)Report

Tax Advisory Services Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

  • Published Date: Jan, 2024
  • Base Year for Estimate: 2022
  • Report ID: GVR-P-10573
  • Format: Electronic (PDF)
  • Historical Data: 2020 - 2021
  • Number of Pages: 60

The pricing and cost analysis helps in deriving and forecasting the actual cost of products or services over the forecast period. It considers all the cost components and provides a competitive edge during supplier negotiations. Moreover, the outcome helps procurement leaders understand detailed and fact-based cost drivers for the category.

In this Tax Advisory Services procurement intelligence report, we have estimated the key cost components which include consulting fee, technology costs, SG&A expenses, tax, and profit. Consulting fee can be bifurcated into salaries, benefits, overtime, cost of subcontractors, and other bonuses.

Tax advisory firms often use one of many pricing structures:

  • A prominent pricing structure used in tax advisory services is fixed-pricing structure, which guarantees that a service provider will receive the approved sum of money specified in the contract and have a predetermined, predictable pricing for the services indicated. Another type of pricing structure is based on time and materials, in which the price is decided by the staff costs and the amount of time needed to finish the task. This pricing structure is usually adopted when the time and resources required for a particular service cannot be realistically concluded beforehand.

  • An FTE-based pricing structure is also used in this category, where the service provider decides the pricing based on the headcount of resources working on the project. In addition, service providers in this category may also use value-based pricing, wherein the rates are decided based on the consumer’s perceived value of the service. For instance, performance-based pricing is a type of value-based pricing where the value is determined by performance metrics.

Few of the key services offered in this category by firms such as EY and Deloitte include tax planning, tax accounting, tax compliance, digital tax strategy, tax controversy management, cross-border tax advisory, inbound structuring, multi-country planning, audit assistance, indirect tax optimization, and diagnostic reviews. Tax managers in Deloitte are paid an average salary of USD 100,000 - USD 141,000 per year, and the same position in PwC commands an average salary of USD 102,000 - USD 151,000 per year. The average salary for tax managers in EY is USD 93,000 - USD 133,000 per year.

Every organization and its procurement team look forward to negotiating the best deal while procuring a set of products or subscribing to services. Rate benchmarking involves price/cost comparison of more than one set of products/services to analyze the most efficient combination that can potentially help the procurement team in getting the optimum rate.

The big four accounting firms namely Deloitte, KPMG, EY, and PwC charge an average price of USD 300 - USD 1300 per hour. Companies such as BDO and Grant Thorton charge an average rate of USD 200 - USD 900 per hour. Enterprises such as Crowe and BKD charge an average fee of USD 150 - USD 400 per hour.

The rates for tax advisory services are structured based the scope and location of engagement, type of pricing model, and whether ancillary services are being provided. In addition, the rates may vary based on the length on contract. Long-term contract agreements can be beneficial to both parties by providing stability, security, firm pricing structure, dedicated support, and stronger partnership.

To gain a comprehensive understanding of other aspects of rate benchmarking, please subscribe to our services and get access to the complete report.

Labor cost is one of the key components of the total incurred costs while offering a product or service. Therefore, an organization must decide on whether the focus category should be retained in-house or outsourced if the organization is providing its products or services at competitive prices. If the organization decides in favor of outsourcing, it must understand the difference in the salary structures of suppliers before selecting a supplier and formulating a negotiation strategy.

According to our research, Tax Managers working at Deloitte Touche Tohmatsu Limited and PricewaterhouseCoopers International Limited receive a 10% - 15% higher base salary compared to the salary received by Tax Managers working at Mazars Group and Moore Global Network Limited. However, the year-on-year increment rate in all these companies majorly depends on the Key Result Areas (KRAs).

Organizations may find it cumbersome to continuously track all the latest developments in their supplier landscape. Outsourcing the activities related to gathering intelligence allows organizations to focus on their core offerings. At this juncture, our newsletter service can help organizations stay updated with the latest developments and innovations and subsequently assist in preventing disruptions in the supply chain. We have identified the following developments within the Tax Advisory Services category over the last two years:

In December 2023, Ryan LLC announced the acquisition of Morrison & Head LP. This acquisition helped Ryan to expand its market presence and add a talented group of property tax professionals to its team. Furthermore, with this acquisition, Ryan was able to offer a complete suite of innovative tax services to a new client base and provide software solutions to enhance tax-saving opportunities.

In October 2023, KPMG International Limited announced the acquisition of Cloutier Longtin Inc. This acquisition helped KPMG to strengthen its presence in Canada by leveraging Cloutier Longtin’s high-quality services in taxation and accounting. The acquisition also strengthened KPMG’s ability to cater to the needs of entrepreneurs on the North Shore of Montreal, one of the firm’s strategic regions.

In November 2022, Baker Tilly US LLP announced the acquisition of True Partners Consulting LLC (TPC). This acquisition helped Baker Lilly to leverage TPC’s strengths in corporate tax for public and private enterprises. With this acquisition, Baker Lilly was able to strengthen its corporate tax division and gather a new capability in unclaimed property. Moreover, the acquisition expanded Baker Lilly’s presence in major markets across the US, such as Boston, Chicago, Dallas, and Los Angeles.

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Add-on Services

Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

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