Check the highlights of 2019 in our TaxModel recap

Reading time: 5 minutes | December 19, 2019 | by Yael Remmers & Bart Kuijpers

Continuing our journey in software development, we are now steadily transitioning into a SaaS company. With a constantly growing team of specialists, we’re introducing Tax Software as a Service to tax advisory business. These are the highlights of 2019:


Excellent start of 2019

We started 2019 with the series A funding from Newion Investments. This enables us to grow from a thought leader to a product leader. We used the new funding to develop our platform further and to expand marketing & sales.” We are impressed by TaxModel’s vision and solutions. Hank Moonen and his team are unique in the combination of in-depth IT and tax knowledge. Customer reviews and market studies underline their growth potential,” says Frank Claassen, Managing Partner at Newion Investments.

 

Interviewed by Financial Management

In March, our CEO, Hank Moonen was interviewed by Financial Management about the advantages of automating transfer pricing. With our software solution TPbenchmark, we are able to teach tax young-professionals with zero-experience, in a short period of time, how to independently perform benchmarks.

 

Fortify your companies Transfer Pricing process

At the beginning of April, we launched our newest tool: TPdoc. After a couple of months preparations, developing and testing preceded this. Meanwhile, the first multinationals are using the tool now. We are pleased with the feedback and results we’ve received. TPdoc gathers data smarter and creates files faster, delivering 100% compliance on transfer pricing documentation. Get to know TPdoc.

Time to celebrate!

We were very proud to achieve the ISO 27001:2017 certification from TÜV Nederland this April. To hold this qualification as one of the first tax technology companies worldwide is a significant achievement for us.

Information security has broad implications for company operations and interactions with customers. Internal data and data submitted by customers and suppliers must be handled securely. Apart from internal benefits, we needed the ISO 27001 certification to qualify for licensing our software to large audit/Big 4 firms.

Bundled forces, intelligence, and investment

The EU regulation is going to change in 2020, and you have probably bombed by warnings on the impact of the MDR/DAC6. Intermediaries and taxable persons are required to report potential aggressive cross-border tax planning constructions.

In September, we were approached by several firms whether we have an MDR tool available or are still developing such a solution? However, developing software is a costly affair.

 

This time, our approach was different: where, in the past, we just started developing, we now first research whether there is sufficient demand in the market for an MDR tool. This is how the initiative originated to create a community that wants to build an MDR tool as a collective. We were looking for 12 to 15 participants: a number that gives us confidence, and the starting capital to be able to kick-off development next year in Q1. A community of 4 mid accounting firms, a second-tier advisory firm, and global top law firms have shown interest and indicated their willingness to participate. Visit our MDR landing page.

Great alone, even better together

Taking you as our starting point, we’ve created TaxModel’s TPframework. In short: TPframework consists of TaxModel’s transfer pricing software solutions. Each specifically designed to ease your pains when dealing with the transfer pricing process.

 

It is the embodiment of one transfer pricing software solution working perfectly on its own, whilst benefitting you even better when using the whole package of TaxModel TP products together. Read more about the renaming and rebranding.

 

Step-by-step through our tools

We’ve created a step-by-step demo video of TPbenchmark. Guiding our users and prospects through nine easy steps in our tool. These steps can reduce your time spent by 60% and increase efficiency.

Besides, we have published a video where the user is guided through TPcbc under 2,5 minutes. This video will guide the user through the CbC filing process in our solution. Watch both videos on our YouTube channel.

Design principles

‘Let’s create something Tax professionals like to use.’ With that simple, elegant idea, we started designing TPdoc, our star product for automating transfer pricing documentation beginning this year. Last October, we’ve shown you how we designed TPdoc and the patterns and principals we used for creating the best user experience. We’ve designed TPdoc to be (data-driven) and stuffed with smart workflows and interactions that feel intuitive.  This to make the documentation process a lot more pleasant for you, The TP professional.

New collabs

In the last quarter of this year, we announced the collaboration with DPA Professionals. We’ve started building a tax academy environment where tax professionals, as well as students, will be trained to use technology for their (future) services in the field of tax accounting/reporting, forecasting as well as in transfer pricing.

 

In November, we continued and intensified the collaboration with KIP Tax. They provide training and coaching to companies that decide to license our software solutions. ‘KIP Tax’ assist companies in making the right choices regarding the purchase and implementation of technology within the international tax domain.

The integration of technology in your daily tax workstreams

In November, we received an invitation from Virtual Tax summit. We hosted a webcast session about the tax function of the future. Our CEO Hank Moonen explained our vision about the WHY and HOW to integrate technology in your (the tax professional’s) daily tax workstreams. Check the webcast and presentation!

 

Welcome MDR community

Our MDR community is growing continually. Last month we shared the key features we envision for our solution together as an online survey with our MDR-community. We are grateful and pleased with the responses we received. Together, we are well on our way to a viable development trajectory for a tech-driven solution regarding DAC6. The early members of the MDR community already ‘ve attained access to an exclusive preview of the visual designs for the MDR tool. Interested or have some questions? Please reach out to us info@tax-model.com.

 

That’s your TaxModel recap for 2019! As always, if you have any questions or feedback, we would like to hear from you and assist you, just use the contact form below.

 

We hope you have an excellent holiday season, and we’ll see you again in 2020!!