TPbenchmark is a cloud-based software solution that automates the benchmarking process and with that reduces the turnaround time by two-thirds, as well as improving the quality by ensuring consistency and audit trailing.
Reduce time spent
Minimize time spent on the manual benchmark process, reducing your costs and multiplying the amount of benchmarks performed in the same time.
Make better use of highly skilled and hard to find staff, while at the same time cutting out the repetitive manual actions.
Bulletproof audit trails
Full and easy accessible audit trails of the entire benchmark process and considerations for accepting / rejecting companies.
TPbenchmark scans the websites and trade description text for the search parameters specified by the user. The texts are automatically translated into English using a professional third party translation service for these parameters. These parameters will be displayed with the number of hits for each company.
The crawling results are to be validated in a funnel type process, first going through the “multi check” for quick review and then going through the remaining results in the “single check”. The single check screen allows the user to make a quick overall assessment per company based on the parameters entered, whereby highlighting the predetermined search parameters in the trade description and/or matching webpage. Next, this page allows the users to search for additional information through Google and view the website print screens. This results in a fast and efficient way to review the companies.
Once the search is uploaded into TPbenchmark, it scans through all websites within the search with the use of an external server. Therefore, the capacity performance of a user’s computer is not negatively impacted. TPbenchmark loads the company websites into the server and makes them searchable.
While scanning, the user can already specify the relevant search parameters to screen the potentially comparable companies for acceptance / rejection reasons. Search parameters can be entered by using search queries, allowing users to create detailed accept / reject criteria. Entering these search queries also allow for instant accepting or rejecting of companies based on the hits on these search queries, therewith further improving the efficiency of the manual search process.
PLI / Results
TPbenchmark automatically calculates the margin achieved based on the selected transfer pricing method and the different Profit Level Indicators (PLI’s) and is able to calculate working capital adjustments. The summary overview will show the interquartile range, maximum and minimum results for the financial years selected and will give the weighted average for the number of observations. TPbenchmark also allows the application of working capital adjustments based on predefined interest rates (which can be set by the user).
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