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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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Sustainable legal
Sustainability is more than a buzzword - it is the core of our legal advice towards sustainable success. From drafting sustainable contracts, integrating sustainable HR policies and ESG due diligence within our M&A practice to advising on ESG and other (national and international) legislation: we prefer to be pragmatic and proactive in helping your business.
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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 COVID-19 pandemic presents extreme challenges to businesses and the competitive landscape will be a hot bed of innovation, quick pivots, divestments and acquisitions as businesses devise new models to recover growth.
Businesses need to understand where their products and services fit within the new marketplace, and emerging competitors can quickly usurp incumbents when their offering is better suited to the changing market demands.
Ian Pascoe, managing partner of Grant Thornton Thailand, says: "It's important to remember every unexpected event creates new opportunities. Your direct competitors were likely as unprepared as you for the COVID-19 pandemic. If your supply chains were interrupted, theirs probably were too – and a competitive advantage awaits whichever business develops the more effective solution."
Check your mirrors for emerging competitors
Tony Markwell, managing partner private advisory Grant Thornton Australia, says: "You could find that new competition is doing things completely different from what they've done before as they try to jump into your market. How likely are they to undercut you? Are businesses outside your traditional industry going to change what they're doing? Suddenly you may find you've got competitors you never had before. If you're in a good industry, it doesn't take long for other people to find out you're in a good industry and decide they want to diversify and take a share of it."
Maintaining your existing competitive edge requires businesses to exemplify their strengths and differences – whether it be price, quality or customer service – and clearly articulate their superiority over other brands. Any permanent innovations or enhancements made to product or service – such as free or faster delivery times – need to be communicated, so they cut through to customers as efficiently as possible.
Use alternative data to understand your market position
Businesses need to be on top of what their competitors, and their industry as a whole, are doing to inform management decisions – such as where to take advantage of customer attrition, where to find newly available talent or when to move defensively through divesting non-core operations. At the same time, they need to be mindful that their competitors will also be gathering competitive intelligence.
Pallavi Bakhru, chartered accountant at Grant Thornton India in New Delhi, says: "People have realised that data can give you a lot of information. They are sharp enough to ask, 'If you run analytics, what is the information that you can give me that'll help me make better decisions?'"
There are plenty of market intelligence sources, reports and dashboards that will be invaluable to your understandings of the competitor landscape and your position in the market. However, smart businesses are increasingly looking to alternative data to build a more complete picture of their competitors. This might include monitoring intellectual property filings and job advertisements to understand product development and strategy.
Equally, conducting sentiment analysis on public statements and company communications or monitoring search trends or social interactions with customers can also help you glean business confidence and levels of customer advocacy. Similarly, there may be ways of using third-party services in your supply chain to gain useful competitive information. For example, in the hospitality industry, a close analysis of booking platforms can indicate how well a hotel or restaurant is managing its capacity.
Start scanning for strategic opportunities
The macro-economic challenges affected global M&A levels and, at the start of the pandemic, many planned transactions were stalled. But deal flow is beginning to pick up again with the new trading environment providing opportunities for acquisitive funds and businesses. During these difficult months, some direct competitors or suppliers may be under stress and struggling. Distressed assets and low valuations may provide suitable targets for acquisitions now or at a later date.
Matthew Woodgate, director at Grant Thornton UK, says: "Companies that have emerged from the crisis weaker are considering their strategic options. Some companies are looking to divest non-core businesses and ensure their business models are 'future-fit', and some opportunistic acquisitions are taking place."
Being mindful of those potential targets, and being prepared and poised for any possible transaction will allow you to move rapidly when the time is right. You will need a clear sense of how that acquisition supports your strategy, and those targets align or complement your manufacturing or operating capabilities.
Prepare to pivot your business quickly
One encouraging aspect of the pandemic has been businesses’ ability to pivot very quickly to where the demand is. That will only continue as global and regional economies recover.
Bakhru says: "Indian passenger airlines got grounded in the pandemic. There were no domestic or international flights. So what some of the smarter private airlines did is to move into cargo hauling. They quickly converted aircraft for carrying cargo, because suddenly, there were supplies needed, medicines and ventilators that had to be moved within the country."
"One airline started it, and within two months, everybody started doing it. Normally what happens is competitors always have an eye on each other. There'll be somebody who will be the first one to hit the market and capture the largest share, then the rest will follow."
Businesses will need to weigh up the short-term and long-term market scenarios and have plans in place which they can execute with speed. Part of that includes examining your and your competitors' customer base and assessing if you are addressing the right demand and the right customers that will put you ahead or protect you from the competition. Markwell says: "If you find you have a customer base you really shouldn't have, now may be the time to chase the customer base you need to have. Bear in mind your competitors might be a bit slow to shore up their customer base."
Like Formula 1 teams attempting to overtake their rivals, they will know the optimum conditions and point on the track at which their car can outperform their competitors. In the same way, businesses must plan for the opportunities to get ahead and seize the moments when they come around. They need to constantly survey the track ahead and be ready to move position and accelerate forwards when the time is right. To do that, businesses must develop a deep understanding of the market’s dynamics and how their competitors are adapting to it.
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