Tax Advisory Services Procurement Intelligence
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.
Order your copy of the Tax Advisory Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Operational Capabilities - Tax Advisory Services
- Industries Served - 25%
- Years in Service - 20%
- Revenue Generated - 15%
- Employee Strength - 15%
- Geographical Service Provision - 15%
- Key Clients - 10%
Functional Capabilities - Tax Advisory Services
- International Tax Services - 15%
- Indirect Taxes - 15%
- Financial Services Tax - 15%
- Tax Controversy & Dispute Resolution - 15%
- Tax Reporting & Strategy - 15%
- Tax Policy & Administration - 15%
- Others - 10%
Rate Benchmarking
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.
Supplier Newsletter
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.
List of Key Suppliers
- BDO International Limited
- CliftonLarsonAllen LLP
- Crowe LLP
- Deloitte Touche Tohmatsu Limited
- DPNC Global LLP
- Ernst & Young Global Limited
- Grant Thornton LLP
- KPMG International Limited
- Marcum LLP
- PricewaterhouseCoopers International Limited
- RSM International Ltd.
- USM-SBC Consulting LLP
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Tax Advisory Services Procurement Intelligence Report Scope
- Tax Advisory Services Category Growth Rate : CAGR of 9.3% from 2023 to 2030
- Pricing Growth Outlook : 4% - 8% increase (Annually)
- Pricing Models : Fixed pricing, FTE-based pricing, time & materials pricing
- Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
- Supplier Selection Criteria : Industries served, years in service, revenue generated, employee strength, geographic service provision, international tax services, indirect taxes, financial services tax, tax controversy & dispute resolution, tax reporting & strategy, tax policy & administration, and others
- Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
