Multidisciplinary business partner

PKF started their activities with economic consulting and auditing services as one of the largest consulting companies in Poland and one of the leading networks of advisors and business consultants in the world. Today, PKF specializes among others, in strategic outsourcing acting as a multidisciplinary business partner.

For example, keeping accounting, human resources and payroll on behalf of and for the benefit of the client no longer provides sufficient added value. The added value is the combination of knowledge from many areas of the partner's activity, i.e. accounting, human resources and payroll, in the field of law and taxes, management accounting, controlling and employee matters. The value for the client is the combination of knowledge from many areas with the law, the realities of the market and the industry in which the client operates. Our goal is to constantly support our partner in his operational activities and to actively advise him in making strategic decisions. We also assess and report to him issues that may affect his decisions and later his business as a whole. We inform about opportunities and types of risk. The following examples show the practice of such activities.

Implemented solutions

First customer. A young service company that has grown at a tremendous pace. Its internal processes did not keep up with the development. The management board needed support in the arrangement and mapping of internal processes in such a way that it could finally receive the necessary management and controlling data.

PKF started cooperation with the analysis of processes, procedures and systems at the client's premises. On the basis of an internal audit and discussions with the management board, PKF experts identified the information needed, that the management staff should receive, in order to effectively manage the company. They identified weaknesses and bottlenecks that made every day work difficult. They then recommended changes and at the implementation stage, they adjusted the accounting processes that enabled controlling in all areas and cost centers. They prepared various templates of management reports for managers of individual cells, so that each of them would receive the needed information.

In order to facilitate and speed up work, the activities were based on the PKF Agility platform, supporting employee processes, work time records and electronic document circulation. The client also outsourced to PKF accounting, human resources and payroll books as well as management reporting. The company also uses legal, tax and business consultancy. In total, the client received a package of services, thanks to which he significantly reduced the labor intensity, improve communication in the organization and automate most of the processes. This allows management to focus on core operations and development.

Second client. A manufacturing company from a capital group decided to outsource payroll. They wanted to keep sensitive payroll and HR data confidential.

PKF experts began their work with an analysis of the payroll system and the regulations in force in the company. Then they recommended simplifications in calculating remuneration and internal regulations. After accepting the changes, PKF prepared a schedule for taking over the entire process. Efficient implementation encouraged the management board to extend the cooperation also to include HR services.

Further needs of the client concerned legal and tax consultancy, analysis of payroll costs, simulations and forecasts of payroll costs for the coming years. Therefore, PKF supports the company in the area of financial and accounting arrangements and prepares the necessary management data on an ongoing basis.

The cooperation resulted in signing a contract for the provision of a similar service for another company from the capital group, where the employment amounts to approximately 550 people.

Third client. A dynamically developing company from the transport sector, belonging to a foreign capital group. Internal organizational changes led to destabilization in the accounting department. The management board needed urgent support in accounting and supervision over the bookkeeping. The client's problems began when the decision was made to implement a new accounting system. The chaos deepened after the departure of their chief accountant. The company ceased to cope with the current bookkeeping, which began to have a significant impact on operating activities and cooperation with strategic suppliers.

First, PKF stabilized the current situation, then substantively and technically supported the client's team in the accounting process of closing the financial year. There were months when several PKF employees worked at the company's headquarters. When the client was ready, PKF assisted him in transferring all the processes to his internal cells. The cooperation of both parties is still ongoing and concerns legal, tax and financial advice.

Fourth client. A newly established company asked for bookkeeping as well as human resources and payrolls due to difficulties in recruiting highly qualified employees.

Due to the specific nature and industry in which the company  operates, the service was ultimately to be transferred to the shared service center of the capital group. The task of PKF was to prepare the company to take over the processes by the shared services center.

The development of the young company was very agile and as a result of which, after two years of cooperation, employment had increased by 200 people. The company was characterized by unusual transactions and complex settlement methods in the capital group. An important element of the cooperation was the ongoing analysis by PKF of most of the contracts in order to properly include them in the accounting and tax books. Both the supervisor assigned to the project and the team had extensive substantive competences not only in the field of accounting, but also law and taxes. An important element of the cooperation was the design and preparation of analyzes and reports. After four years, the company was ready to transfer these services to the shared services center, and PKF experts actively supported it in this. We currently provide legal and tax consultancy as well as business and accounting consultancy for this client.

The fifth client. A company belonging to a large foreign capital group in the clothing industry, with an extensive retail network in Poland. The company needed professional tax services.

All companies from this group operate in a model in which balance sheet accounting and reporting are conducted internally, and tax accounting is outsourced to external partners. PKF offered tax supervision services, which consist of conducting CIT and VAT settlements, handling fiscal inspections and preparing reports required by Polish regulations. The books of accounts are kept on the client's software which is not adapted to the requirements of tax regulations in force in Poland.

Due to the specificity and large scale of operations as well as complicated intra-group settlements, our cooperation required great competences on our part. In this situation, PKF assigned an experienced team to the client, which answers employees' questions regarding the method of accounting in terms of tax. Our experts also advise the company in assessing the tax consequences of planned transactions.

Grażyna Sadowska-Malczewska
Managing Partner of PKF BPO Sadowska-Malczewska