Automating Comparable Entity Evaluation for Transfer Pricing

A consulting firm engaged Backbone to automate its process of evaluating comparable entities for transfer pricing documentation. Previously, the manual process required the team to go through a list of hundreds of potential entities, search for their websites, gather detailed business and product information, and then conduct comparisons. This time-consuming task took the team several days to complete and contributed to high staff turnover due to the repetitive and laborious nature of the work.

Backbone developed an automated solution that streamlined the entire process. The tool automatically searched for the relevant websites, extracted detailed business and product information, and organised the entities for comparison. This allowed the firm to quickly and efficiently evaluate comparable entities.

By automating the task, the consulting firm drastically reduced the time required to complete the evaluation and eliminated the repetitive workload. The firm was able to provide faster, more consistent results, enhancing service delivery while reducing staff burnout.

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