Industrial Goods and Services

Industrial Manufacturer
A leading international manufacturer had established a shared service centre in the Czech Republic. The centre supported the business activities for operations in a number of countries throughout Europe, as well as providing accounts payable functions.

Accordance was asked to undertake a high level process review for each country covered by the shared service centre. Interviews were conducted with each Head of Department dealing with a particular country. This process led Accordance to discover deficiencies in the coding for recovery of accounts payable invoices, resulting in significant under recovery of VAT in a number of countries.

Accordance continued to work with the company to identify other related accounting errors across a range of issues that resulted in the client being able to reclaim up to €1M.

Part of the problem was a lack of awareness amongst staff of the complex VAT regulations that apply across EU country borders. Accordance rectified the problem through the design and facilitation of a series of technical training programmes.