Selling our service to a Fortune 100 Company
A Property Tax Case Study
The Case
Often the hardest job we have as an adviser is to show new and perspective clients how we can save them money without stepping on toes in a tax department. One such case presented itself with a large Fortune 100 Software company. We were contacted by the new Tax Director whom we had worked with in the past at a different company. He loved our past performance for his previous company but thought it would be a tough sell to get the Tax VP to sign off on outsourcing the property tax work.
After many meetings and several presentations discussing how we could benefit their company they engaged our firm to move forward with the tax work. Now results needed to be delivered.
Results
Within a couple of weeks of the engagement, we quickly realized that the company which appeared to have a efficient system in place within the tax department was leaving a lot of tax money on the table. We started a program of cleaning up past delinquencies, past due bill that were still unpaid, and transferring control of the reporting functions to our own asset management system. Over the course of the first year we developed a better management control system that helped our client more accurately manage the property tax accrual process. We also helped develop better channels of communication across the various departments that touch the property tax process.
In the end we have a happy client. We worked closely with the client’s tax department staff to foster trust and cooperation. We were able to significantly change the business processes in place to a more efficient model and the overall result was a significant reduction in the dollars spent on the direct property tax liabilities, as well as, the overall cost to spent in penalties, interest and direct labor costs within the various departments.
We remain engaged with this company to this day!
