Overcoming the Challenges of Mergers and Acquisitions with BSI
Meet the Authors
Mergers and acquisitions present companies with an exciting opportunity to expand where they operate, bolster the services they offer, and improve how they can compete in a crowded marketplace.
While these major corporate upheavals hold tremendous promise, actually making them practical by combining two formerly separate entities can be a difficult process. This is particularly challenging for employees. Organizations should do everything in their power to ensure that workers have a smooth transition so they can contribute to the new organization and keep essential operations running.
Ensuring Mergers and Acquisitions Are Smooth
One of the best ways that companies can help workers in the immediate term following a merger or acquisition is to provide them with a smooth and simple onboarding process into the new organization. Yet this can present unique challenges if the different companies rely on separate technology solutions.
To overcome these challenges, many SAP organizations are utilizing BSI and its TaxProfileFactory™ solution. This offering helps smooth out the onboarding and make tax process simpler, allowing employees to remain focused on their daily duties.
A cloud-based, multi-tenant solution, TaxProfileFactory manages and maintains employee payroll tax profiles automatically by setting up tax configurations. It also acts as a single source of information for all data that affects employee tax profiles. The solution offers scalability for organizations as they grow and expand, both for current and future mergers and acquisitions.
In the midst of a merger or acquisition, organizations cannot afford to have their tax and compliance teams spend significant time on manual tasks. TaxProfileFactory automatically maintains employee tax profiles, freeing up tax teams to work on other tasks that add value to the organization.
Mastering Compliance
Compliance teams may also struggle to adapt to a newly-formed organization. With mergers and acquisitions, they may have new jurisdictions in which they must remain compliant, as well as inheriting all the unique challenges that the previous companies had to deal with. BSI can also help reduce compliance risks, as its experts have experience in field-specific compliance requirements for companies in health care, public administration, and more.
The compliance requirements for different tax jurisdictions are always shifting. When companies expand, these compliance struggles can multiply. More and more companies are turning to partners like BSI to ensure that they do not overlook any significant requirements or regulations that can hamper the merger or cause issues for their newly-formed organization.
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