With the aim of increasing both efficiency and tax compliance in transfer pricing processes, the two companies are combining their expertise and expanding their range of services in the field of operational transfer pricing. WTS brings in-depth understanding of tax and operational transfer pricing advice and comprehensive expertise in handling transfer pricing-related data, while Optravis contributes extensive experience with ERP processes and tailor-made SaaS solutions.
The automation of transfer pricing processes is increasingly demanded by CFOs, heads of controlling and heads of tax. For WTS, which already advises clients with a strong operational transfer pricing team and an extensive service portfolio, the cooperation with Optravis is an excellent addition to support clients seeking higher-quality solutions, also in the SaaS and high-end tool areas. The cooperation focuses on forward-looking IT solutions and projects that will help our clients implement their transfer pricing processes with fewer manual steps, greater transparency, higher quality and tax compliance.
The common goal of WTS and Optravis is to eliminate the time-consuming task of searching for data for documentation or tax audits, giving tax departments direct access to a software solution that they can use together with the controlling department to centrally calculate, book and invoice all transfer prices for goods, services and licences. At the touch of a button, they can generate the IC transaction matrix, the transactional chapters for the local files and reports for tax audit enquiries in just a few minutes. With solutions like these, corporations can save time and money in calculation, documentation and tax audits.
Tim Zech, member of the Executive Board at WTS and responsible for the Digital division, emphasises: "Optravis enjoys an excellent reputation in the market for the quality and service of its SaaS solutions. The cooperation is therefore an excellent addition to our technology portfolio, enabling us to offer customers tailor-made solutions. This cooperation is also of strategic importance to us on our way to becoming the leading European provider of digitally supported tax advisory services."
Cedric Stingelin, co-founder and partner at Optravis, underlines: "WTS's strong digital focus, which is reflected in the breadth of its areas of expertise, the number of digital tax experts and its decision not to offer auditing services, is a convincing basis for a successful, long-term cooperation. The strong in-house expertise of some of our WTS colleagues also helps us to offer our clients a very exciting package of transfer pricing, project and process consulting services, as well as our market-leading transfer pricing solutions. We look forward to working with WTS."
About Optravis
Optravis was founded in 2014 by Markus Schmidlin and Cedric Stingelin to develop and market the transfer pricing management tool. The software was initially developed over many years as an in-house solution for a listed chemical company with complex supply chains and has been continuously expanded ever since. From the outset, Optravis has leveraged the advantages of public cloud infrastructure and the software-as-a-service licensing model. Innovative technology combined with in-depth practical knowledge of data, processes, SAP R/3, S/4 HANA and other ERP systems, controlling and transfer pricing helped Optravis develop a TP platform (TP Management Tool, Service Charge Tool, License Tool), win new customers and become the leading provider of operational transfer pricing solutions. With a highly motivated team and a strong customer base, Optravis is ready for the next big steps as part of the msg group.
Further information is available at: optravis.com
About WTS Digital
WTS Digital is the leading provider of digitalisation solutions for tax and finance processes in Germany. Our digital unit offers clients a complete package covering the entire spectrum of digital services. We use state-of-the-art technologies and artificial intelligence methods. This enables us to support companies in setting up a digital tax department from scratch. WTS Digital employs more than 350 people in Germany.
