Case studies

High performance

Our client, a major financial group, had expanded significantly through a series of mergers and acquisitions. The group’s tax function had also expanded, but was never able to stand back and comprehensively review the way things were done. The tax team was always running to meet the increased demands of the expanded business – compliance, reporting, advisory and planning. Tax staff were overloaded at peak times, fire-fighting issues and less able to plan proactively.

The client turned to Affecton because of our collaborative approach and a shared belief that performance could be improved using existing resources. We engaged with all the staff in a number of ways including confidential face-to-face interviews; facilitated group meetings and questionnaires. This developed a common understanding of what was happening and what was possible.

Together, we explored and tested possibilities and developed workable solutions. These covered all aspects of the tax function including – the tax group’s strategic objectives, roles and responsibilities, work processes and procedures, team and management practices, as well as how the tax group partnered with the business. Affecton was then engaged to assist in the delivery of all the recommendations and working with the tax team the implementation was delivered on time and within budget.

The overall tax group performance improved dramatically. Instead of being behind, the team is now on top of issues in all areas. In compliance for example, tax computations are now completed early. Everyone is more engaged and committed to achieving common objectives. The tax function is now seen within the wider financial group as a “pathfinder” to high performance.

The benefits have become self-sustaining: the tax team is continually striving to achieve higher levels of performance in all aspects of its work and it is recognised for best practice within its peer group. In commenting on the programme, the Head of Tax said: “Having Affecton there took away a lot of the risk of non-delivery… Group Tax has been transformed in the way everyone works together to get things done.”

Back to clients