Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
And, while it’s true that data-driven decisions are not always correct, there is a much higher chance that they will have far better outcomes than those based on habit or gut feel. That said, in our experience, it invariably helps that decisions based on data analytics have a ‘human review’ or pass “the eye test” before they are acted upon.
The brave new world of data analytics
Professor King essentially means that the falling cost and growing power of technologies like data visualisation, predictive analytics, machine learning and artificial intelligence are opening up this brave new world to more and more organisations and individuals. As a result, more businesses are creating a culture of data-driven decision-making and successfully finding better answers to key questions.
Critically, getting these answers right can help organisations reduce their overall risk profile and become more profitable.
To take an example that’s close to home for us at Grant Thornton, a current client is the holding company for a portfolio of manufacturing, construction and industrial services businesses, collectively generating revenues of more than $2 billion. The organisation’s decentralised nature was making it difficult for the internal audit team to collect data for each business and then to run analytics to identify high-risk vendors, employees and transactions.
So the company brought Grant Thornton in to help. We worked with the business and the internal audit team to develop and implement a bespoke analytics and visualisation platform that takes end-user requirements and corporate management objectives into account. Now, internal audit can not only identify and investigate high-risk anomalies, it can also easily refresh the data pool and change analytics and visualisations in the light of new requirements at any time.
As a result of this project, the client has a much better understanding of its overall risk portfolio thanks to its enhanced ability to spot, and nimbly respond to, anomalies and outliers – a significant gain.
Three steps to unlocking your data
Obviously, the above example is a large and sophisticated business that has successfully established a lead in this area. But for those still just starting out, it is not too late to catch up. There’s little time to lose, however – and knowing where to start your analytics journey can be baffling.
So what should your first action be? In our experience, to prevent unnecessary delays it’s vital to start with a clear and specific analytical goal in mind. Ask yourself questions like: What business problems am I trying to solve? Am I trying to understand enterprise risk better or am I trying to improve profitability, revenues or both?
The answers will help you decide what types of analytics to run, what kind of data you need, how to visualise the results and how ultimately to extract the greatest value from your data pool.
The second step is clearly to specify, develop and implement an appropriate data analytics and visualisation platform. As we’ve seen from the above example, this can help the internal audit team identify more high-risk (and potentially fraudulent) elements than they have in the past.
The impact and benefits of analytics extend far beyond internal audit. Getting the right platform in place is one matter. The third step of creating an enterprise-wide culture of data-driven decision-making is quite another – and it’s of equal importance.
This means ensuring that analytics and visualisation should never be used in a vacuum but right across the business as a key touchstone for making the right decisions. And this broad scope means that businesses on a data journey must consider multiple needs across a range of factors. Goal-setting, data identification and formula verification for example, as well as data quality and analytics reviews, visualisation design, end-user review and data governance.
We have seen time and time again that this three-step approach has a dramatic positive impact on our clients’ performance and profitability.
Our team has a wealth of experience in analytics and visualisation design, creating solutions to meet our client’s specific needs and ensure self-sufficiency. To talk to us about how we could help you benefit from the data in your business, please contact Matthew Petrich or Mathew Tierney.