Our Cost Estimator Tool calculates the cost of Global Governance and Company Secretarial Functions
Globally over the last number of years we have seen a change in both regulation and costs relating to the maintenance of legal entities from a governance and company secretarial perspective. It is now more complex and challenging than ever to stay on top of the fast changing regulatory landscape, ensure global compliance, whilst also accurately maintaining data and controlling costs. We’ve seen in-house teams within global organisations are struggling to keep up with the pace of change..
We have developed our own cost estimator tool to help organisations identify their current costs for managing the governance and compliance of their entire legal entity structure around the world. The tool does not calculate the actual current costs incurred by the organisation but instead provides an estimate of what the expected/anticipated costs are based on PwC's experience working with/supporting other large multinational organisations in governance transformation.
The output from the tool can be used by organisations to formulate the business case to change their current model or way of managing their global legal entities.
How we helped a Multinational Energy client
The client was due to break off from the main group as part of a wider transaction. As a standalone business they wanted to evaluate different options for structuring the new governance and corporate secretarial team, as post separation they were no longer going to have access to the central resource at HQ they were currently using.
By using various inputs, such as how many legal entities are being managed today as well as how the client wanted to change the way legal entities are managed, we used our Cost Estimator Tool to produce an estimate of the costs for their existing, and proposed, models. We then compared this against an estimation for PwC to take on the different variations of the scope on an outsourced managed services basis.
This helped the client to produce a business case which was then presented to senior leadership internally for discussion and consideration. The client asked for an estimation from PwC to take on the global entity support on a managed services basis and subsequently awarded PwC the work.
“Our cost estimator tool supports governance and company secretarial teams as they undertake a review of their current operating model. Up until now it has been difficult for them to accurately identify and estimate how much their current model is costing the organisation as a whole, and therefore it has also been difficult to formulate a concrete business case for change.”
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Contact us
Partner - Entity Governance & Compliance, PwC United Kingdom
Tel: +44 (0)7764 235240
