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Accenture helped streamline Pfizer’s tax activities and improve the overall performance of its tax division significantly, thus helping to create a finance organization that supports its drive to achieve high performance.
Pfizer was founded in 1849 and is dedicated to developing medicines and to extending access of health care to people and animals. In 2007 Pfizer earned revenues of $48.4 billion and invested $8.1 billion in research. It employs approximately 98,000 employees globally.
Accenture focused on helping Pfizer design, build and implement an improved tax organization to support high performance. We engaged with Pfizer’s tax division leadership to analyze the existing organizational structure, identify challenges and determine the strategic direction for the division. Accenture also engaged the wider tax function to obtain feedback on its overall operation. Accenture then designed the new tax organization structure to leverage underutilized synergies. It used full-time equivalents (FTEs) to increase the time dedicated to primary tax activities, developing new job profiles to focus on the skills and competencies that were required by the new strategy.
These profiles were designed to complement the cross-functional, broad-based skill sets of some tax employees with the niche, highly specialized tax knowledge of others. The tax division was realigned so that employees were grouped according to function, with tools to foster collaboration and a new management team put in place. Accenture also planned and implemented a comprehensive transition program to support tax employees through this major change. In subsequent phases of the transformation of Pfizer’s tax division, Accenture helped implement a global tax provisioning calculation tool and migrate operations to shared service centers.
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