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Procurement Market Intelligence Report

Tax Accounting Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Tax Accounting Services?

What is the average price of Tax Accounting Services?

This procurement report includes pricing information to help you purchase Tax Accounting Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Tax Accounting Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Tax Accounting Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Tax Accounting Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Tax Accounting Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

The market for tax accounting services contains roughly 120,000 vendors in 2021. The top four vendors in the market account for less than 30.0% of total market revenue, indicating low market share concentration. This low concentration is mainly due to the vast size of the buyer pool, which results in... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Customer Service

Have you had any major complaints from past clients? How have you dealt with these complaints?

How do you improve client satisfaction?

What is your reputation like among your clients?

How do you ensure the quality of tax preparations?

What forms of communication do you use to communicate to your clients?

How frequently do you update your clients with the status of the services being provided?

Amidst widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Employee Turnover

What qualifications do you look for when hiring new staff?

How do you retain qualified employees?

What is your employee turnover rate?

How do you mitigate the risks of employee turnover?

How will my account be affected in the event that a staff member assigned to my account leaves the company? Will this employee be replaced by someone with an equal or greater experience level?

Market Regulation

Is audit protection included in the contract?

How do you ensure all staff members are up to date with current laws and regulations?

Has your company or a client ever faced legal issues due to problems with your tax accounting services? What was the result?

How often do changes in regulations affect the way your company operates, and how have prices been affected by these changes?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should describe their budget for these services.

Buyers should provide a budget for contingency costs, covering additional costs that may be unexpected but reasonable.

Buyers should state what costs should be included in the proposed fee (e.g. hourly fees should include travel costs).

Buyers should describe the contract length and frequency at which service fees can be opened for renegotiation.

Selection Criteria

Buyers should consider the service provider's level of relevant experience and general experience.

Buyers should look at the qualifications and certifications held by the supplier that are relevant to the job at hand.

Buyers should look at past results of contracts that were similar in scope and for clients that had similar operations to their own.

Buyers should consider the cost of the services.

Project Schedule

Buyers should offer a list of key dates that are relevant to the RFP process, including the date by which questions should be submitted, the date that suppliers will enter negotiations and the final selection date.

Buyers should provide a date by which suppliers will be contacted regarding whether or not they won the contract.

Buyers should provide a timeline of key dates following the awarding of the contract.

Evaluate major factors to mitigate risk

How risky is the supply chain?

During the three years to 2021, the supply chain for tax accounting services has been exhibiting little risk of creating service disruptions, and is projected to continue posing a low risk in the three years to 2024. Tax accounting service providers do not require any critical inputs that could disrupt... Subscribe to learn more.