-
Valuations
For organisations involved in a transaction, dispute, merger, acquisition or restructuring, the value of the company involved and its assets will be an important commercial consideration. A clear and thoughtful view of the respective value is therefore essential in such situations.
-
Due diligence
Due diligence identifies risks and examines potential financial, tax, legal or operational pitfalls. We offer robust due diligence services, clearly tailored to our clients' requirements.
-
Independent trusted advice
Do you want to sell your business or rather grow it through an acquisition?
-
Corporate reorganisations
Redesigning your group structure can mean significant cost savings and/or efficiency improvements. The restructuring provisions of the Companies and Associations Code (merger, demerger, contribution or transfer of branch of activity, etc.) provide you with the legal means to achieve this.
-
Legal support
Mergers and acquisitions represent a challenge for dynamic organisations. As a manager or entrepreneur, you want to look at this challenge from all sides to obtain the best conditions. That is why our professionals work on the basis of integral process management during merger, sale or acquisition processes.
-
Transfer pricing
Our experts help document your transfer pricing principles, intra company transactions and internal reporting and organisation. They design and implement settlement pricing structures for both national and multi-national companies. When services are centralized, they determine acceptable costs and margins.
-
Global mobility services
International employment has become a standard practice in today's HR policies. Nevertheless, it raises several questions for both the expat and the employer.
-
International tax & VAT
If your business has grown internationally or if you’re considering to take the step to expand abroad, you want to continue maximizing your efforts. Where domestic corporate tax laws may already be quite complicated, local legislation in other countries and international tax laws will most certainly add to the complexity of your business environment and organization.
-
IFRS reporting
IFRS reporting services for international groups and SMEs.
-
Financial statement audit
As a large organisation, you are required by law to appoint an auditor to report to the general meeting on the (consolidated) financial statements.
-
Agreed upon procedures
As an entrepreneur or manager, you may entrust specific work to your company auditor. The nature, extent and scope of these activities or procedures are always mutually agreed upon.
-
IFRS reporting
The European International Financial Reporting Standards (IFRS) have been mandatory for listed companies in the European Union since 2005. However, these standards also offer specific advantages for unlisted companies and SMEs.
-
Legal assignments
When significant events occur, the Companies Act imposes audit and reporting obligations on your company. In which cases is reporting required?
-
Transaction advisory services
As independent advisers, our transaction specialists offer independent advice, not just on the financial aspects, but throughout the transaction cycle. Their independence is beneficial both to buyers as well as sellers. Our advisers work according to a structured methodology, keeping track of all financial, operational and strategic elements.
-
Restructuring
Based on our "to-the-point" analyses, we identify with you the appropriate restructuring opportunities to help improve cash flows, results and balance sheet positions in the short term.
-
Risk and compliance management
What are the risks to my business? What steps should I take to avoid these risks? Our business-risk advisers will be happy to help you get started.
-
Internal audit
An effective internal audit function helps dynamic organisations better manage risks and turn them into opportunities.
-
Cyber risk services
Cybersecurity and data privacy threats evolve on a daily basis. It is essential to recognize the threats, understand your exposure, balance your priorities and formulate a comprehensive response. We provide support in addressing both global and local cybersecurity and privacy compliance needs. We assess the risks of cyberattacks and the maturity of security programs, and we recommend and implement workforce, process and technology solutions to protect information assets. Contact us for a solid strategy that will help you proactively manage cyber risks both inside and outside your organization. We are ready to help you safeguard your future.
-
Data analytics & process mining
Companies have a huge amount of data at their disposal, and that amount of information is also increasing every day. Gaining deeper insight through data analysis can increase the value, commercial challenge and level of understanding of the business.
-
Process optimisation and internal controls
Futureproof organisations need to regularly revisit their strategies and objectives thereby optimizing their tactics, processes, internal controls and systems
-
Forensic & integrity
Fraudsters become more inventive and can adopt different strategies depending on their target’s weaknesses. It is therefore crucial to ensure the appropriate level of fraud risk preventative measures are present in your organization.
-
Sustainability & Impact services
How do I really make sustainability part of my strategy? How do I realise valuable impact? How do I get a grip on climate-related risks and opportunities? We can help you in your ESG journey.
-
Whistleblow services
A whistleblowing programme helps your organisation to both prevent and detect fraud quickly. That way, you can reduce and even avoid fraud losses.
-
Corporate tax
Laws on taxation are dynamic. Making sure your organization’s liabilities are met, requires constant monitoring and managing. Our advisers can offer case-by-case advice, help you coordinate, assist in filing reports, assess your risks, … or fully execute compliance processes.
-
VAT
This requires a high level of experience, knowledge and insight of indirect tax, but also of your industry and organisation. Our team of full-time VAT specialists can assist you in various fields, ranging from advice and risk control to implementation and optimisation. As companies need advice as well as assistance and support, we execute and assist in fulfilling the necessary formalities and apply for permits.
-
International tax & VAT
If your business has grown internationally or if you’re considering to take the step to expand abroad, you want to continue maximizing your efforts. Where domestic corporate tax laws may already be quite complicated, local legislation in other countries and international tax laws will most certainly add to the complexity of your business environment and organization.
-
Compensation & benefits
To recruit and retain the best talent, it is essential to offer optimised and competitive pay packages. Grant Thornton helps you put together attractive packages tailored to your activity and the profile and expertise level of your employees.
-
Transfer pricing
Our experts help document your transfer pricing principles, intra company transactions and internal reporting and organisation. They design and implement settlement pricing structures for both national and multi-national companies. When services are centralized, they determine acceptable costs and margins.
-
Global mobility services
In a globalised world, businesses must work seamlessly across borders. Organisations operate in multiple countries and view international expansion as a strategic objective. International talent mobility is a key element of a successful global business and with it comes challenges and risks, as well as opportunities. With ever changing global tax regulations, an effective, compliant and cost-efficiently managed international mobility program is a critical component of successful talent management and business operations.
-
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
-
Legal support & contracts
Running your business on a day-to- day basis often has legal consequences. Not only key moments such as take-overs, shares transactions and mergers require legal support, but also your organisation’s daily operations. This is why our legal advisers are equipped to provide you with advice in many fields, both at a national and at an international level. They develop an understanding about your organisation’s activities and development plans. This allows them to offer you up-to date, relevant advice supporting your business.
-
Company law & acquisitions
Your organisation is accountable towards many stakeholders: shareholders, board members, management and many more. Needless to say expert support to fulfill all reporting requirements can mean added value to your business.
-
Labour and social security law
Belgian labour and social security legislation is a maze of schemes and regulations that employers tend to get lost in. Our legal experts issue advice and assist you, from the employee joining the company until leaving the company due to termination, retirement etc
-
IT law & GDPR
Every business depends on ICT support. Given the business-critical nature of many ICT applications, concluding solid contracts is an absolute must. Grant Thornton has extensive expertise in consulting on and drafting various types of ICT contracts.
-
Legal Counsel as a Service
Does your company need a 100% committed 'specialised' generalist who really knows the ins and outs of your company? Someone who thinks from your business perspective and provides pragmatic legal support by knowing your business strategy, its operations and business specifics? We can answer this need with "Legal counsel as a service".
-
Accounting & reporting
At Grant Thornton, we offer you our accounting services either on a fully outsourced basis or a co-sourced basis. Whether you choose to have our experts to take care of all of your financial reporting requirements on your behalf or you choose to use our services for a project or a part of your accounting function, we have the skills and experience to deliver the right quality output you need.
-
CFO-as-a-service
Are you a dynamic SME and do you want to be able to fall back on the expertise of a CFO? But is a full-time CFO still too big a step for your organisation? Grant Thornton offers you CFO-as-a-service.
-
Outsourcing
Your financial information is an important management tool. That is why it is important your entire reporting process, from budgeting to filing financial statements is in line with your strategy and information needs.
-
Consolidation
Our experts have a broad practical experience in consolidation. The methodology that we apply, guarantees a complete transparence of the consolidated data.
-
Global Compliance and Reporting Solutions
As an entrepreneur operating in different countries, you are often confronted with various local obligations (VAT, direct taxes, financial reporting, etc.). Thanks to our Global Compliance and Reporting Services (GCRS), we offer you the solution in this regulatory tangle.
-
Values and business culture
Our values guide us globally in the right direction to support our clients and ensure our own evolution, both individually and within our teams.
-
Flexibility and work-life balance
Flexibility and responsibility are our core values, both at work and beyond. So you can be ambitious while continuing to pursue a good work-life balance.
-
Client portfolio
We learn and grow together with our customers. That is why you get a varied customer portfolio with companies from very diverse sectors.
-
International network
With 62,000 colleagues in over 140 countries, we are one of the largest accountancy and advisory firms worldwide. You benefit from that enormous expertise.
-
Inclusive business culture
Whatever your experience, background, race, diploma, gender or orientation, you are welcome! We are interested in you as a person, so bring your full story with you.
The healthcare sector is still experimenting with using big data, but it already has plenty to teach us about the benefits and challenges of big data analytics.
Healthcare providers have been collating big data long before we even knew it existed. Today, in certain controlled environments, technology allows for vast databases of detailed medical records to be digitised and analysed on a scale large enough to detect patterns invisible to the human eye.
At the same time, the healthcare sector is undergoing a fundamental cultural shift in which healthcare providers are paid for ensuring patients remain healthy rather than for a particular treatment or procedure. Big data analytics can help providers make this transition from a fee-for-service model to a value-based model.
However in making the transition, healthcare providers are encountering some important challenges: how do we organise the data we have, and how do we make impactful use of it? How do we collect and store highly sensitive data securely while making it available for data analytics? How do we make databases from different but related institutions talk to each other? And how is data in that federated environment managed and distributed effectively so that every data user has the same experience?
These are questions that the leaders of every business in every sector need to ask themselves before embarking on the big data journey.
A values-based approach
Healthcare systems around the world face multiple challenges: caring for aging populations; treating rising rates of serious conditions such as heart disease, diabetes and obesity; and increasing patient expectations and standards of accountability. This, twinned with dwindling public funds to pay for healthcare, is persuading policymakers to move towards a values-based approach to providing healthcare.
In the US, for example, where the federal government’s Medicare programme funds health insurance payments for the elderly and selected younger people, more than 50% of insurance payments for the over-65s must be paid this way by 2020. In 2009 the UK government introduced an initiative called Commissioning for Quality and Innovation, which allows 2.5% of the cost of hospital treatment to be held back, contingent on outcomes.
These types of reform are already driving efforts to use big data to understand the true health of patient populations and to make appropriate recommendations that keep people healthy.
However, big data analytics can play a much bigger part. For example, it can help detect early warning signs in a flu outbreak by understanding the underlying causes and therefore treat affected patients more efficiently. It can also help government healthcare systems and healthcare insurers discover insights that lead to more effective and financially sustainable treatments. For example, by understanding the underlying genetic causes of diseases, existing drugs can be repurposed to treat those illnesses.
Paying for outcomes
Alongside what providers are paid for, how they are paid also has an impact on the case for big data.
Many governments and insurers have moved towards a system where a single payment is offered for a full care cycle of acute medical conditions, or for a defined period of overall care for chronic conditions. In Sweden, the Stockholm authorities have been using this approach for hip and knee replacements since 2009; in Germany, such payments are offered for hospital inpatient care. It’s an approach that’s encouraging providers to be more efficient and collaborative in the way they deliver healthcare. Big data can help that collaboration.
For example, if healthcare providers can gather data about the treatment of a given condition across multiple institutions they can also identify common factors in efficient and cost effective instances. Sharing that data across the sector can help to reduce ‘clinical variation’ – instances of the same treatment leading to different outcomes.
Taking a longer-term view, big data can help providers understand if certain treatments or procedures really lead to improved patient welfare down the line. If they don’t, providers could save costs by not carrying out unnecessary procedures.
Cyber-risks
A global push towards electronic medical records systems will create the big data that enables these types of collaborations to take place. But storing data electronically comes with risks. Cyber-crime and the threat to patient privacy is the top concern of hospital CEOs right now. In the US alone, 113 million medical records were hacked in 2015 and 3.5 million were breached in the first quarter of this year, according to government figures.
Data security isn’t the only issue that can undermine the public’s trust in having their personal data collected and stored. The lack of regulation governing how this data can be used is also a challenge and can have the add-on effect of people choosing not to share their data in the first place. This threatens the potential promise of data-derived innovation and makes large datasets more difficult to manage, increasing the chances of a data breach.
Electronic medical records are just one of hundreds of IT systems in the healthcare sector that will need to be interoperable – that is, be able to ‘talk’ to each other – if big data is to be used to its full potential. Data breaches could occur at every point of connectivity, which is why providers need to audit their systems to ensure they are secure and ensure there are safeguards at any points of weakness.
In addition, providers should have a well-thought-out plan they can implement in the event of a data breach. That’s tougher in healthcare than in other sectors because, as one hospital CEO told me: “You cannot shut down the clinical systems or people will die.”
Providers need to understand what types of breaches might occur, as well as the operational and IT implications of those breaches – principles that apply in other sectors. For example, which systems can and cannot be shut down? What are the legal implications to consider; not easy in a world where technological advances are outpacing the governance and legal frameworks, especially when it is unclear who 'owns' the data? Most healthcare providers haven’t thought through all these questions yet and so dealing with cyber-crime becomes very reactive. Although some are starting to take a more planned and organised approach.
Private-sector opportunities
Despite the risks, the potential of big data to improve healthcare provision can’t be ignored. The challenge is finding the resources to exploit that potential. For public healthcare providers who are accountable for how they spend taxpayers’ money, that might not be an option, which leaves a space for private-sector providers to step in and offer this service.
Many big healthcare insurers are trialling big data, including Swiss Re, Zurich and several US-based insurers. They are using technology such as IBM's Watson which analyses vast amounts of unstructured data to answer particular questions, extract key information or reveal data insights to improve patient outcomes. Over the next few years, we are likely to see some private companies take a lead in this field, making a name for themselves by gathering and mining public/private healthcare data for beneficial patient and provider outcomes. Strong data governance systems in the private sector will also give rise to interoperability challenges that will need to be addressed.
Open data initiatives could provide another route to harnessing the benefits of big data. In the UK, the government-funded 100,000 Genomes Project has opened the genetic data of 100,000 patients up to public and private sectors organisations to help sequence 100,000 genomes by 2017. The project hopes to enable the UK to make strides in the genomics field, leading to a host of benefits such as earlier and more precise diagnosis, faster clinical trials for new drugs and treatments and, ultimately, new cures.
Embarking on the big data journey can be daunting but healthcare providers will need to get on board. As the sector moves towards a values-based rewards system, public and private providers that leverage big data and share it across the care-delivery ecosystem will be able to offer more efficient and effective treatment.
The healthcare industry can be a leader for what could happen in other sectors too. Yes, big data has its challenges: security, governance and interoperability, to name a few – but it also has multiple benefits that, ultimately, will lead to deeper insights and improved outcomes, performance and growth. Not to mention healthier communities.