Crowe Horwath Services in Jamaica

Sunday, February 26, 2017

Crowe Horwath now Rank 8 in the World while Deloitte replaces PwC as Number 1 firm


Deloitte replaces PwC as the top Accounting firm in the world while Crowe Horwath take the number 8 spot from Baker Tilly according to the latest global network ranking issued by International Accounting Bulletin (IAB). 
PwC lost its title as the world’s biggest professional services firm despite its revenues growing by 2 percent to $35.9bn while Deloitte achieve revenue of $36.8bn , a growth of 5 percent during the past year .
It should be noted however that advisory plays a significant role in Deloitte's achievement accounting for 46 percent of total revenue while audit represent only 26 percent. PwC advisory revenue accounts for only 32 percent of total revenue, with audit contributing 43percent .
Accounting firms are facing international scrutiny of their audit and tax work which is forcing diversification of services.All the Big Four and mid-tier accountancy companies are picking up clients in new areas such as data analytics, deals advice and management consultancy.
It is important to review the revenue matrix carefully to access the future (2017 and beyond) as it is a widely held view that advisory revenue are more volatile than statutory compulsory audit. Revenue from audit services for the two top firms in the previous year (2015) compare to 2016 were :
  • Deloitte Audit Revenue percentage in: 2015- 28% ,2016-26%
  • PwC Audit Revenue percentage in 2015- 43%,2016-43%
The above clearly highlights Deloitte's focus on advisory instead of audit.
Crowe Horwath global revenue of 3.7bn surpass Baker Tilly revenue of 3.2 bn rewarding the global branded the number 8 position. Audit and Assurance accounts for 45% of total revenue while advisory represent 30%




Moving up a position in global ranking has been a hard won victory for Crowe Horwath. So how did we do it? Below are just a few achievements that propelled our network to a year of peak performance:
  • Our calendar year ending December 2016 was marked by a year of growth across all of our regions and lines of business. Asia Pacific and Latin America grew in the double-digits. This is supported by North America’s strong growth of eight percent. Middle East and Europe continued to experience modest growth, despite operating in a challenging economic environment.    
  • All of our lines of business grew five percent or greater with Audit & Accounting growing five percent, Tax growing nine percent and Advisory growing six percent. Further, while many networks are experiencing a contracting of their audit and accounting business, our practice grew demonstrating Crowe Horwath’s commitment and ability to deliver cost effective, quality compliance services.  
  • The strength of our network, global brand and unwavering commitment to each other was evidenced in the volume and number of firms participating in cross-border client proposals and engagements. 
  • Eighteen new member firms including Jamaica ,were added in 2016, bringing our global reach to 129 countries across 764 offices.  
The top 10 Accounting network:
1. Deloitte
2. PwC
3. EY
4. KPMG
5. BDO
6. RSM - £3.9bn (+5%) 
7. Grant Thornton
8. Crowe Horwath International  
9. Baker Tilly international  
10. Nexia International
For more information on Crowe Horwath’s year end results, read our press release or top 10 infographic.



Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

What entrepreneur must understand about Demand and Supply




Determining the nature of demand by surveying your list of products and services can make the difference between a little return on your time investment or a lot. I find that a lot return is much more fun. I am sure you will agree. Pay close attention, these tips will help. Sorry, you will still probably have to experience a few episodes with a little return, but this should reduce the numbers of those.

The supply and demand of the marketplace always affects the business environment, as it is always changeable. There are many contributing factors of the demand in the market and in kind, this demand will affect the supply. To be able to come up with changes it is vital to understand these contributing factors to move with the flow of changes in the marketplace.

- Customer income

The personal income of f a customer affects their ability to purchase goods and services. The income of a customer determines if they can afford your product or service.

- Prices of related goods

The demand for a product influences the price of products, for instance when the price of apples declines in any particular season, customers will buy more apples, even though they may be used to buying oranges. This will cause the orange industry to suffer because apples are available at a lower price.

- Shifting tastes

The shifting taste of the market influences a markets demand when trends drive the demand of any particular product up, while adversely affecting the demand in the market.

-Individual tastes

Individual tastes will reflect on the markets overall demand, since at times some customers will prefer coffee over chocolate and this will significantly influence the comparison demand of coffee and chocolate.

- Future expectations


Future expectations also influence the demand of any particular service or product. For instance, when you expect to earn more money in the near future you are more likely to spend more money today. Whereas, if you expect to soon encounter financial difficulties then you are more likely to cut back on your demand for services and products as you will begin to save your money.

- Number of market buyers

The number of buyers on the market influences the overall effect of demand, as they will drive up the need for production of goods. The prices of such goods will then be dependant on the demand that is determined by the number of buyers.

As an entrepreneur you must understand each of these contributing factors individually and thoroughly when considering the nature of demand in the marketplace, since you are in a highly dependant industry. In order to survive every business worldwide must follow the trends in demand of the marketplace. The number of contributing factors will always influence the demand of any product and there are generally more factors than you might ever consider.







Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Wednesday, February 22, 2017

UDC refloats incentives for urban renewal projects




While the Urban Development Corporation (UDC) is advertising a very large slate of projects — including many targeted at urban renewal with incentives as a drawing card — local companies are still waiting for the green light so they can make use of the benefits.

New UDC General manager Dr Damian Graham, speaking at the recent Investments and Capital Markets Conference put on by the Jamaica Stock Exchange, said the state development agency is seeking investors with the financial resources, development experience and management expertise for billions in assets which it owns and some of which it intends to sell outright.

Major projects exist in downtown Kingston; Runaway Bay, St Ann; Montego Bay; and Portmore, St Catherine, for which partners are being sought.
On offer by the development agency are a range of incentives which are intended to improve returns for investors. Among them are an investment tax credit of 33.3 per cent on capital sums invested, tax-free rental income, exemption from transfer tax and stamp duty, and tax-free urban renewal bonds.

The benefits were suspended towards the second half of the previous International Monetary Fund programme as the government sought to cut revenue losses in line with tight fiscal objectives.
However, the UDC is now building its hopes of viable public/private partnerships (PPP) on the tax benefits as a drawing card.

Three years ago GraceKennedy (GK) purchased lands from the UDC in downtown Kingston with an eye on such incentives. Projects include the new GK headquarters — to be completed at a cost of around US$25 million and slated for completion in 2017.
On Thursday, group CEO of GraceKennedy Ltd Don Wehby said the company was in the process of formally applying to the UDC, following other approaches made more than a year ago.
Having made large investment outlays, Wehby is keeping his fingers crossed that the incentives will be approved.

The headquarters is being constructed on a 48,000-square-foot plot of land acquired from the UDC and will house GK business units with space for rental for offices and retail entities. The plan is centred on land located in a zone identified as suffering from urban blight.
GK was previously successful with its application for GK Foods & Services Ltd, which benefited from the tax incentives available under the Urban Renewal Act in 2009 when they constructed their distribution centre at Salt Pond Road in Spanish Town. Now Wehby hopes that the company’s downtown project will be equally successful.

Wehby told the Jamaica Observer, “This forms an integral part of the justification to develop our new headquarters downtown. We also plan in the future to do further development and the Urban Renewal (Tax Relief) act will be critical for us to justify the investment from a financial rate of return.”
Dr Graham, UDC head, indicated that most of its PPP projects were located in downtown Kingston, and soon new bids will be invited for them from private sector developers. Included among them is a five-tower 8-storey mixed-use complex comprising condominium apartments, commercial space on the street level, 114 parking spaces, with a gross area of approximately 189,000 sq ft.


Source:http://www.jamaicaobserver.com/business/UDC-refloats-incentives-for-urban-renewal-projects_89054



















Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Professional Staff Required



Crowe Horwath Jamaica is one of the largest independent public accounting and advisory services firms in Jamaica, with offices in Kingston, Runaway Bay, Montego Bay and Mandeville is now recruiting staff for the following positions:
1. Senior Accountants
2. Trainee Auditors and Accountants
3.Business Consultants
4.Senior Auditors
5. Information System Officer
Qualification: All Applicant MUST be University Graduates with a first degree.Email CV to staff@dawgen.com
















Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Tuesday, February 21, 2017

Government Resumes Plans To Privitise NMIA | RJR News - Jamaican News Online

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The Jamaican Government has resumed the process for privatising Norman Manley International Airport, following a failed attempt two years ago. 
The Transport Ministry has published an advertisement seeking a private sector investor with experience in the airport industry to operate, finance, develop and maintain Norman Manley International under a long term concession agreement. 
   
The advertisement states that the government wants to sign a concession agreement by the last quarter of  this year. 
   
Interested parties have until April 3 to submit their pre-qualification application.
   
The previous bidding period for Norman Manley International ended in December 2015 with no takers despite the then government announcing earlier in the year that five major local and international companies had been short-listed to bid to take over the operations of  the facility.




Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

BoJ Implementing Measures To Discourage Holding Of U.S. Dollars | RJR News - Jamaican News Online

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The Bank of Jamaica (BoJ) has signalled that it will be moving to discourage Jamaicans from holding large amounts of U.S. dollars.
The policy change was announced earlier on Monday.
The BoJ announced that it will reduce the incentives deposit taking institutions have for keeping U.S. dollar deposits.
The central bank said it will ask financial institutions to put more of the U.S. dollar deposits they have in the Bank of Jamaica.
This aspect of the new policy will take place in two phases, with financial institutions required to put 15 per cent of all U.S. dollar deposits they have in the Bank of Jamaica by April.
That move will effectively force local banks to pay lower interest rates to their customers on U.S. dollar deposits, which it is hoped will act as a deterrent to those who hold U.S. dollars for holding sake.
In addition, that policy will be reinforced by the BoJ, who will stop paying financial institutions interest on the U.S. dollars it holds on their behalf, which should further force banks to want to hold less U.S. dollars.
The hope is that these policies will remove the incentives for Jamaicans holding U.S. dollars.
For the Bank of Jamaica, it is to reduce dollarisation so that the policies it implements to affect economic growth and contain inflation will have greater impact.







Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Sunday, February 19, 2017

Companies That Use Lean Manufacturing With Success


Success in the Implementation of Lean Manufacturing Principles in Companies

Lean manufacturing is a holistic and innovative approach to making companies' profits and earnings somehow upbeat and at par with contemporaries around the world.

Lean manufacturing, according to experts, was developed and initially implemented and launched in Japan, which is a country foremost known for interactive and inventive approaches to solving and dealing with problems.

Experts also note that lean manufacturing principles are very simple and practical. However, the success of lean manufacturing adoption and implementation depends and principally relies on the effective and religious implementation of the simple and easy to do strategic principles.

Lean manufacturing and companies

Companies around the world, in all aspects and in all industries, are now addressing lean manufacturing issues and concerns, one way or another. The fact that all companies need to reduce operation costs and expenses make up to the companies ever- enduring efforts and initiatives to adopt lean manufacturing principles.

There are numerous companies that fall and file for bankruptcy every now and then. The corporate world is alarmed because even the staunchest and most stable companies in the past decades are beginning to show signs and indications of deterioration and weakness nowadays.

It can be because the world economy is so challenged by the greatest problem that has bugged the economy of the world---rising and higher oil prices. Lea manufacturing is becoming very popular among all companies because of that.

Lean manufacturing principally aims to help companies by targeting or initiating ways, measures and practices that alleviate and reduce wasteful practices and behaviors in the work environment.

Lean manufacturing is also helping companies around the world to cope up with the real and emerging challenges in the real world when prices and costs are so volatile and influential to modern living and economies.

There are seven waste, wasteful practices and unproductive processes that lean manufacturing aims principally to erase or alleviate.

First, lean manufacturing aims to scrap over production among companies. Over production leads to lowering and declining prices of products and merchandise that would eventually lead to a company loss.

Second, lean manufacturing aims to reduce and cut over processing inside all companies. Over processing makes expenses higher by putting up additional costs and expenses for processing materials and labor costs. Time is also wasted by that.

Third, lean manufacturing maximizes transportation. You know that transportation is facilitated by automotive and cars. These in turn, burn up oil and petroleum that are currently priced at unreasonable levels.

Fourth, lean manufacturing makes motion productive. By eliminating wastes and setting aside big and space-consuming equipment in the work place, laborers are able to move freely, enabling them to eventually speed up production and do more outputs.

Fifth, lean manufacturing prevents piling up of inventories. In some industries, piled up inventories are positive, but in almost all, or the majority of manufacturing firms, inventories should be kept controlled because prices of the goods are affected by piled up inventories.

Lean manufacturing makes up operations streamlined and more efficient. Thus, for the sixth spot, lean manufacturing principles help make companies alleviate and prevent waiting time.

Lastly, because the environment is cleared from all obstacles and disturbance, lean manufacturing helps companies avoid the production of goods with scraps and defects.

Companies producing merchandise and outputs with scraps and defects not only suffer from losses from the production of such substandard products, they also lose customers because their credibility are destroyed and tainted.

Companies that successfully implement lean manufacturing principles

There are more and more companies around the world that successfully implement lean manufacturing techniques and principles in their daily operation.

It should be noted that companies that use lean manufacturing with success are characterized by one and a single unifying feature--- all of them are profitable and strong.

Companies that use lean manufacturing with success are also notably very competitive amid intense and rising competition in the corporate world.






Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Unlocking Keys of Wealth Creation by Working Smartly.




In one's quest to be a successful person, work ethic and perseverance is the traditional key to reach our dreams. Since we started learning that hard work pays off, we come to think that each step of activity will get us where we want to be. However, for people who want to be self-made Millionaires, they know that a lot more is at stake.
In a changing financial mindset, self-made millionaire Jamie McIntyre believes that hard work is not enough. The truth is, if hard work is the end of it all then there should be more successful people. After all, can we actually say to ourselves that we have outworked everyone? Even when we worked at our utmost capacity, we know that someone can still outwork us. Thus, when it comes to adapting a millionaire's mindset, hard work does not hold much water.
This is the value of a successful financial strategy. Along with a changing mindset, financial strategies are a reflection of smart work. As Jamie McIntyre said, "working hard and making money have nothing to do with each other in the 21st century." Hard work can surely take you places. However, if you want to make money, you have to care more than "working hard."
Let us take the example of Jamie McIntrye's father. As a farmer, his father is now a prosperous and financially independent person at his age. Learning from Jamie's grandfather, his father believed that hard work is the key to success. Even when he became rich he still believed in that. However, hard work is just an integral part of being rich. His father instead found a way to create wealth by buying land at a low price and waited to increase its value over a period of time. All the while, his wealth is created even while sleeping. Where is the hard work in that? Finding a successful strategy is more about intuition and changing perception. Sometimes hard work even blinds us to a point that we stop thinking and that is when things can get frisky. If you want to develop a successful financial strategy, start thinking.
Another well driven financial strategy is finding the opportunities in risks. As you can imagine, these strategies are not your normal laundry methods where you wash, dry, and repeat. Finding the best opportunities involves having the heart and the focus to make tough decisions despite the overwhelming forces that can stop you from acting on your instinct.
Jamie McIntyre continues his family story in driving this point. His mother always wanted a coffee shop that she could own for herself. Seeing the opportunity, her mother bought a coffee shop business. However, when the seller also offered the building where the coffee shop is located, she did not buy it since that would mean borrowing the needed money to finance the purchase of the building.
As the years go by, she struggled to manage her coffee shop to a point that she did not pay herself a salary. What more, she struggled to pay the rent of the building that could have been hers. In the end all her hard work in what seems to be a promising business, turned into more hard work. The spiral continues.
In this example, Jamie McIntyre tells us that if we are presented with an opportunity, it is not enough to think hard. Thinking hard involves being too hesitant while losing the will to act. Meanwhile, thinking smart will allow us to see the opportunities before the hindrances speak to us. Jamie explained that if her mother made the right move and bought the building, she could have been presented with more successful options.
Successful financial strategies come from an evolving financial mindset and the gut to act on your financial instinct. Thus, the biggest return does not come from hard work. Instead, it comes from unlocking keys of wealth creation by working smartly.
Next Step: Crowe Horwath Jamaica provides guidance in the implementation of successful Financial Strategies. Email us at:info@crowehorwath.com.jm




Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Jamaica:Internal Audit Services


Internal Audit

Internal Audit

The role of the internal audit function is critical for the success of any risk management framework within an organization. The main obligation of internal auditors is to evaluate whether other risk systems and controls in place within the firm are operating effectively to manage and mitigate risks or not. Such an independent evaluation of the firm’s control functions will go a long way in enriching the systems and procedures that are followed.
We believe in establishing a solid business relationship with our clients based on transparency and continuous communication so as to enhance the quality of the internal audit functions that we perform. We encourage our clients to participate in every step of the audit programme, to arrive at comprehensive solutions that are an advantage to every firm that we work with.

 How we can help:
Crowe Horwath Jamaica internal audit specialists adopt a risk-based approach in evaluating the client’s operational effectiveness, financial systems and controls and compliance with laws and regulations. In addition to that, while preparing our audit plan and report, we also consider challenges and opportunities applicable to the organization. Our internal audit report also contains recommendations for the firm to implement, which are formulated keeping in mind the firm’s objectives and limitations.
We also strongly believe in actively following-up with the firm’s management regarding implementation of the recommendations in the audit report.
The services we offer in this regard include:
  • Interim Audit
  • Concurrent Audit
  • Management Audit
  • System Audit
  • Investigation




Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Entertainment Consulting Services in Jamaica


The entertainment industry is subject to frequent change all around the world . In order to establish and continue successfully in the competitive world, entertainment companies must adapt to the varied preferences and expectations of the consumers. Besides facing the daily challenges associated with this industry, the business must determine its organizational goals and design strategic solutions to achieve them in the most economical way.
Stiff competition is prevalent in the entertainment sector, making it essential for businesses to progress according to changing trends. Crowe Horwath Jamaica provides our clients with a broad spectrum of performance consulting services. We operate in both public and private sector agencies, making use of our extensive knowledge in implementing carefully planned strategies. Our team conducts effective feasibility studies and analysis to determine an organization’s value and its impact on the economy.
Over the years, we have had dealings with national and international companies, as well as personalities from various verticals of media like actors, musicians, athletes etc. Our professional team comprises of partners, accountants and bookkeepers who can provide assistance in solving problems faced by the entertainment industry daily. We take pride in our remarkable technical expertise and the personal relationship we maintain with our clients in delivering expert advice. Our commitment to client satisfaction drives us to implement new and meticulously planned strategies while investing in personnel.
  Our team is actively involved in:  
  • Providing consulting services on business ownership and cost capital. 
  • Regular participation in advisory meetings. 
  • Conducting reviews and assistance in contract negotiation. 
  • Business plans. 
  • Catalog valuations. 
  • Concept development and planning services based on the development master plan. 
  • Implementing marketing, investment and development strategies. 
  • Market studies for the various kinds of project elements. 
  • Cash flow projections. 
  • Analysis of project investment.  
  • Assisting in identifying qualified potential operators and financing partners.

Saturday, February 18, 2017

7 Ways To Fail In An ERP Selection



The best way to fail at an Enterprise Resource Planning (ERP) implementation is to choose the wrong software up front. Choosing software without following some basic guidelines is a sure-fire method for disaster. Probably the worst thing that someone has done (that we know of), was to buy their ERP software at a tradeshow, thinking it would be the cheap and easy way to solve their problems. They ended up spending more than they expected in finding ways to force the software into their business.

Below are some ways that will set you on the path to fail at your choice. In other words, they are ways that you can insure that you will choose the wrong system for your company.

1. Choose ERP software without understanding your requirements. – First, you should ensure that you are getting the best fit for your company by documenting your requirements. The requirements should cover the strategic, reporting, functional, and technical aspects of what your company requires to run the business. Choosing software without these documented and without using them as a benchmark to compare the software against is a strategy for problems.

2. Select ERP software without paying attention to business processes. – There are certain ways that you run your business. Not all of them are rocket science, but there are certain things that make your company unique and successful. Choosing software without understanding how things flow in your company will create big problems in the implementation when the software processes information contrary to how you run your business.

3. Choose ERP software because your Friend/Neighbor/Relative is using it successfully at their firm. – Another nightmare scenario that has actually occurred is that decision makers have purchased software because their FRIEND has used it and it worked great at that company. That company is not your company. On the surface they may seem similar, but just because one company is running well on the ERP system does not mean that yours will. You may have a special process for getting your goods out the door. The software may not support that method. Perhaps there is some information that you must have because of financial, regulatory, or supply chain requirements. The other company may not have that issue. Perhaps you need to track lot numbers and the Friend's company does not. There are too many business issues that can create havoc in an information system, if the system is not carefully matched to the requirements (see #1).

4. Not having the ERP vendor prove that it will support your business processes. – ERP vendors have one goal. Sell you software. Do they care if it fits, can successfully operate your business, or even if it will be a huge burden on your staff? Not really. In fact, if you buy software that requires a lot of care and feeding because it is not a good fit, then the vendor is the one who supports it and makes a handsome flow of income off your company. Get the vendor to demonstrate that it meets your requirements and can transact information in a method that is aligned with your business processes.

5. Choosing ERP software because it looks cool. – You may laugh at this one, but the user interface is a sexy selling point of many systems. Is a plain old green-screen as nice to work in as a really colorful Windows ™ screen? Probably not, but does the Windows™-based system really address your issues? Your goal should be aligning a perspective system with your business needs. If it comes with a cool interface great, if not, can you live with it?

6. Let the ERP vendor tell you what you need to be doing. – Related to number 4 above, having the ERP vendor guide you in your selection is a roadmap to hell. You need to guide them. Tell them what you want and expect. Too many times has a single vendor gained the trust and confidence of a decision maker and guided them to a particular system, without any concern for how close a match is it to the business requirements and processes.

7. Take the ERP vendor's first offer without negotiating. – You can generally negotiate with a vendor several times and get a more than fair price. But the key is to follow good negotiation tactics. Don't forget that most everything is negotiable. The software, the services, the maintenance, the timing, etc. In the ERP industry, the best time to buy software is at the quarter or year end according to the vendor's financial calendar.

The key thing to understand is that there is a path that can lead you to success and many routes to failure. Know thyself first. Understand your business and document it. It is not enough to think you know it. Talk to all levels of users and managers. Ensure that everyone's needs are defined and a priority is placed upon those needs. If you are not sure of selecting a major investment such as an ERP, then get outside help from a consultant who is non-biased towards systems and can guide you.

Most importantly, understand that you need to drive the process. It is your selection and you need to live with the results. As any good project manager will tell you, start with the end in mind. What do you want the system to do for your company now and in seven years from now? Understand this and go forward in selecting your system.


What to do if you receive summons from Tax Office

Tax Disputes

Current practice has shown that the tax authorities have increased the tax audits regarding Individual and Companies , which means more tax assessments and additional burden to the audited persons. It is not in the interest of any person to agree with unfair tax assessment or control procedure, however challenging the decision of the tax authorities is time consuming and complicated process. We can help you to find the most appropriate, fastest and effective solution in case of tax disputes or in case of challenging the tax authorities decisions, so that you could focus on your main business activities.
In case companies have tax disputes with the tax authorities or tax disputes in the court, we could help compose and submit objection or appeal documents and provide with you with the necessary support and assistance throughout the whole dispute process.
Crowe Horwath Jamaica can assist you with following:
  • Preparing appeals and submitting them to the tax authorities
  • Consulting in court disputes
  • Consulting and representing in case of disputes with tax authorities
  • Explaining the problems and representing the client’s needs to the tax authorities.
Please feel free to contact us with any questions regarding tax services.