###### Cyber Threat Intelligence & Incident Response ----- ###### Thomas Thomasen Senior Manager, Threat Intelligence Specialist PART OF DELOITTE’S GLOBAL CYBER THREAT INTELLIGENCE TEAM & DELOITTE DK’S IR TEAM FORMER ANALYST AT DANISH DEFENCE. MSC THEORY AND HISTORY OF INTERNATIONAL RELATIONS I LOVE THE HUNT! ----- ----- ###### Agenda 1. Our Worldview – THE BIG PICTURE 2. What is Threat Intelligence? 3. Intelligence-driven Incident Response ----- ----- ###### What is? Threat Intelligence Unwrapping ‘Understand’ Challenge New threats emerge, and it is challenging for most organizations to proactively scan, assess and understand the many issues and dynamic risks that impact their business. It is also hard to objectively identify own weaknesses, and thereby define and operationalize own risk appetite. Organizations needs to increase their situational awareness – from yearly transitioning to daily Why is it needed • Reduce time to detect and respond to cyber incidents by massively expanding monitoring coverage of IT infrastructure  Focus on endpoint monitoring and response to increase radius of action  Fully adopt real-time analytics in monitoring  Obtain deeper visibility in partner compliance (e.g. via monitoring) ###### Understand your business • Crown jewels Core components • Threat Intelligence • Risk Analytics • Business impact analysis (Crown Jewels) • Vulnerability assessments • Actualized Risk appetite reporting Threat Landscape • Who might attack? • What are they after? • What tactics will they use? ----- ###### What is Threat Intelligence? Threat intelligence is actionable knowledge and insight on adversaries and their malicious activities enabling defenders and their organizations to reduce risks through better security decision-making. (From Sergio Caltagirone) ----- ###### • Who adversaries are • What adversaries use • Where adversaries target • When adversaries act • Why adversaries attack • How adversaries operate ----- ###### Threat intelligence is not a feed of observables such as IP addresses, domains or hashes ----- ----- ###### GENESIS: How is Cyber Threat Intelligence Created? ###### Threat Intelligence Production Lifecycle ###### Dissemination Activities associated with the distribution, integration and sharing of intelligence products with the appropriate teams and/or technologies to be actioned accordingly Production Activities associated with the generation of intelligence products and outputs [e.g. threat advisories, intelligence feeds] ###### Planning & Direction Activities associated with mapping of business risks to threats and creating PIRs & IRs to set the direction for collections activities Collection & Triage Activities associated with monitoring of data and intelligence sources for relevant threats and triage of the information collected ###### 5 1 4 2 3 ###### Analysis Activities associated with the analysis of information about threats, assessment of associated risks and development of courses of action to protect against the threats and mitigate ----- ----- ###### Defining Intelligence Requirements and Risks |Commander’s Critical Information Requirements|Col2|Col3| |---|---|---| |PIR|SIR|EEI| |Which adverseries target naval industry?|Which TTPs are leveraged by Temp.PERISCOPE against targets?|How does the actor perform reconnaisance?| |||Which techniques are used in spear phishing emails?| |||Which implants are utilized by the actors?| |||Which tactics does the actor use post- compromise?| |||Which NBI is current depoyed by the actor?| ----- ``` GET /templater.hta HTTP/1.1 Accept: */* Accept-Encoding: gzip, deflate User-Agent: Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 6.1; Trident/4.0; SLCC2; .NET CLR 2.0.50727; .NET CLR 3.5.30729; .NET CLR 3.0.30729; Media Center PC 6.0; .NET4.0C; .NET4.0E) Host: www.thyssenkrupp-marinesystems.org Connection: Keep-Alive ``` ----- #### P I V O T I N G ----- ----- ###### "[Green] pid=%d tid=%d modulePath=%s|" ###### Interesting… we will get back to this ----- ----- ### Tying it together ----- ###### TEMP.PERISCOPE State-sponsored, mission-driven adversary conducting espionage activities to fulfil predefined EEIs DIAMOND INFRASTRUCTURE Various VPS providers VICTOMOLOGY Nexus of CDCs, Universities, Aerospace as well as Engineering, Chemical, Government, Shipping Sectors ###### TEMP.PERISCOPE DIAMOND MODEL VICTOMOLOGY ----- ----- ###### What is? Intelligence-driven incident response Unwrapping ‘prepare’ Challenge ###### Many organizations fail to coordinate across silos or link crisis management plans with overall strategy and so their efforts are not cost-effective, focused on the most critical scenarios or in line with high level performance objectives. What is needed? Preparation and planning is key to managing a crisis: • Decide what is important • Clearly define roles & responsibilities • Plan for critical risk scenarios • Ensure contingencies and sufficient resources • Set up systems and partners • Train and communicate plans ###### Core components • Wargaming • Intelligence-led red/blue teaming • Crisis management strategy • Stakeholder dialogue • Business continuity management and planning • Communication plans • Issue management • Executive and spokesperson training. ###### Eradication ----- ###### What is? Intelligence-driven incident response Unwrapping ‘Control’ Challenge When a crisis occurs, the executive response is highly scrutinized and must be rapid, coordinated and precise. Information is imperfect, things escalate quickly, and mistakes are very costly to the reputation of the company – and increasingly to its leaders. What is needed? Acting quickly and in control takes decisiveness: • Mobilize crisis management team and support • Decide your strategic intent • Find necessary information • Formulate position and key message • Contain the situation • Communicate with internal and external stakeholders • Evaluate continuously. Core components • Executive coaching, advice and 2[nd] opinion • (Cyber) incident response • Forensics & intelligence • Crisis communication ----- ###### What is? Intelligence-driven incident response Unwrapping ‘Recover’ Challenge Without attention and focus, recovery can be slow and the loss of trust, disruptions to the business, and damage to key relationships can linger. It is easy to neglect the fact that much of the real work begins after the storm is over. What is needed? ###### Recovery after a major crisis takes focus and effort: • Understand the crisis impact • Adjust strategy • Identify priorities and assign organizational ownership • Coordinate medium and long-term plans • Liaise with important stakeholders and partners • Follow-up with authorities where relevant ###### Core components • Impact assessment • Forensics • Post Event Recovery Office • Strategy and plan revision • Stakeholder management • Corporate communication. ----- ----- ###### What is? Intelligence-driven incident response Unwrapping ‘Learn’ Challenge ###### Often mistakes are repeated because organizations fail to learn from crisis post-mortems, rely on tacit knowledge, fail to train or to dedicate enough resources to thoroughly test their written plans through for example carefully scripted simulations. What is needed? • Learning leads to improvements if the opportunity is not squandered: • Identify what went wrong • Adjust plans & procedures • Increase efforts as needed • Test and simulate identified risk scenarios • Continuously train across organization ###### Understand your business • Crown jewels Core components • Post-crisis evaluation • Simulations & war games • Penetration tests, ethical hacking • Behavioral and cultural transformation • Standards and certifications ###### Exploit ----- ----- ###### Please reach out Thomas Thomasen tthomasen@deloitte.dk 30 93 46 19 ###### Find det fulde program på grabngo.deloitte.dk ----- ###### Tax Transformation Jonas Reinholdt Albjerg ----- ###### Changing environment for tax Trends impacting tax departments ###### Trends impacting tax departments ###### Global regulatory changes ###### Rapidly changing technology ###### Brand risk ###### Global transparency ###### Limited resources ###### Add more value ----- ###### Rapidly changing technology Trends impacting tax departments (continued) ----- ###### Rapidly changing technology Tax in a digital world is already with us ###### How will global tax groups be affected by data sharing between authorities? ###### What decisions will be made by humans and what will machines decide in the future? ###### What is a tax department of the future - talent models, skills and work methods? ###### How will tax authorities move to real-time reporting affect the practice of tax? ----- ###### A rapidly changing environment SAF-T, real-time reporting and other requirements overview (as of October 2018) While not exhaustive, the following map highlights key country requirements for SAF-T, e-audit and real-time reporting requirements, particularly within Europe. New legislation is coming out frequently which reflects the dynamic nature of this area. **UK** - ‘Making Tax Digital’ (MTD) - Digitization of tax submissions - VAT only from April 2019 **Ireland** - **Electronic submission** **of Payroll Tax Data** **from 2019 at time of** **payment** **Luxembourg** - SAF-T applicable - OECD SAF-T based: GL, invoices, payments, customers, suppliers, tax table - Upon request **France** - Reduced SAF-T applicable - Data of statutory accounting - Upon request **Portugal** - SAF-T applicable - GL, supplier and customer info, tax table, invoices, product tables - Both monthly and upon request - **B2G eInvoicing from 2019** **Spain** - Spanish SII implemented in 2017 **Austria** - SAF-T applicable - Depends on requested information - Upon request **Brazil** - SPED system - Disclose full invoice details **Romania** - SAF-T- not applicable - E-audit- not applicable, but, based on the law, it is an option further to be implemented - RTR- mandatory for large taxpayers, optional for the rest **Netherlands** - SAF-T applicable (XAF) - Financial GL data - Optional regime **Germany** - SAF-T applicable (GoBD) - Depending on the scope of audit - Upon request SAF-T financial data currently optional. It will become mandatory upon request from January 2020 **United Arab Emirates** - Introduction of the FAF file expected **Hungary** - Data export function on invoicing software since 1 January 2016 - Online connection established between invoice invoicing software and the tax authorities’ system as of 1 July 2017 - Submission of electronic invoice details from 1 July 2018 **Lithuania** - SAF-T applicable (i.SAF) for VAT invoices (issued and received), also additional customs information, i.e. i.VAZ for the submission of data on consignment and other goods documents. On a regular basis since 1 October 2016 **Kazakhstan** - SAF-T expected in 2019 - On a voluntary basis **Russia** - Comprehensive invoice details filed with VAT return **Poland** - SAF-T applicable (JPK) since 1 July 2016 - Monthly submission of VAT ledger - Several other files upon request (bank statements, warehouse info, comprehensive GL info) to be available upon request **China** - **Electronic Financial Statements - 2019** - Golden Tax system - Disclose full invoice details before obtaining valid invoice number - No SAF-T or e-audit **Malaysia** - **With GST repealed GST audit file (GAF) is** **no longer applicable** - **With SST reinstated we expect GAF like to** **be introduced soon** **Singapore** - Simplified SAF-T: IRAS Audit File (IAF) - Upon request **Australia** - E-audit introduced recently but upon request - No SAF-T **Indonesia** - E-invoice mandatory - No SAF-T or E-audit **Slovenia** - Standardized file used for electronic tax data in general - Used in tax audit and similar procedures - Upon request **South Africa** - ‘IT14SD’ reconciliation of ----- ### Tax data in ERP ----- ###### A changing environment Example on SAP roadmap to S/4 HANA ###### Example on SAP roadmap to S/4 HANA ----- ###### Tax part of your finance transformation? Hot topics The tax environment continues to evolve at an increasing rate, particularly in light of additional legislative requirements, and new finance and tax technologies. ###### 1. SAF-T, eAudit and real-time reporting • Electronic transfer of large datasets to tax authorities. • Move towards real-time reporting with daily or monthly submissions of 100+ data points, including e-invoicing. • Covers multiple areas, including GL, AP, AR, FA, cash, and journal data. 2. Making Tax Digital • From April 2019, the UK VAT return should be digitally submitted to HMRC via an API, with digital links between systems involved in the VAT return process, including ERP systems. • Other taxes to follow after VAT. 3. US Tax Reform • US Tax Reform impacting global organisations with a US footprint mean additional compliance requirements and potential impact on system set-up. Also consider impact of Wayfair decision on local nexus 4. SAP S/4 HANA and tax solutions • Organisations to move from ECC/ERP to SAP HANA S/4 • In addition, HANA has 4 dedicated new tax products, including a tax engine, an external tax reporting solution, an e-docs solution, and a data ###### 5. VAT complexity • VAT complexity is increasing from place of supply rules across borders to the provision of digital services and digital invoicing. • Obtaining partial exemption data or calculating mixed recovery rates in systems is becoming increasingly more sophisticated. 6. BEPS & Country-By-Country Reporting • BEPS guidelines are designed to stop artificial movement of profits to low-tax jurisdictions. • CBCR is a reporting tool gathering financial and non-financial data such as revenue and tax paid, or employee numbers and business activity. 7. Operational Transfer Pricing • Parts of the BEPS agenda focus on how profits are linked to the underlying activity. • Operational TP supports real time review of prices against actual and forecast data. • Tax and finance can make joint price setting decisions for recharges. 8. Data Data is becoming more and more important for many reasons. Advances in technology and increasing legislation (e.g. GDPR) means that the importance of d t t b i d d d d i ti l ki t h t d t ----- ###### Tax part of your finance transformation? why is it important to consider tax when implementing ERP • Ever increasing (and often system-intrusive) legislative requirements means that tax cannot be ignored when implementing finance transformation programmes. In addition, there are a number of reasons why tax has to be considered differently from other finance processes. These include: • Tax spans the system – other processes are naturally grouped by business function (finance, supply chain, etc.); tax has dependencies across all of these areas • The number of different taxes within ‘tax’ – it cannot be viewed as a single process, but must consider a wide range of different elements including corporate taxes; VAT; transfer pricing; withholding taxes; employee tax reporting requirements (even where payroll is not in scope); • Getting tax right is a statutory requirement - ‘nearly right’ is not an option, there are reputational and financial penalties for non compliance and, in some jurisdictions, even criminal sanctions. BEPS Actions as well as newer requirements around eAudit and eFilings looking to increase the need for compliant systems and processes for tax (see Systems Audit below). • Cash benefits to be gained – it is our usual experience that, by providing more tax-optimised data from the system, there can be substantial cash savings globally to the business. This usually only requires finessing of the system design, rather than wholesale changes so does not attract a large cost – the savings are most commonly found in the jurisdictions where there is no in-country tax team and we have a checklist of accelerators to identify such savings (see Common Areas of Benefit slide). • The level of localisation required – each jurisdiction has a unique set of tax requirements – whilst these can usually be pooled into groups of countries with similar requirements, the amount of localisation required for tax (and standardised processes) is often underestimated and this impacts adversely on the quality of the final design that can be achieved. • Systems audit – much more systems data and information is being collected by Tax Authorities which opens up an organisation’s ERP systems to much more scrutiny than ever before. This includes newer global requirements around e-audit and e-filing of detailed information directly from core systems, e.g. SAF-T and iXBRL in Europe and SPED in Brazil. ----- ###### Tax part of your finance transformation? Common failures in ERP and tax System failures… • Tax determination logic: automation can still contain errors, manual leaves determination open to human error • Tax codes: often insufficient tax codes to meet reporting requirements leading to manual intervention • Reporting: standard reports often insufficient for each country • Invoicing: layout or number sequences can be incorrect • Foreign VAT: challenge to accommodate tax regimes and rules • Master Data: Fields not set-up correctly, not mandatory, not owned Other failures… • Manual Work, Duplication of Effort, Interfaces: all raise risks • Ownership: process and master data ownership not clear • Training: inadequate for tax function on tax technology, and business on tax items • Communication: not joined up approach during or after implementation • Documentation: either insufficient or too technical ----- ###### Tax part of your finance transformation? However, the benefits of doing it right Monetary… • Global tax burden: May be improved with commercially integrated tax planning • Cash flow benefits: accuracy, timing, earlier reclaims, bad debts Data and Processes… • Data Capture: improved data capture leading to more accurate tax treatment • Transparency: transparent data allowing drill-down into details • Consistency: Effective process with data applied consistently across the organisation • Documentation: easier succession planning, and improve relations with tax authority • Reconciliation: reduced reconciliation needed e.g. Intrastats to VAT return • Pricing: difficult to get transparency and detailed data for pricing for transfer pricing purposes • Errors: Potential for high profile errors reduced Resources… • Investigations: reduced cost of compliance to respond to enquiries and/or investigations • Errors: reduces manual effort leading to reduction in cost and potential for human error • Timely and accurate: no need to rework data so can focus on value-added activities ----- ----- ### Tax Transformation Change in operating model: insource, outsource, operate ----- ###### Tax Transformation Why tax? Why now? - trends Globalisation Companies are increasing cross-border investments to grow and diversify and they are leveraging new delivery models. Competition Lower economic growth is causing an increasing need to put capital to work and grow the top line. Higher competitive intensity due to new competitors, markets, and business models playing more important roles. Scalability There are an increasing number of companies entering into transactions to create shareholder value such as split ups, spinoffs, acquisitions and divestures. Tax needs to have scale and agility to support these transactions. ###### Technology Technology increases efficiency and ability to meet evolving demands; allows for deeper insights through data analytics and greater focus on high value add activities |Col1|Business complexity and regulation Navigating current and changing tax laws in multiple jurisdictions adds complexity, heightening sensitivity to risk| |---|---| ||Talent Tax departments have increased need for personnel with advanced technology and business skills and capabilities in project management, leadership, and planning.| ||Technology Technology increases efficiency and ability to meet evolving demands; allows for deeper insights through data analytics and greater focus on high value add activities| ----- ###### Tax Transformation What should a future operating model look like? ###### The changing environment for tax ###### Global regulatory changes ###### Brand risk ###### Global transparency ###### Rapidly changing technology ###### Limited resources ###### Need to add more value ###### New operating models are needed Big data, powerful technology, decreasing tax rates and inquisitive regulators are enabling the digitization of tax and a proliferation of tax operating models Client Third Party Finding opportunity in change ###### Operations • Reduce costs • Right-size global spend • Alleviate resource constraints • Reinvest in other areas of the business ###### Insource Outsource Operate ###### Technology • Transformed tax processes and technology • Access to leading-edge technology • Streamlined compliance ###### Talent • Access to leading tax specialists • Reduce difficulty of hiring and retaining tax professionals • Solutions could include redeployment, loan staff, and ----- ###### Tax Transformation Finding opportunity in change - the levers for change Operations Technology Talent ###### Operations ###### Talent ###### • Reduce costs • Right-size global spend • Alleviate resource constraints • Reinvest in other areas of the business ###### Technology ###### • Transformed tax processes and technology • Access to leading-edge technology • Maintain quality • Streamlined compliance and advisory and reporting ###### • Futureproof your resource with a pool of tax and technology specialists • Permanent, contract, secondee, outsource and talent transfer options ----- ###### Tax Transformation Finding opportunity in change There isn’t a one size fits all approach when it comes to tax operating models ----- ##### The future of work ----- ----- ###### The future of work Resources in a tax department TECHNICAL & ANALYTICAL ###### Testing & Validation Defining, developing, and implementing quality assurance practices and procedures for tax technical solutions and validating hypotheses. SQL Querying Querying and manipulating tax data to facilitate the solving of more complex problems. ###### BUSINESS & COMMUNICATION Technology Alignment Understanding how technology can be leveraged to solve tax business problems. ###### Macro-Perspective Understanding of the Primark’s business strategy, current business issues and priorities and current industry trends. Business Knowledge Understanding of tax business measurements of key performance indicators and business frameworks. Business Commentary Articulation of insight to explain current and forecasted trends, their impact and opportunities for the business. ###### Data Modelling Structuring tax data to enable the analysis of information, both internal and external to the business. Data Analysis Valuating data using analytical and logistical reasoning for the discovery of tax insight, e.g. predictive modelling. Reporting Software Understanding of the underlying theory and application of key tax reporting software. ###### Soft Skills Communication and interpersonal skills are necessary to articulate insight gained from analysis. ----- ##### Technology accessible for everyone ----- ###### This diagram shows the overall technology landscape for the global business tax record to report cycle. It sets out key product categories and the major products in those categories. ###### Source Business Systems **ERP Systems** - SAP HANA - Oracle, incl. JDE & PeopleSoft - Microsoft Dynamics NAV - Digita - Sage **Consolidation, Business** **Intelligence and Enterprise** **Performance Management** - Oracle EPM - Oracle HFM - SAP EPM - IBM Cognos - Longview CPM ###### Indirect Tax Determination - ONESOURCE Indirect Tax Determination - Vertex Indirect Tax Solutions - Taxware - FuelQuest - Native ERP - Avalara - Add-ins/ons/boutique solutions ###### Transfer Pricing ###### Tax Data Stores **Entity-Level** - Multiple products **Consolidated** - Deloitte VAT Smart - Microsoft Navision - CCH Global Integrator - Deloitte Conversion Tool (DCT) **Enterprise-Level** - Vertex Enterprise - ONESOURCE Operational TP - Oracle - Corptax TP Architect - PebbleAge Hyperion TP - Oracle Hyperion Operational TP - SAP PCM ###### TP Documentation |Source Business Systems Tax Dat W Consolidation Single ERP Tax Determination Conso Accounting s/w Excel Enterp Other Systems|a Stores Proce TAX DASHBOARD orkflow, Status, Documents, Analyti Forec entity Provi Transfe lidated Tax ret Stat Acc rise Report|ssing Key O cs Fore asting Tax risk sionin g Provi r Pricing Returns, For CbC Re urn s/w TP docum ount s/w Statutory writers Work|utputs casts reports sions ms e-filings porting entation accounts papers| |---|---|---|---| Master Data Management - Deloitte Digital Dox - ONESOURCE Documenter - CCH Global TP library - Benchmarking ###### Master Data Management ###### Global Provision ###### Direct Tax Return ###### Indirect Tax Return ###### Accounts Production - IBM InfoSphere MDM - SAP Netweaver MDM - Oracle MDM - Microsoft SQL Server - Oracle Hyperion Tax Provision - ONESOURCE Tax Provision - Longview Tax Provision - Corptax Provision - ONESOUCE Corporate Tax - Corptax - Alphatax - Datev - ONESOURCE Indirect Tax - Vertex VAT Returns - iVAT - Sales and Use products (US) - CaseWare Accounts - CCH Accounts Production - IRIS Accounts Production - ONESOURCE Statutory Reporting ----- ##### Learning to love the robot ----- ###### Robotic Process Automation: Tax Identifying your benefits ----- ###### Robotic Process Automation: Tax Processes and activities Function Components Corporate Indirect Tax Employment Transfer Income Tax compliance Tax Pricing |Col1|Record to Report processes|Col3|Governance and Business Partnering| |---|---|---|---| ###### Operational Taxes ###### Governance and Risk ###### Corporate Entity Management ###### Transactions and Advisory ###### Core activities The compliance process ###### Payroll compliance ###### Financial Stamp and ETR Benchmarking Cash Tax statements Transactional Annual Report production Tax management ###### Tax Audits / Enquiries ###### CIT return ###### VAT / GST returns ###### Benefits reporting ###### Withholding Tax Electronic Audit / Digital Tax Authorities ###### Year end and interim reporting ###### Audit management ###### Shareholders ###### Tax Payments ###### Statistical reporting ###### Contracting ###### Tax structuring ###### Leavers / joiners ###### Operational TP - Profitability Management ###### Forecasting and planning ###### National Bank Filings / statistical reporting ###### Capital Gains Tax ###### Controls Frameworks ###### Local country filings ###### Managing VAT registrations ###### Boards ###### Mergers and Acquisitions ###### Country by Country Reporting ###### Record to report ###### Operational Tax Reporting ###### Regulation and compliance ###### Global mobility ###### Operational TP – Cost Allocations ###### Uncertain tax positions ###### Supply chain Tax Strategy Management & Corporate Affairs ###### Transfer Pricing documentation ###### Credits / Incentives ###### Executive remuneration ###### Subsidiaries Workflow management & status monitoring ###### Country by Country Reporting ###### RPA sustainability* ###### Low High ----- ###### SAM your personal VAT assistant |Col1|Col2|Col3|TSHIDISE UP|TSHIDISE UP| |---|---|---|---|---| ||Type of trade goods or services|||| |TSHIDISE UP||TSHIDISE UP|TSHIDISE UP|TSHIDISE UP| |a list of your tax codes|Col2|Col3|Col4|Col5|Col6| |---|---|---|---|---|---| ||||a list of your tax codes||| ||||||| ||||||| ###### Onboarding of client information: to reduce the # of questions SAM must ask to come to a VAT conclusion ###### SAM is a team member you can count on! ----- ###### Just uncovering the possibilities ----- ###### Click the link to see a demo ----- ##### Get ready for the jump ###### Understand what the emerging ----- ###### Is your organization up for the challenge? The digital wave disrupting whole industries is now making its way to the tax department. The future of tax will see technology picking up the bulk of manual and repetitive work. The human workforce will represent a diverse cross-section of skills focused mainly on tax planning for the organization. The workplace will be more networked, devolved, mobile, team, and project-based, collaborative, real-time, and fluid than ever before. In this future, tax professionals face new demands. Critical reasoning and thinking skills, the ability to connect the dots across multiple areas, and a deep understanding of the business will become as essential as the technical tax experience they worked so hard to acquire. Done well, however, this future has the potential to be the most engaging and fulfilling in the history of a much-respected profession ----- # Visualize your ##### - Tax Technology Roadmap - Tax Operating Model - Tax Control Framework ----- ##### CONNECT THROUGH ## “To accomplish great ##### LINKEDIN ###### JONAS REINHOLDT ALBJERG ## things we must dream as well as act.” ###### A N A T O L E F R A N C E ----- ###### Jonas Reinholdt Albjerg Senior Manager, Tax Management Consulting T +45 30 93 6272 E joalbjerg@deloitte.dk ----- ###### Find det fulde program på grabngo.deloitte.dk ----- ### Appendix ----- ###### Appendix 1: VATbot SAM The Chatbot for EU VAT advice Sample of the types of goods and services included in standard setting Fruit Tablet On site supervision Passenger transport:bus Wine (gift) Transport service of goods to a place outside EU (export of goods) Transport of goods under a customs suspension regime (e.g. from customs Cookies Phone device Security services Passenger transport: taxi Champagne (gift) warehouse to another customs warehouse) Coffee Phone subscription Royalties Passenger transport: train Porto (gift) Sugar Computer devices Speaker fees / presenter fees Passenger transport: domestic flight Alcoholic spirits (gift) Storage of goods for which a specific part of the property is assigned for the exclusive use of the customer AND lessee does not invoice additional handling services (e.g. (un)loading, packing) Storage of goods for which a specific part of the property is assigned for the exclusive use of the customer BUT lessee invoices additional handling services (e.g. (un)loading, packing) Storage of goods for which no specific part of the property is assigned for Milk Internet connection Accountancy fees Passenger transport: cross border flight Restaurant services the exclusive use of the customer Catering services for event focused on relationship building Soft drinks Television Advertising services Hotel costs Transhipment services (loading - unloading) (not on direct sales) Restaurant service (breakfast, dinner) invoiced by Bottled water Television subscription Call center services Hotel Organization events (e.g.. room rental, hostesses,..) Supply of staff focused on relationship building (not on direct sales) Tea Voice over IP Insurance fees Restaurant service Business loges (including food and drinks) Shoes (professional clothing) Nuts Tap water (water distribution) Interest charges Car (less than 30 days) Promotional gadgets with company logo Clothes (professional clothing) Seeds Electricity Administrative bank charges Parking costs Promotional gadgets without company logo Chocolates Gas Postal services (letters) Online course (education) Samples Coffee sweetners (subsitute for Plants (for decoration) Postal services (packages) Offline educational course not including catering Products used for tasting sugar) Offline educational course including Organization promotional events (e.g. room rental, Plasters Flowers (for decoration) Membership fee lunch/dinner/breakfast hostesses,..) Band aids Art objects (for decoration) Data processing services Take away meals Catering costs promotional event Stand location at a fair or exhibition site together with Soup Furniture Fleet management Restaurant (social event - team building) other related services (i.e. Cable laying, insurance and advertising,…) Catering services on employee event (Saint Stand location at a fair or exhibition site with limited extra Minute soup Toilet paper Graphic design services Nicolas, New year, retirement party, Christmas services party, ..) Registered medicines (for Hand soap Translation services Food (ingredients) for employee event Access ticket to a trade fair headache, nausea) Paper journals and magazines Real estate IT services Alcohol for employee event Bicycles other place of supply rules,…). (only on paper) Paper journals and magazines Sponsoring (without something in (also accessible in electronic Immovable good Other costs employee event Passenger cars return) format) Sponsoring (with some sort of Electronic journals and papers Alarm system Meal vouchers Fuel for passenger car advertising in return) Consulting services (not related Paper books Telecom network Catering services company restaurant Light trucks to real estate) Management fees from private Electronic books Fixed furniture Access ticket theater (gift) Fuel for light truck individual Management fees from legal Printed business cards Kitchen Access ticket cinema (gift) Trucks entity Printed commercial brochures External rollers or shutters Emission rights Access ticket musea (gift) Fuel for truck Printed calendars Internal rollers or shutters Software license Access sport match (gift) Scrap Print paper Airconditioning Streaming services Access concert (gift) Machine (permanently fixed to the ground) Small office equipment Heating Payroll services Tabac (gift) Machine (not permanently fixed to the ground) (pens paperclips ) |Plasters Flowers (for decoration) Membership fee Offline educational course including lunch/dinner/breakfast Organization promotional events (e.g. room rental, hostesses,..) Band aids Art objects (for decoration) Data processing services Take away meals Catering costs promotional event Soup Furniture Fleet management Restaurant (social event - team building) Stand location at a fair or exhibition site together with other related services (i.e. Cable laying, insurance and|Col2|Col3|Col4| |---|---|---|---| |advertising,…)|||| |Catering services on employee event (Saint Stand location at a fair or exhibition site with limited extra Minute soup Toilet paper Graphic design services Nicolas, New year, retirement party, Christmas services party, ..)|Starting from the EU VAT Directive we determined||| |Registered medicines (for Hand soap Translation services Food (ingredients) for employee event Access ticket to a trade fair headache, nausea)|for what type of supplies deviations from the standard are possible (reduced rates, exemptions,||| |Paper journals and magazines Real estate IT services Alcohol for employee event Bicycles (only on paper)|other place of supply rules,…).||| |Paper journals and magazines Sponsoring (without something in (also accessible in electronic Immovable good Other costs employee event Passenger cars return) format)|If SAM does not know an object yet (e.g. a||| |Sponsoring (with some sort of Electronic journals and papers Alarm system Meal vouchers Fuel for passenger car advertising in return)|handbag) SAM will ask you whether it is a good or a service and will analyze further from there.||| |Consulting services (not related Paper books Telecom network Catering services company restaurant Light trucks to real estate)|||| |Management fees from private Electronic books Fixed furniture Access ticket theater (gift) Fuel for light truck|||| ----- ###### About Deloitte Deloitte provides audit, consulting, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and high-quality service to address clients’ most complex business challenges. To learn more about how Deloitte’s approximately 264,000 professionals make an impact that matters, please connect with us on Facebook, LinkedIn, or Twitter. Deloitte Touche Tohmatsu Limited Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms and their related entities. DTTL (also referred to as "Deloitte Global") and each of its member firms are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. © 2018 Deloitte Statsautoriseret Revisionspartnerselskab Member of Deloitte Touche Tohmatsu Limited ----- ###### Driv din virksomhed på data, og forløs det fulde potentiale ----- ###### “The way you collect, manage and use information will determine whether you become a winner or a loser.” Bill Gates ###### Change and growth in business and society are driven by insight, and innovation is fuelled by data. The ability to transform data and information into insight and sound decision-making is a key differentiator. Data in itself has become an asset that threatens to disrupt current business models while at the same time allowing for innovation and future growth. ----- ###### Why are leading companies in all industries investing in analytics? Recent research shows that companies that are leaders in applying analytics to growth significantly surpass analytics laggards in gross margins, operating margins and profit margins Companies being analytics leaders are … ###### Gross margin Operating margin Profit margin ###### to harness real-time data and analytics to use analytics to prescribe to use data to benchmark to deliver personalised customer business actions to limit customers and advise them on experiences customer churn how to realise greater value perceptual intelligence 55 37 18 10 Analytics leaders Analytics laggards 11 7 0 10 20 30 40 50 60 |Analytics le Analytics la|aders ggards| |---|---| |Col1|Col2|Col3|Col4|Col5|55 aders ggards| |---|---|---|---|---|---| ||||||| |||||Analytics le Analytics la|| ||18 10 11||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ----- ###### Technology disruptors, combined with regulation and industry pressures, are presenting new challenges for all businesses ----- ----- ###### Insight-driven organisation An organisational mindset and a deeply rooted belief that data is a prerequisite and foundation for success ###### “To master and leverage data is the key to getting more healthcare for money … … if we do not do this, we will not reach our goals.” Head of healthcare and hospitals for a Danish region ----- ###### The insight driven organisation is about asking new questions ###### How can I make analyses faster, better and cheaper? How can I turn all my data into actionable insight? How can I tackle the most complex business problems using data? If I do not have the data, how can I get it? How can I use insight to automate and run my business? How does data become part of our organisation’s DNA? How can we rethink what we are doing? ###### Outlook Non-IDO IDO ###### Past What has happened? Present What is currently happening? Future What is going to happen? ###### Why and how did it happen? What is the next best action? What does simulation tell us about the options, the pros and cons? ----- ###### IDO is about data pervasiveness Data in products Data as products ###### Simulation Visualisation Statistics AI Robotics $ Chatbots Text Transaction ERP Images IoT Sensors Open data Sound Purchased data Crowd sourcing ###### Reports ###### BI ###### Strategy ----- ###### Lufthansa leverages a variety of data and tools to infuse actionable insight into its customer journey process ----- ###### Data supporting the business strategy and being the business strategy ###### Our aspiration is to create a competitive edge for by growing an insight-driven business system fuelled by data and information This means that we will: • Grow a culture where insight focus is an integrated part of everything we do and all the initiatives we take • Build an effective and efficient solution delivery capability that will encourage the organisation to ask for more • Challenge and inspire the organisation at all levels on how to leverage analytics and new technological opportunities to take ideas to the next level • Support cost leadership as a lifestyle by democratising data and information to optimise processes • Bring data and insight to the hands of our users so that they have the right information at the right place at the right time. ----- ###### Danish Customs has made a new business strategy One of the most ambitious IDO bets in Denmark |Col1|Col2| |---|---| ||| ||| ###### Page 2 Our strategic choice is motivated by the creation of a data- driven customs From the one-page summary This will be realised through optimal leverage of data … ----- ###### Becoming an IDO is a C level bet Data mastery needs top-down leadership; it is an inherently system-driven concept that requires coordination and investment across the entire organisation ## ROI = risk of ignoring ###### It is about willingness and ability ###### datafy every exchange, software every activity, automate all operational decisions ----- ###### Maturity Becoming an IDO is a journey so do not wait; if you do not start soon, you will not get there in time ###### 75% of organisations report their analytics capabilities as siloed. Deloitte IDO Survey 2017 Stage 1 Analytically impaired Aware of analytics, but little to no infrastructure and poorly defined analytics strategy ###### Most organisations are between stages 1 and 3. Analytics leaders are between stages 4 and 5. ###### Industrialising analytics to aggregate and combine data from broad sources into meaningful content and new ideas ###### Adopting analytics, building capabilities and articulating an analytics strategy in silos ###### Expanding ad-hoc analytical capabilities beyond silos and into mainstream business functions, experimenting with AI-driven insight ----- ###### IDO framework ###### Process ###### Data ----- ###### People and organisations The age of with The role of the CFO/CxO Attract, organise and retain talent ###### of top executives defined organisational restructuring and resistance to change as their top-two obstacles in relation to digital transformation ... … and almost 40 percent cited the lack of key digital skills. of organisations do not believe that their culture supports digital adoption. ###### People ###### Sources: ----- ###### Process and governance Imagine – engage and innovate Deliver – plan, build and transition Run – leverage and govern ###### Process ----- ###### Data Manage to leverage Data is more than master data Get started … now! ###### Data ###### Data quality Data architecture management management Metadata Data integration management management Data Management Reporting and analytics Data management performance management Data governance Data security and ownership management ----- ###### Technology Platform modernisation Toolbox and devices Cloud and data architecture Cyber and security ###### Cost Speed Simplicity Flexibility ###### Technology of companies with more than 1,000 81% employees employ or intend to employ a multi-cloud strategy. Source: https://www.rightscale.com/learn/cloud- strategy/cloud-computing-trends ----- ###### So now what? What happens if we do nothing? How can we leverage data? What about our platform? How is data linked to our strategy? Do we start the IDO journey now? Who should I talk to? ###### What happens if we do nothing? How is data linked to our strategy? Do we start the IDO journey now? ----- ###### Find det fulde program på grabngo.deloitte.dk ----- ###### About Deloitte Deloitte provides audit, tax, consulting and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges. To learn more about how Deloitte’s approximately 264,000 professionals make an impact that matters, please connect with us on Facebook, LinkedIn or Twitter. Deloitte Touche Tohmatsu Limited Deloitte refers to Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (DTTL), its network of member firms and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as Deloitte Global) does not provide services to clients. Please see www.deloitte.com/about for a more detailed description of DTTL and its member firms. This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms or their related entities (collectively, the Deloitte network) is, by means of this communication, rendering professional advice or services. 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