International Operations: Out of Sight, Out of Mind?

Posted by David Hope, Client Success Specialist, EMEA
When a company first sets up shop in a new country, it will often rely on third-party advisors from a local accountancy firm to get things up and running: filing the documents required for legal set-up, keeping a basic set of accounts for the new office, providing some basic reporting.
There’s nothing intrinsically wrong with that approach – in fact, it’s often the best way to navigate an unfamiliar market, with the guidance of people comfortable with its specific tax and reporting requirements as well as business culture.
But problems can quickly arise when a company sticks with that approach for too long, so that an office that has grown to represent a substantial chunk of its business is still being overseen by external helpers, typically using their own software.