If you are thinking of expanding internationally then managing your worldwide financial administration and accounting efficiently as well as complying with all local rules and regulations is crucial.
Using your existing NetSuite package, combined with an outsourcing supplier, can provide the integrated, scalable and real-time information required by your management teams on their overseas operations.
Helping to improve efficiency and visibility as well as providing consistent and compliant information locally and globally. More importantly, it also reduces cost by:
- avoiding you having to buy and learn additional complex software to keep compliant in each country;
- avoiding having to constantly upgrade software;
- never having to train and retrain admin/finance staff;
- not needing to acquire the knowledge of local tax rates and other compliance information;
- quickly having access to relevant banking platforms; and
- avoiding mass data extraction (ie increase error rate) from other software systems.
One key benefit to outsourcing is the ability to provide you with as much or as little support as you require, whether it be short or long term. Due to the nature of the NetSuite system, its allows for a quick set up, instant processing and reporting and when the time is right, the ability to easily transition back to your internal team. RSM is well versed in transitioning the finances and system back into growing businesses that eventually employ their own larger and experienced finance teams.
For more information contact Mike Sables, Partner, Outsourcing.