Digital transformation is a buzzword. It is also a strategy. One that McKinsey believes is key to an organization’s long-term success and its ability to outperform the competition. It is also the metric by which differentiation and disruption are measured because it is digital that unlocks the agility and scale needed to adapt to changing business and market expectations. For companies moving into new markets, digital is an invaluable tool that allows for them to manage shifting operational and financial expectations across multiple currencies and countries while remaining compliant. It is also the competitive advantage companies need, says PwC, to stay ahead of the competition and ensure that employees stay engaged, strategies aligned, and growth on track.
First, the question should be…how?
How can your business find the right digital platform that allows you greater insight and control over projects? What approach should you take to refine operations and smooth out processes for a competitive edge? What methodology will ensure that technology investment actually delivers the transparency, visibility and efficiency that you need?
The first answer lies in knowing the pain points
As an organization moving into new territories, you will very likely need to revise your processes and systems to ensure that you are agile enough to adapt to different legal, regulatory, and operational requirements. Multiple companies across different countries means multiple currencies, taxation laws, employee payment packages, benefit expectations, and accounting requirements.
Rapid international growth often results in an increase in manual processes across multiple systems that are disparate and disconnected. And everyone knows what that means – slow processes, frustrated employees, and limited visibility across silos and operations.
Another challenge is managing resources and finances. While there is the payroll and employee management side of the international coin, there is equally the finance and billing side that introduces its own fair share of problems. Suddenly, you’re invoicing across multiple currencies in different countries which is further complicated by internal cross-billing that has to be carefully tracked to ensure the company remains compliant and systems aligned.
These are just some of the challenges that you’ll have to overcome across sales, procurement, management and accounting to ensure that you’re capable of operating across different jurisdictions while staying compliant and efficient.
The second answer lies in the methodology…
To resolve these challenges, you want a multi-currency, multi-country platform that meets functional business requirements, can be integrated across disparate systems to ensure consistency, and that allows for improved visibility through rich data insights and reporting. Right.
This can be achieved by following a smart methodology that allows you to fit the technology to the pain points, not the other way around. Mint UK has developed a comprehensive assessment that dives deep into your business to find both the obvious and elusive pain points and provides you with a crystal-clear picture that helps inform your decision-making. The ProActive™ Discover methodology finds out exactly what you need and curates a solution that meets those needs.
The third answer sits within the trusted technology stack…
Enter Microsoft Dynamics 365 Finance – a technology stack that can evolve with the business while meeting very specific global and international expansion requirements. It’s trusted with a solid global footprint, and it meets the changing needs of a company that’s focused on international expansion.
The proven capabilities of Dynamics 365 plus the ability to take a modular approach to building on the stack makes it an agile digital partner. Dynamics 365 Finance comes with analytics and financial intelligence tools built-in and helps you to develop, modify and control budgets across different currencies and jurisdictions. It also helps you to streamline operations and you benefit from the consistent evolution of the platform through Microsoft’s dedicated research and development.
Adding on the tasty titbits of artificial intelligence, reporting, analytics, automation, and optimized cost management, the platform can be customized to fit very unique business parameters and expectations. This enterprise resource planning (ERP) system also gives you real-time visibility into financial operations so you can make faster and more efficient business decisions.
With a solid track record and proven methodology, Mint UK, a Microsoft Gold Partner, knows ERP, understands people, gets technology, and will help you to create a comprehensive and relevant solution that will grow with your business. We get the pain points and collaborate with you to find the best way to resolve them.
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