Operating in foreign markets can have huge financial implications: tax reporting and collection, online revenue recognition, and tariff codes all add multiple layers of complexity. Moreover, if you buy materials or sell products in other countries, you need to protect your company from exchange rate fluctuation – which includes a hedging strategy. You may need access to local financing, too.
Make sure your ERP system can not only handle local currencies, but that you can automate and streamline transaction processing. You also need a system that can provide global visibility. Modern ERP solutions will help produce insightful financial and boardroom-ready reports, so you can analyse financial performance across all of your foreign markets.