Finance and Accountancy Briefing
Becoming a Multinational Finance Department - A Checklist of Financial Management System Requirements
The Challenge of Change
Finance departments in companies that expand by entering new country markets find there are an array of new requirements they must master. Operating in multiple national jurisdictions requires, at the very least, working with different currency, language, laws and regulations. It’s essential for the CFO, controller and head of accounting to understand the full array of systems requirements that the finance department of a multinational company needs to address to operate efficiently and effectively.
Once the team is clear on what will be required, they will have to determine whether the current core financial system can handle the demands of a true multinational organization. If it isn’t, Ventana Research recommends replacing it as quickly as possible.
To continue reading about the challenges of change, please download the briefing.
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