Last week Smartshore's CEO Jelke Schippers participated in an OECD symposium that aimed to address cutting-edge policy issues and identify key research directions, as well as practical solutions to advance financial literacy and management for micro, small and medium-sized enterprises (MSMEs). The background of this topic is that many MSME's don't fail because of their product or service, but because insufficient financial management skills.
Jelke was invited to give his insights about the difficulties in financial management when running and growing a company. Especially Smartshore's international focus was of interest in this respect. How can small and medium business be assisted in financial management during international growth and expansion?
Smartshore specializes in managing international teams. Besides managing a software team across boarders, building a multinational company requires a specific skill set. The company needs to comply with legislation in all it's countries, transfer pricing systems need to be setup and risks related to global differences need to be managed.
This is not just a matter of compliance. How budgets are allocated and how profit is distributed throughout the company can have a direct effect on motivation and incentives. In order to make a global software team work effectively, all financial and control mechanisms need to be in place. This allows full focus on company culture and quality without distress from the numerous management issues can rise in an international context.
At Smartshore we have experience in how to do this effectively and we love to share these insights with our clients. Feel free to contact us to get a taste of it!