Find out more about why the interplay between finance and business is so important and how it works in my project descriptions.Read more
Companies wanting to take their operations and business model international usually think first about sales channels, marketing, and their supply chain. But their finance departments also face some very particular challenges: varying national situations, qualification requirements for finance personnel, hedging of currency and default risks, and cultural differences all require particular attention. And sooner or later, the after-effects of the post-merger integration process will make themselves felt in the financial flows.
The more ineffective a finance department’s structure and processes are, the bigger the impacts will be – including on business decisions. In this scenario, decisions are often founded not on reliable and above all comparable figures, but on emotion or on a business’s experience in its domestic market.