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2 issues COVID-19 brings about to cross-border business - and here is a solution.
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2020/09/16
2 issues COVID-19 brings about to cross-border business - and here is a solution.

Under the lasting pandemic, working at home has become quite common as a "new-normal" workstyle.

Today we discuss what COVID-19 brings about to cross-border businesses and how we can work it out.

 

2 issues of overseas business under pandemic

There are 2 major issues that are more than likely to persist. 

 

1. Dropping sales / deteriorating cashflow

◆The financial status of our overseas subsidiaries are rapidly getting worse

◆Experiencing difficulties in collecting the information for simulation

 

Consolidation and decision making at the board are no easy tasks in this situation.

 

 

 

 

 

 

2. Travel restriction

◆No manager or visitors from the headquarters at overseas subsidiaries

◆Extremely difficult to go on business trips 

 

Remote control over the subsidiaries from the headquarters matters far more than ever.

 

 

 

 

 

How GLASIAOUS works 

GLASIAOUS, as a multi-lingual cloud accounting & ERP service for global use that supports multiple currencies and accounting standards, addresses these issues in the following way.

 

1.Dropping sales / deteriorating cashflow ⇒ Keep track on the financial status anytime and anywhere

 

<If you are...>

・experiencing delays in fiscal closing of overseas subsidiaries (and consolidation closing accordingly)

・having difficulties in finding the evidence for making remittance to subsidiaries

・feeling unsure of the current financial status of subsidiaries

・failing to catch up with updates in the local tax and other related rules 

 

<How GLASIAOUS helps>

・Drilldown from financial statements to journals/ cashflow table/ receivable aging reports 

Monthly reporting gets quicker.

Optimizes internal financing by making visible at HQ the needs for financial support from overseas subsidiaries

・Analytic financial statements & analytic FS by item(s)

let you have a grasp on the current financial status and related issues

give you hints on optimizing costs

・Budget control

helps you estimate the performance of the near future

・GLASIAOUS Consortium

supports catching up with local tax rules with their latest knowledge and the global network.

 

 

2. Travel restriction ⇒ "Cloud + outsourcing service" contributes to remote supervision.

 

<If you are...>

・not very sure if the journals have evidence

・anxious about the internal control at some overseas subsidiaries

・bothered too much with securing qualified local staff 

 

<How GLASIAOUS helps>

・Approval process/ Authorization function on cloud/ Auto-translation/ Comments on vouchers/ File attachment

The performance of overseas subsidiaries available with actual evidence anytime and anywhere you need.

・Extensibility as cloud ERP

let you watch over the purchase/sales anytime and anywhere you need.

・Book-keeping outsourcing by GLASIAOUS Consortium members

hedges the risk and reduce costs for self book-keeping.

The professional knowledge and experience secure the quality. 

 

Contact us for more details.

Feel free to contact us to learn more - it's our honor to share the actual cases and show demonstration online with you.

 

Contact Us

 

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