Localization solutions exist to help multi-national companies face unique localization challenges when dealing with reporting and compliance in the countries that they operate in.
Pangea Group has developed Latin America (LATAM) localization solutions to help your company overcome statutory requirements and address them all within Microsoft Dynamics 365 Finance and Operations.
I believe these are some of the most important features that Pangea’s (LATAM) localization solutions have that avoid localization’s hindrances.
1. Language Functionality
From making monetary transactions to productivity and quality evaluations, Pangea’s localization solutions work with the end user’s language to avoid communication hindrances.
We front that language barrier and diminish it by creating unique fields that allow you to change language setups and create accurate translations of technical and financial jargon for the end user’s comfort.
Each country has its own laws, standards, and financial reporting requirements. Many businesses have difficulties entering into new country markets due to lack of resources to achieve statutory requirements. Because of that, companies may hire more staff than necessary and incurring unnecessary additional costs to help them comply.
With Pangea Group’s localization solutions, multi-national companies won’t need a large team of financial operators but one integrated platform that will help them to automatically comply with all mandatory requirements, tax reporting standards and laws. This not only will avoid compliance failure, but also assist you in growing and expanding within Latin America.
3. Multi-entity Operations
The workload increases exponentially when a company expands to foreign markets. All sales, purchase, tax, withholdings and inventory operations grow, making it more difficult to keep track, manage and take effective decisions for each facility when they have different requirements and work under different laws and standards.
Built upon Dynamics 365 Finance and Operations, our localization solutions not only will allow you to ensure country compliance but also bring you full visibility across your legal entities and multi-national facilities providing you with critical information on the health of your organization. Allowing you to focus on value-added activities while minimizing overload.
4. Growth Needs
When a company grows, its needs and requirements increase as well. The numbers rise and processes become more intricate. Because of that, enterprises need a scalable system that expands at the company’s pace.
Our LATAM localization solutions utilize a proven tax architecture to ensure that no matter how big or complicated your operations might be, you will secure a solid foundation for your long-term growth.
To truly overcome multi-national challenges, the localization solutions you choose must be implemented by a team committed to the same goal as you: ensure compliance in foreign markets avoiding setbacks.
Pangea Group is committed to facilitating our client’s growth through the use of Microsoft Dynamics 365 Finance and Operations. Our knowledgeable consultant team, expert in LATAM’s statutory reporting and requirements, will assist you through all multi-national and multi-entity business procedures.
Any localization solution’s goal is simple: ensure that you and your organization follow country laws allowing you to operate efficiently and effectively within that country. Our goal is to provide you with the tools and knowledge so that you may reach that goal.
I hope this blog was able to shed some light on the localization hindrances faced by multi-national companies and the way to avoid them.
Thanks for reading.