International Business

Go International in 6 Simple Steps

17/05/2016

Going global with your business has never been easier: The Internet has blurred geographical borders; the numbers of international teams are rising. And yet, many entrepreneurs fear stepping across borders. Why? Read on and learn about the 6 biggest obstacles for international businesses – and how to overcome them.

  1. Language Barrier? Adieu!
    Language is key to run an international business. Unfortunately, the language barrier is real – and especially in the business world, misunderstandings can be fatal. English has become the global business language, but not all of us are speaking the same English. Many idioms cannot be translated word by word – and if they are, they might change their meaning. That’s why MoneyPenny has learned many languages. Send out estimates in Spanish, invoices in German and friendly reminders in French, drafted by international experts in international communication. Keep the language barrier wide open.
  2. Count on International Currencies.
    Your business partner wants to make transactions in Canadian Dollars or Swiss Francs? Until today, this has been pretty complicated. Currency conversion, transaction fees, and in the numbers got messed up in reporting. Enter MoneyPenny: Our intelligent software knows all current currencies, from Albanian Lek to the South African Rand. Set up an invoice in any currency; define the conversion rate, and your done. In your reports, the amount will be converted to your home-currency. Magic? No. Just smart technology.
  3. International Taxes
    Different countries, different taxes. VAT, MwST and whatnot: it is not easy to get a grip on international taxes. But beware: a minor error can have disastrous consequences and cost a fortune. My advice: get advice. From a professional tax person that knows all about you and your individual international network. To make that as easy as possible, we have invented a special access for your tax person. Just invite them over into MoneyPenny and they have all the info they need within seconds. This saves them time – and I don’t have to remind you how precious that time is to you, do I?
  4. Track your hours wherever you are.
    Thank god, travelling has not become obsolete even in digital times. Maybe you’re meeting your international partner in Budapest? Or work on a project between two dives in Maledives? This time is not lost: Thanks to the MoneyPenny Timetracker, you can track every second of your working hours wherever you are. Log in, activate, and get to work. All you need is an Internet connection. And yes: please assign the logged hours to the project you’ve been working on. Stay organized and focus on doing your real work. Or diving.
  5. Travelling? Track your expenses on-the-go.
    Nothing worse than staying on top of your expenses while on the road. Say good-bye to crumpled receipts and messed up paperwork. Snap, upload, done: That’s how easy it is to track your expenses with MoneyPenny. Thanks to integrated smart receipt scanning services, numbers and currencies can be automatically identified. Sit back, relax and enjoy the view – MoneyPenny does the rest.
  6. International Teams
    The graphic designer in Malaga, the copywriter in Munich and the marketing expert in London: if your team looks something like this, you must know how hard it can be to stay in control of an internationally dispersed team. With MoneyPenny, these worries are a thing of the past. Every team member has a personal account to log hours and expenses. Thanks to our smart project-planning tool, every team member knows what’s going on. And when their done, all the hours and expenses spent on a project can be turned into invoices. As simple as that.

So, what’s stopping you? Cross the borders and conquer new territory – the future is global. With MoneyPenny, you have a translator, smart currency calculator and international team manager at your fingertips. Welcome to the unlimited world of Cloud Accounting!

Good-bye, adieu and do svidaniya,

MoneyPenny

 


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