This Massachusetts based company provides VOIP networks to more than 150 customers in over 50 countries worldwide including 5 of the world’s largest telecoms carriers.
It has grown dramatically in the last five years and its advanced network technology carries over one billion minutes of IP-voice around the world every day; nearly 40% of all IP-voice traffic worldwide.
Our outsourced solutions have supported the company’s expansion leaving them free to focus on growing the business in line with the demands of the digital consumer.
The Business Challenge
The company came to us in 2005 seeking to improve the efficiency and cost-effectiveness of their existing operations in France, Germany and the UK and support further expansion into other foreign markets.
They desired a partner with the knowledge and experience to support the group’s international expansion, the skills to manage the smooth running of their business in multiple international jurisdictions and a flexible outlook to keep pace with such changes.
We have worked seamlessly with the company since the outset to manage the financial aspects of their EMEA business operations and the demands of their growing workforce. To streamline operations in France, Germany and the UK, we provided improved record keeping, bank / treasury management and reporting – saving them considerable time and money.
During 2006 and 2007 we assisted the company’s internal audit function with a business process review. The aim was successfully achieved, controls were tightened and risk mitigated.
As the business continued to grow, we ensured that it did so in a controlled manner by creating a detailed regional reporting system with increased data analysis to provide consistency and continuity between regional operating procedures and their group policies.
Our team also improved purchasing processes and minimised external audit costs by preparing the regional financials for audit to US reporting standards, liaising closely with the group auditors.
In 2007, our team managed a tax and accounting due diligence investigation for the company’s largest EMEA technology acquisition. Our meticulous approach, extensive tax knowledge and ability to apply such skills to their unique situation had a positive impact on the deal, which was successfully completed.
We successfully concluded on a multiple entity and multiple period taxation review exercise in 2008, yielding significant tax and VAT refunds for the group.
As the company continued to expand into new international regions, we responded to the company’s changing business requirements; supporting their offices in seven EMEA territories through an international network of service providers; managing payrolls and local tax compliance.
Our success in managing the company’s international financial reporting and compliance has enabled the management team to concentrate on core activities, develop the business and deliver growth in profits and market share which see the company well placed in the global economy.
If you are considering expansion into the UK or elsewhere, please contact us.