Here is the prescription for your accounting software
When a business starts growing and expanding into the Latin America, the amount of sales and tax obligations grows with it, and as expected things won’t keep working the same. Now, you find yourself in a different environment. Concepts and procedures are tricky, and you have the feeling that things are not under your control anymore. If all these things said are correct and you can relate with the situation, then let us tell you, you suffer from Latin American Syndrome.
Lost sense of communication
Translation between languages such as Spanish and Portuguese doesn’t seem enough to get understood? This might be because in the accounting universe, technical concepts change depending on the country you are located. Added to these, different local agencies names will come up, as well as different names for documents that are required. Yes! This will happen for each country.
Lack of productivity will be shown as you are not fully using your accounting software. Most of them are well prepared to give you the control of your company in one click, headquarters have reports at real-time supervision of tax compliance in the company, while in your subsidiaries, things are delayed. Decisions can’t be taken at the time needed as backup information isn’t ready, mainly because the software can’t work under Latin American circumstances where accounting principles are not standardized.
Latin American outlook is constantly changing. Laws and requirements could give you a headache if you are not aware of which documents and procedures are mandatory in the countries. Especially if practices are often morphing to increase efficiency through electronic versions. E-Payment, e-invoicing, legal ledger and more have developed these kinds of versions, some of them don’t, but the idea of competing at a global level is surely leading them into development.
The prescription that you need!
LatamReady SuiteApp, the key to adapt and amplify Oracle NetSuite features, is always ready to handle any national accounting changes, covering more than 14 countries in Latin America.
The SuiteApp works with local agencies in order to validate all types of documents and requirements so companies can manage all in one point of contact. And the best of all? Updates of the software are made twice a year for reliable backup.
LatamReady SuiteApp will be with you in every step of the way for an easy transition until you fully recover and keep expanding!
Don’t miss the cure of your problems! Visit now: https://www.latamready.com/