{"id":2075,"date":"2017-07-06T08:30:11","date_gmt":"2017-07-06T12:30:11","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=2075"},"modified":"2026-02-16T05:27:23","modified_gmt":"2026-02-16T10:27:23","slug":"ready-to-take-on-the-world-how-to-make-sure-you-have-the-right-tools-to-tackle-globalization-challenges","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/ready-to-take-on-the-world-how-to-make-sure-you-have-the-right-tools-to-tackle-globalization-challenges\/","title":{"rendered":"Ready to take on the world? How to make sure you have the right tools to tackle globalization challenges"},"content":{"rendered":"
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\n\t\t\t\t\t\tReady to take on the world? How to make sure you have the right tools to tackle globalization challenges\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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Large companies learned long ago how to grow their markets and their profits by expanding internationally. For midsized enterprises though, international trade remains a constant uphill battle. Managing customers, suppliers, and customers across national frontiers can be costly and complex, especially when attempted with the constrained resources and outdated software programs.<\/p>\n\n\n\n

In 2016, a survey by OFX (formerly USForex) revealed that 96 percent of small and medium-sized business are confident in conducting business overseas. More than half of the survey respondents, said they already have international customers, suppliers or vendors outside of the U.S.<\/p>\n\n\n\n

“Going global is no longer an option for successful small and medium businesses — it is a strategic imperative,” said Karin Visnick, former head of North America, USForex.<\/p>\n\n\n\n

Are you ready to take on the world, but concerned whether your business management tools and resources are up to the task? This blog post will take a look at the challenges facing large organizations today and the tools you need to garner success.<\/p>\n\n\n\n

Challenges to expansion<\/strong><\/p>\n\n\n\n

Beyond the complexity of dealing with multiple languages and currencies for daily transactions, globalization presents risks of non-compliance with local rules, tax regulations and industry practices. With multiple entities, reporting and consolidations can become burdensome and slow. Optimizing inventories across multiple warehouses is a challenge for domestic companies, and the task is exacerbated when a business crosses borders. Plus, there are the complexities of managing both a global supply chain and workforce.<\/p>\n\n\n\n

Many companies are using applications that are ill-equipped to handle these challenges, leaving midsized organizations looking for solutions.<\/p>\n\n\n\n

Tools for passport to success<\/strong><\/p>\n\n\n\n

In order to achieve success long term, your organization needs a business management system designed with global operations in mind is a necessity. When selecting a tool, please consider the following questions:<\/p>\n\n\n\n

Is the tool capable of helping my mid-sized business tackle everyday challenges we are facing whiling growing in a global market?<\/p>\n\n\n\n

Can I access data and insights from multiple customers, suppliers and contractors across different regions in real-time and on the go?<\/p>\n\n\n\n

Will this system help me scale a profitable international business?<\/p>\n\n\n\n

Can I manage multiple currencies, legislations, and communicate in different languages?<\/p>\n\n\n\n

Now you need to convince your executive team that a new business management solution is imperative to your company growth.  Here are five tips<\/a> on how to convince your organization it is time for a new solution.<\/p>\n\n\n

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