Staria ONE STOP® international accounting service targeted for growth companies makes sure that your company’s international growth drive does not stumble upon the whorls of financial management.
This article is an advertorial published at Nordic Business Report Magazine
Powerfully growing and internationalizing companies face increasing challenges as their operations expand. – If a company has multiple offices around the world, they need to find a local accounting firm for each country. Finding a reliable partner, just like starting a collaboration with each partner, are laborious and time-consuming processes. Just as daily communications takes a lot of the company’s time and resources, says Satu Kuokkanen, Staria Business Director.
Kuokkanen says that international companies using several local accounting firms also often suffer from different process speeds and slow reporting with variable quality. Exploring company laws and regulations can also make the transition to new markets a complex and long process that slows down the company’s internationalization.
ONE STOP® concept helps your business grow
Staria decided to start helping the internationalization of start-up companies with a new service model four years ago. We started developing ONE STOP® based on the feedback we received from our customers. In the background, we had a large enterprise Service Center model that we wanted to make available to smaller, international companies and companies in the path of internationalization. We created a unique concept to help companies grow their business and help them to take off. The strong competence and tools of Staria help the company to succeed, whether it is a startup or an established business that is looking for scalability and optimization of financial services, Kuokkanen explains.
One partner, one platform, one team
How does ONE STOP® service work in practice? Staria has a service team in Helsinki that already now serves 30 countries with accounting services. Most financial management services are produced here – with the exception of payroll accounting because local legislation and regulatory reporting differ from country to country. These are handled by a local partner in each country. Otherwise, the financial service is fully managed by one team. It makes it easier for the company to run their everyday business when the customer can be in contact with the persons designated to them and, e.g., get advice on a particular market or a particular country. Our customers are served by an international and multilingual team who is ready to help in every situation.
Technically, the ONE STOP® service runs on a a cloud-based NetSuite ERP system that is a scalable business platform. In practice, an enterprise can use the same business platform regardless of the size of the company and of whether it is a startup in a rising phase or an international group. When a company’s financial service works in a single system, the management of the company gets a precise view of the company’s financial situation anytime, anywhere. Unified reporting and optimized internal processes help make better decisions and achieve faster growth goals. On the other hand, the number of errors is also minimized when the reports are uniform and the data is valid.
A new country on the map in 30 days
Staria’s service concept is already available in 30 countries, but can be extended virtually anywhere in the world in just one month. Consistent with our service commitment, we go where the needs of the customer take us. Our task is to find a local and reliable partner who meets our criteria. We have our own process and precise criteria for the selection of partners. The partner candidates go through a tight screening, and finally, we go on-site to make sure everything is fine. We are committed to providing the customer with a service whose main function is International Accounting Made Easy, so the entire chain needs to operate with the highest quality up to the last detail – everywhere.
“Growth has been staggering throughout Wolt’s operating history: revenue has tripled from one financial year to the next. We are constantly expanding to new cities and countries. At this rate of growth, fast-moving financial management and business management systems are required. So all our new countries are handled with ONE STOP concept and taken to NetSuite as Staria is operating as our localization partner. ”
Henna Mäkinen, CFO, Wolt
International Accounting Made EASY for multinational companies
– Real-time visibility of financial information
– Save time and money – no need to have multiple separate accounting partners
– Consistent accounting and reporting principles
– Enable scalable digital services with the latest technology
– Expand your business to new markets with our easy and secure processes