Two-thirds of companies will be expanding into international markets over the next three years specifically to increase sales, according to a 2010 report by Ernst & Young. Further, as the economy recovers from recent economic downturn, “technology companies expect a fast, strong cyclical upswing, and are positioning themselves to benefit from it. For CFOs and controllers, the challenges of setting up business functions as a company expands are significant, particularly in offshore locations. For young companies, the challenges are compounded by limited resources and few finance staff members.
The following best practices, geared specifically for high growth technology and life science companies, are intended to help streamline the set up of currency account structures to help take maximum advantage of the European market.
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