Payroll Backlogs: How to Catch Up & Stay on Track
Payroll is a critical function for any multinational company (MNC), ensuring that employees are paid accurately and on time. However, managing payroll can be challenging, especially for MNCs operating in a diverse and complex market like India. According to a recent survey, nearly 40% of businesses in India have experienced payroll backlogs at some point, […]
Why Outsourcing Accounting Is a Game-Changer for MNCs
Accounting is crucial for multinational companies (MNCs) in India to ensure financial health and compliance. According to a recent report, over 80% of Indian businesses face challenges in managing their accounting processes effectively due to increasing regulatory requirements, labor shortages, and escalating operational costs. The challenges are further compounded for MNCs as they need to […]
Outsourcing Accounting And Compliance: How MNCs Can Stay Compliant
In 2023, a survey by Deloitte found that nearly 70% of multinational companies (MNCs) based in India struggled with compliance management due to ever-changing regulations. This percentage is projected to grow as India continues to update its tax laws and compliance framework. Furthermore, a study from PwC revealed that 65% of businesses faced penalties for […]
How Outsourced Payroll Can Solve Workforce Challenges for MNCs
Managing a global workforce presents several complexities, especially for multinational companies (MNCs) operating in diverse regions like India. Among the many HR functions, payroll management is one of the most challenging tasks for MNCs, particularly when it comes to ensuring compliance with various laws, handling multi-currency transactions, and accommodating different labor regulations. Outsourcing payroll is […]
The Importance of Accurate Bookkeeping for MNCs
As multinational corporations (MNCs) expand their operations in India, maintaining accurate financial records becomes increasingly important. Bookkeeping, the practice of recording financial transactions, is crucial for ensuring compliance with India’s complex tax and regulatory framework, providing transparency to stakeholders, and supporting business growth. For MNCs, accurate bookkeeping isn’t just a legal requirement but a strategic […]
The Hidden Bookkeeping Obstacles for MNCs
For multinational corporations (MNCs) operating, bookkeeping can be a significant hurdle. The country’s complex regulatory environment, frequent updates to tax laws, and unique financial reporting standards make it challenging to maintain accurate and compliant financial records. These bookkeeping challenges often lead to inefficiencies, errors, and costly penalties, potentially impacting the success of an MNC’s operations. […]
10 Bookkeeping Hacks to Save Time in 2024
Bookkeeping is one of the most time-consuming and intricate aspects of managing business operations, particularly for multinational companies (MNCs) in India. Between regulatory compliance, multi-currency transactions, and the need for accurate financial reporting, efficient bookkeeping can quickly become overwhelming. In 2024, as competition intensifies and the market becomes more dynamic, MNCs need to find ways […]
How To Streamline Operational Accounting for MNCs
In today’s highly competitive global economy, multinational corporations (MNCs) are continually seeking ways to streamline their operations to remain competitive. One critical area that plays a significant role in this effort is operational accounting. Operational accounting involves tracking and managing day-to-day financial transactions, ensuring efficient workflows, and keeping the financial health of a business intact. […]
How Monthly Cleanup of Books Can Uplift Your Business
For multinational corporations (MNCs) operating in India, maintaining accurate and up-to-date financial records is crucial for ensuring compliance, making informed business decisions, and driving growth. However, with the complexity of operations across borders, many MNCs face challenges in keeping their books clean and current. According to a study by KPMG, nearly 40% of MNCs in […]
Avoid Bookkeeping Backlogs: Best Practices for Up-to-Date Accounting in MNCs
For multinational corporations (MNCs), maintaining accurate and timely financial records is crucial. However, a staggering number of MNCs operating in India struggle with bookkeeping backlogs. According to a survey by Deloitte, nearly 60% of MNCs in India reported challenges in maintaining up-to-date accounting records, with backlogs often leading to financial inaccuracies and compliance issues. This […]