Improving Days Sales Outstanding (DSO) in India Subsidiaries
Effective cash flow management is a critical aspect of running a business, especially for multinational companies (MNCs) with subsidiaries in India. One of the key metrics that help evaluate a company’s cash flow efficiency is Days Sales Outstanding (DSO). DSO measures the average number of days it takes a company to collect payments after a […]
Understanding Accounting Standards: Compliance Guide for MNCs
multinational corporations (MNCs) face a multifaceted and highly regulated financial landscape. Navigating this landscape is crucial for staying compliant with domestic accounting regulations while maintaining consistency with international standards. According to a report by PwC, nearly 85% of MNCs in India face challenges in meeting complex regulatory requirements, with over 50% citing accounting and compliance […]
From Complexity to Clarity: Accounting Compliance for MNCs
Accounting compliance is one of the most challenging aspects for multinational companies (MNCs) operating in India. A recent survey by Deloitte revealed that nearly 70% of MNCs cite regulatory complexity as a significant hurdle for their operations in the country. Furthermore, 60% of these companies face challenges in maintaining compliance with local tax and financial […]
Payroll Transformation: Turning Chaos into Control
Indian multinational companies (MNCs) often find themselves battling chaos, whether it’s due to compliance requirements, diverse employee needs, or managing multiple systems. According to a recent survey, over 45% of MNCs in India have reported payroll discrepancies and inefficiencies as a major challenge in their business operations. Another study revealed that almost 60% of payroll […]
The Future of Payroll Management for MNCs: Trends to Watch
Payroll management is a critical function for multinational companies (MNCs), especially those operating in a diverse and dynamic market like India. The payroll landscape has evolved significantly in recent years, driven by technological advancements, regulatory changes, and evolving workforce expectations. As we step into 2024, several trends are shaping the future of payroll management for […]
Payroll Fraud Prevention: Best Practices for MNCs
Payroll fraud is a growing concern for multinational companies (MNCs) in India. According to a 2023 study by the Association of Certified Fraud Examiners (ACFE), payroll fraud accounts for 8.6% of total fraud cases in large corporations globally, with the average duration of such fraud lasting around 24 months before detection. In India, where large […]
The Role of Technology in Streamlining Payroll for MNCs
The payroll process is one of the most intricate and time-consuming functions for any business, and for multinational companies (MNCs) operating in India, it’s even more complex due to the country’s regulatory environment. In a 2023 report by Deloitte, it was found that 56% of organizations are looking to automate their payroll processes to minimize […]
Payroll Compliance for MNCs: Key Challenges & Solutions
Payroll compliance is a critical aspect for multinational companies (MNCs) operating in India. With over 1.3 million registered businesses in the country, managing payroll in compliance with India’s complex regulatory environment poses significant challenges. The Indian payroll ecosystem includes diverse regulations such as the Employees’ Provident Fund (EPF), Employees’ State Insurance (ESI), Professional Tax, and […]
Outsourcing vs In-House Payroll: What Works Best for MNCs?
Managing payroll is a critical function for any business, especially for multinational companies (MNCs) operating in India. The complexities of handling payroll for a global workforce, coupled with ever-evolving local regulations, present challenges that can be time-consuming and costly to manage. For this reason, many MNCs face a critical decision: should they manage payroll in-house […]
Statutory Compliance in Accounting: What Every MNC Should Know
In today’s highly regulated global business environment, statutory compliance in accounting is not just a legal requirement but a fundamental part of a multinational company’s (MNC) financial health. For MNCs operating in India, compliance with local tax laws, corporate regulations, and labor standards is critical to avoiding hefty penalties and ensuring smooth business operations. According […]