Accounting Team Replacement and Tax Consulting for International Expansion
Accounting Team Replacement and Tax Consulting for International Expansion
A major manufacturing company from the Košice region approached us with an urgent need to fully replace their internal accounting team. Within the span of two months, several key members of their finance department had left, posing a significant risk to the stability and smooth operation of the business.
Client’s Request
The company sought our support in two key areas:
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Immediate replacement of the accounting team and assurance of continuity in both accounting and tax operations
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Optimization of accounting processes with a focus on efficiency and compliance
How Our Collaboration Unfolded?
Needs Assessment and Initial Analysis
Our first step was a detailed analysis of the client’s requirements to fully understand their key processes and the specific nature of their manufacturing operations. Our team focused on identifying areas suitable for automation to save time and resources.
By leveraging our technical and professional know-how, we not only met the client’s expectations but also introduced valuable innovations that significantly contributed to the optimization of their accounting operations.
Team Replacement and Transition to Outsourced Accounting
Our comprehensive replacement of the internal finance department demonstrated that BDO can quickly and effectively adapt its services to a client’s specific needs. We successfully filled all critical roles, including:
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Chief accountant and accountant
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Tax advisor
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Administrative support
We also demonstrated to the client how, by implementing efficient processes, they could shift financial resources away from HR costs toward business development, enabling stronger focus on growth.
Status Update Meetings
We introduced regular check-ins with the client to monitor implementation progress, team integration, and adaptation to new systems. During these meetings, we identified issues, analyzed errors, and proposed tailored solutions to improve operations.
Expert Consultations for Process Optimization
We provided consulting on various optimization opportunities, including:
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Harmonization of accounting procedures
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Implementation of a new time-tracking system
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Upgrade to a more modern and transparent inventory system
Tax Advisory and Support for International Expansion
As the client explored international markets, we supported their plans with in-depth expertise in tax, audit, legal, and business advisory services. Through coordination with BDO offices abroad, we delivered full support for their expansion efforts.
This included services such as:
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VAT registration in foreign jurisdictions
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Tax impact analysis
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Advisory related to legislation in target countries
Results of Our Collaboration
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The client secured a reliable team of accountants and tax advisors
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Automated solutions were implemented to streamline accounting operations
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The company expanded internationally without legislative complications
Our comprehensive approach not only brought immediate stability but also provided a long-term strategic advantage, supporting team motivation and future growth.