International growth requires courage and ability to stand out

When you have a brave attitude, right partners and you also include the best tools in the mix, you have a great basis for international growth. sTARTUp Day 2024 partner Staria enables customers to focus on growth without having to worry about running financial administration. 

This article was written by Staria.

In today's market, internationalization is inevitable – at least when aiming for growth. Staying within home country’s market limits finding new customers, employees, partners and investors. Despite its importance – or perhaps because of it – internationalization is not always easy to achieve. What is needed for international growth? There is no single formula for success, but there are ways that companies can improve their chances of international success.

According to Artti Aurasmaa, CEO of Staria, the attitude and culture of a company seeking international growth determines a lot. "Internationalization requires courage to specialize and ability to become the best in the field. I encourage companies that are aiming for growth to think big and trust their own skills, there’s no need to be modest. Organizations’ ability to grow as a team also defines a lot."

In the global market, companies are competing with opponents from everywhere in the world – just like in the Olympics. Standing out from the crowd can be challenging.

"There is still a countless number of businesses and industries that are yet to be invented. If you find your own niche market, be bold and focus on it while striving to be the best in the field," Aurasmaa encourages.

Although the competition is fierce, the time for success stories is not over. In recent years, the world has witnessed the birth of many international success stories. Staria has had a privilege to support companies such as  Starship Technologies, Vinted, Wolt and Storytel on their growth journey. In our experience, when aiming for international markets, uncertainty must be tolerated.

"Uncertainty will be permanent, there is always a new challenge waiting around the corner, as we have noticed in the last few years. However, international growth is also a means of risk management," says Aurasmaa.

Attitude helps but success is built with right tools and team work

Successful international growth is always a sum of many things, but one important success factor is that companies are able to focus on their core business in peace. When support functions are in order, focusing on growth is easier. This is where partners come into the picture.

When heading for international markets, one important requirement for companies to consider is their systems scalability. Systems must be able to comply with constantly changing requirements, which the changing world is always throwing in front of us. Many international growing companies have chosen NetSuite business platform to support their growth. The business platform offers a cloud-based ERP planning system that scales with companies’ growth and replaces several separate systems, making businesses more efficient. NetSuite reduces the need for manual work, which improves companies’ profitability. In addition, NetSuite users benefit significantly from the efficient back-office functions.

When expanding, business management needs to grow so significantly that well-functioning, real-time and transparent digital financial administration processes are necessary. Automation and digital services make companies' operations more agile, so outsourcing to a partner that operates in a modern way pays off.

Staria offers global accounting services in over 40 countries. For international companies, managing financial and payroll services in so many different countries via one partner is a significant advantage. With Staria's ONE STOP® delivery model, the customer has an extensive international network of financial professionals in use, thanks to which local financial, salary and taxation matters are always in order in every country. The centralized service model eases customers’ everyday life.

"Staria enables our customers to focus on growth, they don’t have to worry about running financial administration. We are the navigator of growth, while customers are behind the controls of their own starship," Aurasmaa describes.

When you have a brave attitude, right partners and you also include the best tools in the mix, you have a great basis for international growth. Digital transformation enables a more comprehensive management of operations, and with transparent systems risk management is easier. When the systems are in order and the foundation is stable, it is significantly easier for the company to plan and execute growth.

"All successful companies have long-term work behind them. However, not everything is done alone – and they shouldn’t be. By finding the right partners, companies can focus on their own strengths. Through cooperation, wonderful things can be accomplished," Aurasmaa sums up.

Would you like to know how your company can maximize its growth potential? Visit Staria’s booth at the sTARTUp Day 2024 and we’ll help you unlock growth without borders! Do you want to book a meeting with us? Contact CEE Country Manager Ivan Iakovenko and let’s discuss more about your growth plans. 
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