A CASE STUDY
US tech company acquires Spanish research & development entity.
OUR CLIENT
Our client is a US-Headquartered software company that acquired a Spanish R&D company at the beginning of 2023.
THE CHALLENGE
The client needed a partner with a presence in Spain as well as in-depth knowledge of Spanish statutory compliance. Additionally, the client needed assistance in maintaining their own US accounting & financial records and lacked automation without supporting softwares. The company preferred to focus on scaling in new markets, hiring staff in both the US & Spain and raising an additional round of funding so they partnered with Amesto Global to assist.
“Given our company’s unique set up with the main company in the US but our subsidiary's physical location being in Barcelona, this made Amesto Global uniquely qualified to handle both aspects of our business”
– Chief of Staff, US Technology Company
OUR SOLUTION
Amesto Global is delivering the following solution:
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Thoroughly review and streamline accounting records for both the US parent company and the new Spanish subsidiary
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Seamlessly migrate historical accounting records into a new company-wide cloud-based accounting software
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Conducted an on-site workshop with the Spanish subsidiary’s operational team to document accounting and payroll processes
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Implementation of integrated supporting softwares to automate accounting and finance functions for increased efficiency
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Maintain day-to-day accounting records for both entities, ensuring accuracy and compliance
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Complete month-end closing and consolidated financial reporting
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Efficiently manage Payroll Processing & HR Administration for employees based in Spain, ensuring smooth operations
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Handle periodic VAT returns for the Spanish subsidiary
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Offer complete coordination of services through a dedicated, single point-of-contact for streamlined communication
WHAT OUR CLIENT SAYS
Overall, how has your experience been working with Amesto Global?
Our experience working with Amesto Global has been overwhelmingly positive as your team has actively made an effort to make accommodations for our needs, but never hesitate to provide assistance when we come across something that we could use more experienced assistance with. Both the partners and the day to day accountants have been a pleasure to work with...
WHAT DO YOU VALUE MOST ABOUT WORKING WITH AMESTO GLOBAL?
Given our company’s unique set up with the main company in the US but our subsidiary's physical location being in Barcelona, this made Amesto Global uniquely qualified to handle both aspects of our business as they are one of the few medium sized firms with familiarity in each jurisdiction. I would also add that I've always felt Amesto Global had a more personal touch than other experiences I've had in the past.
How has Amesto Global simplified your business?
Amesto Global has allowed us to focus more on the operations and day to day of the business without that causing the accounting/record keeping falling behind. In a fast-paced work environment, accounting and record keeping are often the first tasks that get delayed, but at a certain point those delays start to cause significant issues as up to date data is no longer available to assist with decision making. Amesto Global has allowed us to focus on making our product the best it can be!
Amesto Global has been very responsive and never fails to promptly provide either a solution, or someone to contact who can help provide the solution. I have yet to receive an answer to a question that was unhelpful.
– Chief of Staff, US Technology Company