Foreign companies with mid-size subsidiaries in Japan often have a hard time setting up an effective bilingual finance department in Japan. Effective bilingual employees can be difficult to recruit, and once they are hired, it can be difficult to retain them. The market for bilingual employees in Japan is extremely competitive, and as a mid-size foreign company, you may find that recruiting firms are targeting your best people. If long-term employee retention is your goal, you will need to offer attractive perks and benefits to keep them on your team.
Business process outsourcing can solve these issues.
Some companies are large enough to support an in-house finance department. In these cases, finance consulting in Japan can help you identify specific tasks that could be outsourced, saving you time and money. Not only can taking advantage of finance services in Japan save you money, but it can also make your entire organization more efficient, making it easier for you to manage your team and focus on your core business.
For smaller companies, having an in-house finance department usually does not make sense. By utilizing outsourced finance services in Japan, you can save your company the burden of employee salaries, benefits, and more. Our finance consulting will help you determine if your ongoing finance tasks warrant staffing a dedicated department. As a foreign business owner in Japan, outsourcing your company’s finance functions can give you the freedom to hire additional employees in other departments to provide a better experience to your clients and customers.
At JMC, our team has combined decades of experience consulting with foreign companies about their overseas business. We utilize a personalized approach to ensure we can develop solutions that make sense for each company. Get in touch with JMC today for advice about your finance functions as well as ongoing services like payroll, accounting, office setup, and more.
The outsourcing solutions we recommend vary based on the size of your company. For companies with up to 10 employees, we believe you can be most efficient by completely outsourcing your entire administrative function.
For companies with more than 10 employees, we advise using a combination of strategies, like outsourcing high-level professional services and using long-term temporary staff for everyday routing functions like issuing invoices for client payments and vendor invoices.
Of course, it is important to recognize that every company’s situation is unique. If you want the best advice, we recommend that you contact JMC as soon as possible so we can work together to develop solutions that are most appropriate for your finance function needs in Japan.
Disclaimer: The information provided here is for illustrative purposes only. JMC cannot be held liable for any decisions made based on this information. For specific advice about your company, we recommend setting up a consultation with us as soon as possible.