CASE STUDIES

Cross-border: Italy to France

Some years ago, a major client of our BKR member in Milan, a company quoted on the Milan Stock Exchange, needed support in the setting up, followed by assistance in the potential growth and development, of a French entity. Angelo Colombo of Ditrag therefore contacted Jacqueline Wolfovski of Exponens to start working together.

The Italian company is a leader in e-business solutions. It now employs 11 people in Paris with a turnover in 2009 of € 6 Million.

For many years, Exponens provided a full service engagement in France: monthly bookkeeping and reporting to Milan according to group standards, tax compliance, HR consulting and payroll, and legal formalities’ requirements, since the client had no local in-house accountant.

Towards the end of 2010, due to the maintenance of an excellent working relationship with both the subsidiary team and the parent company finance director, Exponens were entrusted with the implementation of the new Enterprise Resource Planning group. This was a huge project for the client but also for the BKR member firm in France. The engagement has subsequently evolved into a monthly review of the accounts and the preparation of reporting under the group format.

One of our Exponen’s International managers (David Dana, who he is now a partner) speaks fluent Italian. Exponens have also ensured that the team who work on this particular client has been consistent from the early stages, facilitating regular communication and meetings with the client’s financial management team.

Thanks to the close relationship between the two BKR International member firms, Ditrag and Exponens, Exponens has gained a solid client who have now, themselves, started to refer additional new clients to Exponens!