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About the Company Business Services
 

“The business of business is business,” according to the American economist Milton Friedman. Anyone who has tried to do even a simple business deal in a foreign country realizes very soon that although everyone may be interested in doing business, what it means to 'do business' can differ widely among the stakeholders sitting around the conference table.

Newtac can help your company navigate unfamiliar territory with a package of services that supports your globalization process from planning and evaluation through registration and implementation all the way to operations and profitability.

Join us at any stage in the process and we will deliver the same level of local knowledge and insider-savvy that we bring to our translation and software products.  You can count on Newtac to give you a clear picture of the opportunities and risks inherent in developing new offshore markets for your US products and services, and to support your plans to develop and profit from these markets.

Here are a few ways we help our client companies open global markets:

Market evaluation, sizing, monetizing, and identifying access channels

With the large US market in our back yard, many American companies have relied on domestic sales, believing that entering a foreign market would be costly and involve a steep learning curve.  The possibility of gaining hundreds of millions of new customers is attractive, but the best path to these customers is often unknown.  How large is the market, really?  Is it one market, several regional markets or a chain of urban centers?  What are the most profitable approaches to selling our products and services in these markets?  How does our pricing compare with domestic alternative products?  What additional costs will we face if we export and distribute through local representatives? What is the real “bottom line” opportunity offered by expanding our international sales?

For companies who are just beginning to consider a serious push into foreign markets, Newtac can provide both the language support you will need to get your message across to your new customers, and the business information support your management team will need to chart your way to success in new markets.

Business representation

As you evaluate your interest in opening international markets for your products, we can provide business representation services that give your company an international presence at a fraction of the cost of opening an office.

Business representation services include a local mailing address, phone numbers and same day response to business inquiries on your behalf.  When the representative office receives an inquiry, the system immediately sends a message saying, “Thank you.  Your question has been forwarded to the appropriate department.  You will receive a response shortly.” At the same time, the question is translated into English and forwarded to your designated contact person for a detailed response.  From the perspective of your customer in the foreign country, it’s as if you have an office there to provide vital customer relationship management services on a 24/7 basis.

In every country, responding to customers in a timely and sensitive way is a big key to success.  We allow you tools to do just that, without making a large financial commitment to open an office in a foreign market.

The service also can provide trade show representation and other marketing support including PR reports and advertising copy localized to target domestic customers. 

Product registration

What will it take to get products registered in new international markets? What types of IP or patent protection is available and how can your company process the paperwork required to get new products registered?  How do the registration processes differ between industries? Which set of guidelines should you follow?  Regardless of industry, all product registration applications must be submitted in both the host country’s language and the language of the product company headquarters.  With our proven strength in overcoming language barriers, Newtac is the right source for support in project registration. 

Newtac provides clerical support in multiple languages for your new product registration.  We can assist you in filing forms and following up on all of the paperwork required to successfully register new products.

Taxation and accounting

For companies doing business in foreign countries for the first time, learning about the taxation and accounting rules that will apply to their business is a fundamental neccessity.

In conjunction with our web-based ordering and logistics service, we can capture and organize financial and accounting information to make tax reporting easier and less expensive in both the foreign country and the US.

Orders and logistics

Get up and running in your new market without an up-front investment in warehousing and logistics support.  Using one of Newtac’s B2C or B2B web-based inventory and ordering systems can be a way to jump-start your market entry.  With no need to ship inventory until it’s sold, you can take advantage of just in time delivery and eliminate costly long term storage.

An added advantage of these web-based applications is the fully documented accounting trail they provide that enables management to evaluate centers of revenue and profitability and to streamline operations and fine tune marketing messages based on real-time information.

Payment processing

Newtac provides payment processing support in a variety of currencies, updated continuously as official bank rates change.  The online order processing and logistics system features security protections that safeguard financial transaction information and guarantee your payments.

Newtac has alliance relationships with all of the Asian online payment and clearance banks.  This reduces float time and virtually eliminates the risk of non-payment for goods sold.