To those who still had some doubts about breaking geographical barriers through technology, Digital Transformation, accelerated by the pandemic in recent years, came to end once and for all the paradoxes that sometimes hindered the internationalization movement of companies.
In the corporate setting of Brazil, there are many companies that have decided to take advantage of the advances opened up by nearshoring and offshoring as a means of strengthening their international advancement strategy.
In this context, a trend that ends up directly impacting all the others stands out: geographic dispersion. Although the economic situation of the United States/China axis still attracts thousands of foreign companies, the decentralization of international operations is noticeable.
Whether by commercial strategy, favorable exchange rate or logistics chain, companies around the world have identified good opportunities for internationalization in countries that were not previously considered. According to information from the Dom Cabral Foundation survey, some destinations included in the expansion route of companies were Mexico, Colombia, Argentina, and Portugal.
Are you interested in learning more about the other challenges and opportunities of corporate geographic expansion?
We gathered here what you need to know about the 3 main obstacles faced in the internationalization of companies, so that you can be prepared for all these developments in order to turn them into strengths. Check it out now!
The challenges of internationalization of companies
Prospecting: customers, suppliers and distribution channels
Using data correctly to generate insights is a trend towards optimization of resources and brand differentiation in the market, whether it is for those companies prospecting in their origin country or those that wish to or already are in an internationalization process.
For global companies, having a comprehensive strategic business intelligence goes beyond the competitive differential and becomes a currency of survival for assertive decision making and efficient prospecting – to find clients, suppliers and/or distribution channels in a new market.
This is where we introduce the concept of Prospecting 5.0, which reinforces the importance of data management in a strategic way to optimize the work of those who seek to find specific profiles of people, increasing conversion.
Cold calls are decreasing, giving way to strategic prospecting using techniques that encompass the marketing and sales teams to reduce efforts and increase results, even in the challenging context of internationalization and the beginning of operations in territories little explored by the company.
Having in hand a reliable database that has a global reach can be a great first step for companies that need a starting point for active and assertive prospecting.
You can’t talk about internationalization without mentioning technology. After all, starting an operation in another country is not the same as opening a branch on the same country.
In general, the concept of internationalization considers a unified performance of the brand, which shares intelligence, replicates processes, and ensures the standard of quality, wherever it is.
Digital Transformation comes to facilitate all these processes as teams and management are integrated through technology and data are accessed in real time – anywhere in the world.
However, it’s the processes that have already been validated and the expertise acquired throughout the company’s operation that will make the difference when taking on an international operation. They are the ones that favor a quick response, crucial to meet the needs of an extremely competitive market.
The capacity to start and maintain an internationalization process depends on the company’s power of adaptation and agility, as well as its willingness to learn new things quickly. The use of global and scalable systems will help in this adaptation.
Thus, globally technological innovative companies are positioned at the forefront as they add value to their processes, products, and services through Digital Transformation.
Know the risks of international operations
As a company expands, its processes naturally become more complex, proportionally increasing the risks.
Detailed knowledge of the regulatory environment, analysis of the supply chain and adequate credit assessment for customers and partners are ways to manage the risks of international operations.
Within this context, CIAL Dun & Bradstreet has built the largest corporate database in the world and, through them, offers the market a universal score for companies – which allows the assessment from a single indicator, considering global criteria.
Whether in specific reports or in constant monitoring, CIAL Dun & Bradstreet has solutions that expand the analysis of business relationships, mitigating risks with third parties. Having standardized assessments in different countries around the world will help the company to mitigate some of the risks of internationalization.
With the right data at hand, it is possible to make the most assertive decisions, even in a very complex environment such as the international market.
With the best of technology, structured processes, and strategic planning, the company is prepared so that the risks are reduced in the face of the enormous opportunities of internationalization!