How To Build A Finance Team For International Expansion

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Building a finance team that is able to scale as your company scales globally requires the right mix of technology, risk management and talent acquisition.

In theory, global expansion is an exciting new chapter for your company. But for the CFO or finance leaders at your company, this global expansion brings with it a host of new questions.

How do we run global payroll? What about tax registration and banking considerations? How do we ensure the employee benefits we offer new hires are both competitive and cost-effective?

For many early-stage startups, finance is something that grows reactively. You might have built just enough finance infrastructure to close the next funding round and keep your watching investors happy.

So when you start hiring internationally, your finance function is placed under renewed pressure.

International growth comes with legal, operational and compliance challenges that affect everything from cash flow to tax exposure. And if your finance function isn't ready, those cracks don't just slow you down - they actually put your business at risk.

We recently sat down for an interview with Katherine Kellett, Chief Financial Officer at Omnipresent and Caitlin Browner, Partner Consultant at Xero to listen to their tips for companies scaling their finance function overseas.

Both are experts in scaling companies across multiple markets and they shared seven key lessons to ensure that your finance function successfully scales alongside your company.

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Lesson 1: Build for speed and control from day one

Here's a scenario that might sound familiar: you've found an amazing candidate in another country, but your legal counsel is telling you it'll take six to nine months to set up an entity there. Meanwhile, your key competitors are already operating in the market.

It’s this tension between speed and control that keeps finance leaders up at night.

"The biggest challenge is actually being able to expand quickly and flexibly," notes Katherine  "When you're going into these new markets, there's extensive investigation required around entity structure, resources, and operational framework."The decisions you make in those early days aren't just about getting that first international hire on board,  they're setting the foundation for your entire global operation. Get it wrong, and you'll be paying for it years later.
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The decisions you make in those early days aren't just about getting that first international hire on board,  they're setting the foundation for your entire global operation. Get it wrong, and you'll be paying for it years later.

"There are some decisions around how you set up the business entity structure-wise that are very difficult to reverse once you've committed," warns Caitlin Browner. "It may not be a big deal when you're small, but as you grow, those smaller cracks tend to grow with you."

Top tips

• Design your initial finance function with global scalability in mind — don't just solve for today's problem
• Establish clear approval processes that allow for speed without sacrificing control (think: who can approve what, and up to what threshold?)
• Document your entity structure decisions and regularly review them as you scale
• Create standardised processes that can be replicated across new markets, so you're not reinventing the wheel each time

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Lesson 2: Invest in financial technology before you need it

Remember that moment when you realised your spreadsheet-based accounting system just wasn't cutting it anymore?

That problem becomes even more pronounced as you begin the expansion into other countries.  Each jurisdiction brings its own reporting requirements, currencies, and compliance needs.

Your technical capability needs to grow with you, and ideally, it should be built before you're drowning in multi-currency reconciliations and cross-border transfers. What should you look for?

Start with these essentials

• Real-time visibility: can you see what's happening across all markets without waiting for the month-end?
• Automation capabilities: are you still manually processing transactions that could be automated?
• Integration flexibility: can your systems talk to each other, or are you creating data silos?
• Multi-currency management: can you handle foreign exchange without breaking a sweat?
• Compliance support: will your systems help you stay compliant as regulations change?

"Making sure that we have all of those integrations and all the data flowing seamlessly throughout is going to make sure that you do have all the information you need at your fingertips when you need it," Browner explains. "Being able to move flexibly and quickly, you need to have the right information in order to do that."

It’s one of the reasons that Caitlin recommends that companies with global expansion plans should consider Xero: cloud-based platforms like Xero increasingly essential financial infrastructure businesses to stay agile as they employ in new markets.

Top tips:

• Implement cloud-based accounting software that supports multi-currency operations now, even if you only have one international location
• Evaluate financial tools based on their ability to scale internationally, not just on what you need today
• Prioritise systems with robust API connections to build an integrated tech ecosystem that grows with you
• Automate routine financial processes to free up capacity for the strategic work that global expansion demands

Lesson 3: Master the complexity of multi-currency management

You've probably already experienced the headache of currency fluctuations if you've done any international business.

But there's a world of difference between occasionally sending an invoice in euros and managing a full-fledged international operation with payroll, suppliers, and customers in multiple currencies.

"Exchange rates can significantly influence and impact revenue and costs, and managing multiple international bank accounts adds complexity to financial management and tracking." Katherine explains.

Most founders are surprised by how quickly this complexity escalates. "At Omnipresent, we have a dedicated treasury manager because of the complexity of our banking transactions and arrangements," Katherine notes. "Even though you might be a reasonably small company, if you are in multiple markets and jurisdictions, there will be significant complexity built around that."

And it's not just about exchange rates, it's about the banking infrastructure itself.

"There are a variety of regulatory requirements around having a local bank account, whether you need someone to actually physically go in and set up that bank account, or can you opt for these more digital banks," says Caitlin.

Top tips:

• Develop a comprehensive treasury policy that addresses currency risk before it becomes a  problem
• Establish relationships with banking partners that have international capabilities - your local bank might not cut it here.
• Consider digital banking solutions that simplify multi-currency management without requiring physical presence
• Create clear processes for managing cash flow between markets, so you're not scrambling when funds need to move quickly

Lesson 4: Build a proactive global tax strategy

Tax is complicated enough domestically.

Now imagine dealing with tax authorities who speak different languages (both literally and figuratively). As your team spreads across borders, your tax exposure multiplies exponentially.

• Beyond just income taxes, you're now looking at:
• Local service taxes and VAT/GST requirements (which vary wildly by jurisdiction)
• Sales tax obligations based on where customers are located (not just where you have offices)
• Tariffs and import duties if you're moving physical goods
• Unemployment and payroll taxes with different calculation methods and filing requirements
• Transfer pricing implications that could trigger audits if not handled properly.

"Is transfer pricing an issue, and is that actually going to have flow-on effects back to the head office?" Caitlin asks. "It's not just about the tax implications in that foreign jurisdiction; it's actually how that flows back to your headquarters."

Top tips

• Engage tax experts before entering new markets, not after you're already facing problems
• Develop a global tax strategy that optimizes your overall tax position, not just country by country
• Document transfer pricing policies that can withstand regulatory scrutiny — this isn't something to wing
• Build relationships with local tax advisors in each market who understand the nuances that global firms might miss
• Consider global employer of record services for markets where full entity setup creates more tax headaches than it's worth

Lesson 5: Design a scalable finance team structure

As your company grows internationally, you'll face a critical question: do you centralise your finance function or build local teams in each market?

There's no one-size-fits-all answer, but there are clear trade-offs, as Katherine explains.

"A centralised team gives you consistency, greater control, and probably cost efficiencies, but it can be slow to respond to local needs. A decentralised team offers agility and on-the-ground knowledge, especially useful when navigating complex regulatory or currency fluctuations."

Most successful global companies land somewhere in the middle. "The key really is finding the hybrid, the centralised transactional work versus perhaps the empowered regional teams to make strategic decisions," Katherine suggests.

Your finance team structure depends on factors you might not have considered:

• Business structure: are your sales teams centralised or local? Your finance structure may need to align accordingly.
• Regulatory complexity: markets with byzantine requirements (think Brazil or India) might need local expertise
• Growth stage: early-stage expansions usually benefit from centralised control until you get your footing
• Technology capabilities: good cloud tools can enable centralised teams to support local operations effectively
• Talent availability: some markets have abundant finance talent, while others might be challenging to staff locally

Top tips

• Start with a centralised finance function for consistency but plan for local expertise as you scale
• Clearly define which decisions require headquarters approval versus local autonomy — don't leave this ambiguous
• Create standardised reporting that works across markets, so you're comparing apples to apples
• Leverage technology to maintain visibility regardless of team location
• Document finance processes to ensure consistency across geographies, even with different team members

Lesson 6: Develop a global talent acquisition strategy

Finding great finance talent is hard enough domestically.

Now try doing it across multiple countries, each with its own qualification standards, compensation expectations, and work cultures.

"Hiring financial talent internationally means more than just finding the right skills. It is about that local knowledge, that legal compliance, but also the cultural fit for the organisation," explains Katherine.

What works in San Francisco doesn't work in Singapore. "Every market has its own expectations on compensation and benefits, and missteps here can cause reputation damage or legal risks," warns Katherine. "So we do need to be very careful with that and have a full understanding of what those compensation and benefits packages should look like."

Once you've hired those global team members, getting them up to speed presents another challenge. "It is crucial that we do get the balance of local onboarding ss well as global alignment," Katherine explains. You need team members who understand both your company culture and local requirements.

Top tips

• Partner with local recruiters who understand market-specific compensation norms, so you're not flying blind
• Create a global compensation philosophy with room for local adaptation — rigid global policies often fail
• Develop comprehensive onboarding that includes both company culture and local requirements
• Establish mentorship programs that connect team members across geographies to build a unified team
• Build an employer brand that resonates globally while respecting local contexts

Lesson 7: Position finance as a strategic growth partner

When you're expanding globally, finance can't just be the department that says "no" or the team that processes payments. Your finance function needs to be a strategic partner that enables growth while managing risk.

"Finance as a function, particularly in a scaling business, is a very fulfilling experience," says Katherine. "You become integrated into the business and will be involved in all aspects, truly partnering with the business."

According to Katherine, finance in scaling businesses has two fundamental deliverables.

Providing relevant financial performance information that drives decision-making.

"We must provide information that enables the process of decision making and supports the business," she explains. This isn't just about backward-looking reports,  it's about insights that help you navigate new markets.

Managing cash and risk according to agreed plans.

"The key risk really for a scaling business is cash. Finance are responsible for managing cash to an agreed plan... If this strategy is off plan, this is a critical risk for the business." This becomes exponentially more complex when you're managing cash across multiple currencies and jurisdictions.

This becomes exponentially more complex when you're managing cash across multiple currencies and jurisdictions.

International expansion amplifies both the strategic importance of finance and the complexity of getting it right.

Top tips

• Include finance leadership in strategic planning from the earliest stages of international expansion
• Create regular touchpoints between finance and other departments to ensure alignment
• Ensure finance metrics align with overall business objectives in each market
• Develop cash management strategies that support international growth without creating unnecessary risk
• Build reporting that helps the business make data-driven decisions about where and how to expand

How to build a resilient global finance department

Ensuring that your finance infrastructure is designed to ensure long-term global growth can feel like a Herculean task. So as you build out your global finance capability, here were Katherine and Caitlin’s top tips

Acknowledge what you don't know

"You don't know what you don't know," Caitlin emphasises. "This becomes more evident the more global your reach goes."

Like we said at the beginning - international expansion is a big step for a business. and even thw most seasoned finance leaders encounter surprises when entering new markets. The most successful ones acknowledge their knowledge gaps and actively seek to fill them, rather than assuming what worked at home will work abroad.

Build a network of trusted advisors

You can't be an expert in every market's financial regulations, tax codes, and business practices - so don’t burn yourself out trying. Both Katherine and Caitlin stress the importance of building relationships with people who are.

"You need to be able to lean on trusted advisors or people who've come before you or people that are experts in this field," says Browner, "so that you don't make huge mistakes at the beginning."

These relationships aren't just for troubleshooting — they're valuable sources of strategic insight about markets you're considering.

Prioritise local compliance & legal requirements from day one

It's tempting to move fast and worry about compliance later, especially when you're racing to secure top talent or enter a competitive market. But this approach almost always backfires.

"Overarching all of these challenges is the local compliance and legal requirements," Kelt notes. "Ensuring that we are obviously compliant, not just with the local but international regulations as well, is really the priority concern when setting up in different markets."

Compliance isn't just a box to check — it's the foundation that makes sustainable global growth possible

That first international hire might feel like jumping off a cliff into unknown waters. But with the right preparation, it can be the beginning of a transformative growth journey for your business.

Building a finance function that scales with your global team isn't about having all the answers before you start. It's about creating systems flexible enough to adapt as you learn, technology robust enough to grow with you, and teams skilled enough to navigate complexity.

As Caitlin herself says, "In order to make those good decisions and to make them quickly, you need to have the right information at the right time. So make it as easy as possible for yourself to have accurate data at your fingertips."

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