Tricor continues to be a reliable, trustworthy and knowledgeable partner for us. They are a critical component to the successful running of our business in Mainland China.
Susan Wolf, SVP Corporate Development and Administration, Yamaha Guitar Group
Challenges
Doing business in China requires a combination of understanding of the latest regulations, business culture and thorough planning to get each step accurate and on time.
The client was faced with multiple challenges from the start, from cultural differences to ensuring compliance with stringent control policies, notably cash and capital account. The ever-shifting business environment with increasingly complex requirements proved difficult to navigate. The client was in need of extensive back office support to allow their team to focus efforts core functions, namely developing a quality control and engineering centre in China.
Tricor successfully implemented customized solutions to springboard the client’s quality control hub in China, with a careful and scalable selection of business models.
Having co-founded Line 6 in 1996, Susan Wolf has been leading and growing their quality control team in Southern China, and forging the partnership with Tricor in 2004. Over a decade later, Yamaha Guitar Group is now not only renowned for its quality musical products in China, but also enjoys direct sales capacity in the local Chinese market.
Solution
Before the setup of a local quality control team, Line 6’s US executives had to travel back and forth across the continents. To streamline processes and minimize unnecessary travel, a new office was set up in Shenzhen, with an on-site local quality control team.
Benefit
One-stop-shop dedicated partner to drive business success
Rather than involving multiple disparate vendors for various services, Yamaha Guitar Group was able to engage and rely on Tricor to manage all of its requirements. Outsourcing all business activities to Tricor ensured efficient planning and coordination across company branches and back office processes, from payroll and taxation to bank account operation and bookkeeping. Law or audit firms would not have been able to handle matters pertaining to bank accounts nor execute transactions with company stamps. Tricor was able to provide consistent and expert support through every stage of the business, including administrative paperwork, day-to-day maintenance and financial planning.
