BPO AUDIT TAX

Automotive suppliers

No matter where your company is situated in the automative supply chain, you have to face strict technical and logistical requirements for sure. Can you meet them without appropriate financial information?

Quality and efficiency
It is difficult to plan and prepare a proper quotation without accurate information relating to previous periods. In the automative industry all revolves around quality and effectiveness, so no supplier can afford to make mistakes. Adequate resource without planning: unsolvable.

Delivery times set in stone
The inventory management of automative companies fits textbooks. Only the necessary stock can be delivered to the factory and only when it will surely be installed shortly afterwards. A component arriving late may hinder the entire production process, so no supplier can afford and is allowed to depart from the deadlines fixed in the contract. This requires careful planning from the supplier. It is unfortunate when a material or a component is not received because the supplier has cashflow problems.

Payment deadlines
Obtaining a supply contract is great pleasure but it also requires a lot of money. In many cases, suppliers take out a loan to the production and finance the raw materials. Creditworthiness and the credit limit is highly dependent on the profitability of the supplier, the volume of the supplier's contract and the quality of the financial statement/accounting as well.

Consolidation under IFRS or HGB
In many cases the automative supplier companies operating in Hungary carry out their activities as a subsidiary of an international group of companies. Most automakers in Hungary have their centers in Germany, so some of the related suppliers follow them and establish premises in Hungary. After establishing a site in Kecskemét, Mercedes has attracted many new foreign suppliers to Hungary.

Our experts are at your disposal not only in Budapest, but also in Kecskemét that is popular among the supplying companies. Whether it is accounting, auditing, payroll or tax advice, our colleagues with their extensive experiences are capable of helping the supplying companies' activities with accurate and reliable services.

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