If you’re selling to international customers, you need to localize your product and go-to-market strategies. This includes things like local languages being used in your product, across your terms and conditions, and other communications.
Beyond language localization, SaaS leaders also need to understand local data privacy regulations and the types of communication you can send to customers in different countries.
“There’s a lot to consider. Even down to the types of email you can send to customers – the rules around that aren’t the same. What you can send to customers in the US is different from what you can send to customers in Germany.”
According to Peter, part of managing compliance is considering the risks when it comes to things like international payments.
“You could set up invoicing in local currencies but you need to make sure that you can be paid in that currency. If not, is there a foreign exchange risk? And who is taking that risk on?”
In addition, Peter finds that sales tax compliance, the associated work and potential risks are often overlooked. Speaking specifically to US businesses looking to go international – the feeling is often that US sales tax is so complex that international regulations won’t be as difficult to manage.
“Most US heads of finance understand local sales tax but not international – and while different, it can still be very complex. It’s something you need to know and get ahead of to avoid getting in trouble with local authorities.”