Success Story

SPS: Asian Market Expansion

Rousset, France

Headquarter

$121.1M

Turnover

Manufacturing of computer, electronic and optical products

Sector

expand sales of their contactless payment technology into Asia

Challenge

Accelerate your asian market entry

"When you’re alone and far away you really need local support and good advice, especially with contracting and navigating complex visa issues. I’m very glad to have the support of ALTIOS."

Stéphane Livet

VP Sales Asia, SPS IN Group

Challenges

A small company based in the south of France, SPS was ready to expand sales of their contactless payment technology into Asia by opening an office in Singapore.
With no knowledge of the Asian market or local presence, they needed help in the administrative tasks of setting up an entity, as well as recruitment of a new team.

Solutions

ALTIOS supported SPS in the administration, contracting and bureaucratic liaison necessary to set up an entity in Singapore.
ALTIOS continues to manage the bookkeeping, payroll and administrative tasks of the Singapore entity, which has now grown to include the Asian operations of IN Groupe, the company that acquired SPS in 2018.

Results

With the entity established in Singapore in 2014, SPS has continued to grow in the APAC region, with local sales representatives now in place in Indonesia and Hong Kong. ALTIOS’ Asia footprint, with offices in Hong Kong, India and Singapore, has been instrumental in helping SPS navigate recruitment – especially dealing with complex visa issues.

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Tips and Best Practices

Seek Local Support for Administrative and Legal Tasks: When expanding into a foreign market, especially in Asia, it’s crucial to have local expertise to handle administrative tasks, contracting, and navigating complex visa issues. Partnering with a local consultancy can provide essential support.
Recruit Local Sales Representatives: To successfully penetrate a new market, it’s vital to recruit local sales representatives who understand the local culture and market dynamics. This approach helps in establishing a strong local presence and builds trust with local customers.
Establish a Local Entity: Setting up a local entity in the target market is essential for effective operations. This step allows better management of local activities, provides a sense of stability to clients, and facilitates smoother interactions with local authorities.
Leverage Local Knowledge for Growth: Utilizing the local knowledge and network of a consultancy or local partners can significantly aid in navigating market-specific challenges, leading to better market penetration and growth.
Flexibility and Adaptability: Be prepared to adapt and expand your operations as the market grows. Flexibility in managing local operations, such as expanding to new regions within the target market, is critical to sustaining long-term growth and responding to market demands effectively.

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