Vyrian is one of the industry´s fastest-growing electronic component distributors. The company has developed rapidly since it was founded in Texas, USA, in 2011.
Through the years, they continuously specialize in distribution, sales, and marketing of semiconductor passive and active components. In 2017, the company has an existing 250,000 unique active electronic parts which are shipped across Europe, Asia, Africa, and the Americas.
Their expertise in terms of quality assurance is validated through their ISO 9001:2008 certification which marks their commitment that the customers are guaranteed to have a satisfactory purchasing experience. Furthermore, they also offer diverse comprehensive parts testing to ensure their products´ authenticity, conformance, and functionality. They are bound to practice this high standard and utilization testing because Vyrian is a member organization of Government Industry Data Exchange Program, a cooperative endeavor between government and industry participants in the United States and Canada.
Vyrian has recognizably established its company specifically in the United States. Although its customers are pervasive worldwide, the necessity to have a stable branch specifically in Europe was apparently targeted by the company´s management. One of the company´s reason for expansion was they intended to leverage its products alongside emerging international companies. Vyrian wanted to further develop the company´s market position and to establish strong business relationships across European market.
Thus, Germany´s strong economy was attractive for the company as the country can be considered to be an ideal commercial hub for sales, marketing, and product strategies growth. Furthermore, due to the desire of European customers preferring to trade with a European company, Vyrian decided to open a legal entity in Germany. Vyrian uses the image of a German company as it has a great reputation among the German and European market and allowed also a great freedom in doing business worldwide. The German entity was considered as a cornerstone and exploration of Vyrian´s scale-up within the local region as well as it can also be a gateway for European Union´s sales operations.
Before Vyrian started their operations, three prominent business challenges clearly emerged. First, the company should then be familiarized with the bureaucratic system in Germany. This was necessary to determine the necessary registrations, and authorizations which can be directed to the US main branch. Second, they also needed to be informed about the relevant licenses, permit, and certifications in order to ensure that its products´ quality adhere to the German and European´s industry standard.
Through relying on the company´s own efforts, Vyrian decided to enter the German market and initially planned to set-up a Niederlassung. After some time, they realized that what they chose was inappropriate to its operation because the business set-up cannot necessarily support the company´s sustainable business in Germany. The complexity also was heightened because of this third challenge. In effect, they needed a strategic partner based in Germany to provide experts´ solutions to the company´s specific status.
Being an experienced market entry solutions provider, Consultinghouse has been a reliable partner with great expertise in helping international companies to incorporate in Germany. Vyrian and Consultinghouse´s partnership already existed before, since Consultinghouse has initially provided payroll services to the company. Trust and credibility were already established so Vyrian knew that Consultinghouse is capable to support the entire structuring of the company.
Consultinghouse initially investigated Vyrian´s case vis-a-vis its stated business challenges. Both parties discussed the advantages and disadvantages of the company´s current situation. Through the guidance of Consultinghouse´s business experts, Vyrian´s management reached to a decision that a GmbH business set-up is suitable to reach their full market potential.
A solid and personalized systematic market-entry approach was determined by Consultinghouse to guide Vyrian through a feasible timeline and required steps for the tailored incorporation of a German GmbH.
After the timeline and requirements were discussed, appointments were scheduled with the local authorities for registration and bank institution to set-up a bank account in Germany.
To ensure product development, a market-entry specialist was designated to assist Vyrian to gain the required certification, and legalities to assure that their products comply with the German and European quality standards.
To stay compliant in Germany, Consultinghouse´s accounting and payroll team still continuously supported Vyrian in terms of their monthly and year-end payroll and accounting requirements.
Vyrian has successfully setup a GmbH in Germany which is the right German company form to fully support the company´s long term business goals. Vyrian and Consultinghouse´s partnership has provided numerous opportunities for the company to explore and further develop their products and services given the demands within Germany and across the European markets. Consultinghouse has supported the company reached a solid German-based legal entity in order to fully operate and maximize their sales revenue.
For more information about Vyrian, please visit www.vyrian.com