Frequently Asked Questions and Support
Introduction
Mondial is a financial close platform that brings structure, control, and confidence to the period-end process. It helps customers to:
- Manage the full close workflow across all entities with real-time visibility
- Create the financial reports needed for management to understand the business internally
Comply with the precise reporting layouts and formats needed by audiences externally
Because the period-end close is one of the most time-consuming, error-prone processes in finance — and it doesn't have to be. Mondial replaces fragmented, spreadsheet-based close processes with a structured platform that gives finance teams confidence in their numbers from the start of the close, not just at the end. It also offers some of the most powerful financial reporting functionality available in the market today for senior finance professionals.
Mondial is designed for any business that needs a more structured and controlled period-end close process. Specifically: • Any customer with more than one company in a group needing to consolidate effectively • Any customer with group companies operating different chart of accounts structures • Any customer wishing to consolidate at cost-centre or dimension level across companies • Any customer with international operations in different currencies • Any customer looking to standardise unusual calendar reporting or misaligned financial year ends • Any customer wishing to drill down on any reported balance to understand underlying transaction data • Any customer that needs to produce financial reports in a regulatory-specified format or template • Any customer that uses existing Excel templates for reporting and wishes to continue doing so • Any customer needing to make adjustments to turn local reports into global-GAAP compliant ones Importantly, Mondial is not limited to large, complex multi-national organisations. The platform is equally suited to businesses with less corporate complexity that simply want a faster, more reliable close. |
The Mondial Value Proposition
Mondial works using a structured process:
- It automatically imports already-validated accounting transaction data from each ERP system and normalises it to a single trusted structure.
- Users manage the close through a real-time dashboard, tracking progress across all entities and ensuring nothing is missed.
- AI assists with reconciliation matching, anomaly detection, and adjustment proposals. Users confirm all AI-suggested actions.
- Users can post additional accounting adjustments that are difficult to manage through the ERP system. These are stored only in Mondial and do not get posted back to the accounting system.
Finally, users can create and run reports in the precise format needed — using the web-based report writer or directly in Excel using a powerful add-in.
The period-end close dashboard gives finance teams a real-time view of where the close stands at any point in time. It shows the status of key close tasks across all entities, who is responsible for each, and what remains outstanding. This replaces the typical approach of managing the close through email chains and shared spreadsheets, which offer no visibility and no accountability. The result is a structured, predictable close process where nothing falls through the gaps.
Mondial is a native AI platform, built on Anthropic Claude — one of the world's leading enterprise AI models. AI is not an add-on to Mondial; it is integrated throughout the platform architecture. Specifically: • AI identifies transaction matches for reconciliation, flagging probable matches for human confirmation rather than assuming they are correct. • AI detects anomalies in the data — amounts that look unusual, transactions that break expected patterns — and surfaces them for review. • AI proposes adjustments based on patterns in the data, which users can accept, modify, or reject. • AI service agents, managed through Mondial's orchestration layer, automate repetitive close monitoring tasks, freeing finance professionals to focus on judgement and analysis. • A natural language query (NLQ) interface is available on every screen, allowing users to ask plain-English questions of their financial data — requesting reports, flagging exceptions, or taking action — without needing to build a report or navigate menus. The guiding principle throughout is that AI suggests and your team confirms. The audit trail records both the AI proposal and the human decision. AI is read-only and cannot modify financial records directly. |
Mondial has been completely rewritten as a native AI platform. This means AI is not a feature bolted on to existing software — it is part of the platform's core architecture. Specifically: • Mondial is built on Anthropic Claude, a leading enterprise large language model, providing state-of-the-art natural language understanding across the platform. • Mondial includes a service agent orchestration layer, which allows AI agents to be deployed to handle multi-step, repetitive close management tasks autonomously, under human supervision. • Every screen in Mondial includes a context-sensitive natural language query interface. Users can ask questions, request reports, surface exceptions, or trigger actions in plain English without any specialist knowledge of the underlying data model. • Because the AI layer is native rather than integrated, Mondial can continuously improve AI capabilities without requiring changes to the underlying application. For finance teams, this means Mondial delivers AI benefits that are immediately practical — not future roadmap items — including faster close cycles, fewer manual errors, and better visibility into the numbers behind every report. |
Mondial's approach to AI security is built on several principles:
- Financial data is processed in-session only. No data is retained by AI systems beyond the immediate request.
- AI is strictly read-only. It can analyse and suggest but cannot modify records.
- All requests are authenticated and encrypted.
- Multi-tenant isolation ensures that one customer's data is never accessible to another.
These controls mean that AI assistance can be used with confidence in a finance environment where data security is paramount.
Sometimes there are specific reporting transactions that cannot be mixed with core accounting transactions, as they would impact underlying data for the respective operating companies. These include: • Intercompany elimination entries required when doing consolidations • Currency revaluation amounts required when consolidating in a foreign currency • Statutory adjustments required when reporting using a different accounting standard These can be generated and stored in Mondial instead of having to add them as final entries in a spreadsheet, which is what most customers do today. |
Intercompany reconciliation is the process of ensuring that transactions between entities within a group are recorded consistently on both sides. In practice, discrepancies are common and can be time-consuming to resolve manually. Mondial automates intercompany reconciliation using a three-tier matching engine: • Definite matches are identified automatically based on amount, date, reference, and period. • Probable matches are flagged for human confirmation where some criteria differ. • Manual matching is available where transactions cannot be matched automatically. Once reconciled, intercompany matches can be finalised and elimination journals generated automatically, feeding directly into the consolidation process. |
Any typical financial report required by a customer. This includes but is not limited to: • Trial Balance • Profit & Loss / Income & Expenditure • Balance Sheet • Statement of Cash Flow • Transaction History Mondial offers individual company and group consolidations of all the above types. It also offers the ability to create reports filtered by account segments and dimension values. A main strength of Mondial is the flexibility and control over the formatting of reports — whether created in the browser or in Excel, the customer can create the precise layout required by the business. |
Yes. Reporting layouts for any type of regulatory authority can be created as templates available to any customer. Mondial can also import and store local authority charts of accounts that map directly on to these template reports. All a customer needs to do at setup is map their existing chart of accounts to the template one stored in Mondial and they can produce the required reports immediately.
Yes. Companies in different countries normally adopt the local version of GAAP for their daily operations and local reporting. However, they may then need to adjust to report using a different standard for head office. Mondial provides functionality that allows each company to adopt its preferred or required accounting standards locally and then adjust to group reporting standards through a separate ledger which has no impact on the local system. |
Yes. Mondial supports the import of unlimited budgets and budget versions. Each report can include information from as many budget sources as are needed to provide the variance information required.
Whenever a customer creates a report, some of the figures on display are totals of one or more accounts for the period. Drill down allows a user to click on a total and see a sub-total of the accounts that make up the balance, then drill down further to view the transactions that make up each balance, and then again to look at any detail behind each transaction.
This is enormously powerful as it gives complete visibility on the detail behind the numbers. It saves time and increases user confidence. This capability is available for any Mondial report, whether created in the web browser or using the Excel add-in.
No. Mondial can simultaneously connect to and report against different ERPs in use by different operations within a group. This is particularly valuable where a customer is standardising on a new ERP system but making the move company by company over time, or where different parts of the business use different systems
Mondial connects to any ERP or accounting system that provides a published REST API, or that supports ODBC or other standard data access protocols. In practice, this covers the vast majority of ERP systems in use today. Named integrations include, but are not limited to: • SAP Business One • SAP S/4HANA • Microsoft Dynamics 365 Business Central • Microsoft Dynamics 365 Finance • Microsoft Dynamics GP • Sage 100 • Sage 200 • Sage Intacct • Oracle NetSuite • Acumatica • Epicor Kinetic • Syspro • Infor M3 • Infor SunSystems • Unit4 • OneAdvanced • Plex • QuickBooks (Desktop and Online) • Xero If a customer's ERP system is not listed here, Mondial's connector framework can be extended to support it. Customers and partners are encouraged to contact Mondial to discuss specific integration requirements. |
Yes. Mondial has an outbound API that can be used to export both accounting data imported from the accounting system, as well as any adjustments subsequently made in Mondial.
For several important reasons:
- Some multi-nationals need data for each company to be physically stored in each country of operation to meet data privacy and security requirements. A separate database for each company facilitates this.
- Data sometimes needs to be held for individual group companies that do not use the main ERP system.
- The data entered directly into Mondial — adjustments, AI-assisted entries, reconciliation outputs — needs to be kept separate from the data in the core accounting application.
Mondial supports all of these requirements.
Integration Information
Mondial supports the import of every GL, AP and AR transaction from your underlying system.
Yes, you can bring in data from as many systems as you need, even if you use different accounting systems for different companies in your business.
This allows you to have your accounting data consolidated into a single repository before you manage your financial adjustments and create your reports.
Yes, you can bring in both actual transaction data as well as budget information.
The budget information can be brought in directly from your accounting system or from another source such as a spreadsheet if you typically maintain it separately.
The Technology underlying Mondial
Mondial is a hosted solution that runs in a multi-tenanted environment. On a case-by-case basis Mondial can allow users to select the country in which their operating database resides if this is legal requirement.
Currently the server used is Amazon Web Services (AWS) and the operating database in Linux.
The software itself has been developed using Ruby on Rails and is accessible through any browser.
Pricing
Mondial is available as a subscription service. The exact monthly cost depends on the number of companies and ERP systems in use, the number of users accessing the system, the number of reporting currencies required, and the number of language versions you need.
Typically, customers sign up for a three-year commitment, with the subscription paid annually in advance of each year.
Yes. Mondial Software provides optional set up, implementation and training help at commercial rates. This allows you to access services on an “as-needed” basis depending on the level of expertise you have in your organization. Note however that the cost of product support is included in your subscription.
Sometimes. Like most companies Mondial Software has plans for the release of future features, usually conveyed in the form of a roadmap.
Everything released through the roadmap is available to customers who subscribe to the appropriate area of functionality covered by the new features.
Occasionally however, customers identify highly desirable functionality that Mondial Software has no near-term plans to release.
For these situations Mondial Software maintains a dedicated development team who work with customers to accelerate the functionality as part of a commercial agreement.
Typically, accelerated functionality is then included in the generally available product. This avoids the newly developed solution being side-lined as a “custom code” and removes the need for specific long-term support costs to be levied on the customer.
All customers receive benefit from this commercially accelerated functionality.
Competitive Positioning
Yes, and it is a mature, established market. Gartner released its most recent report in October 2019 and refers to the leading players in the market as those offering “Cloud Financial Close Solutions”. There is even a Magic Quadrant for the leading suppliers.
From the get-go Mondial has included the key six features that Gartner identifies that are the hallmarks of a full and broad solution.
This includes Reconciliation Management, Intercompany Processing, Financial Consolidations, Financial Reporting, Close Management, and Disclosure Management.
Unlike some of the market leaders, Mondial has been built from the ground -up and from the outset as a pure web application. Our competitors maintain a mixture of cloud and on-premise applications which are increasingly difficult to maintain and optimize.
Mondial has committed to a channel sales and services model. Compliance is a very local subject with rules and regulations unique to every geographic market on earth. Even where regulations are similar there are always cultural interpretation differences. Only local partners have the combination of local compliance knowledge, customer ERP systems, and customer business processes more than a local
partner.
It makes perfect sense for Mondial to provide a flexible transaction management system and a quality report editing tool, supported by a program that provides a local partner with all the tools they need to support each customer’s full compliance obligations.
Mondial is a full-service solution – import, transaction adjustment, and reporting - but has been architected in such a way that it can still work with the tools a customer has already acquired. For example, Mondial has a full transaction processing engine, and a full data warehouse suite supported by a quality report writer. However, if a customer already has a data warehouse tool then the accurate compliance data in Mondial can easily be used with that tool instead of its own, helping the customer get more out of their existing investment and avoiding duplication.
Finally, and unlike larger companies Mondial Software is nimble and quick to move. This allows the company to offer custom development services to meet urgent customer needs but then to easily incorporate the benefits of these features into the core solution.
Mondial offers a full product suite that is easy to implement, web-based for maximum accessibility, supported by a development model responsive to the latest trends and regulatory requirements, and with a distribution model that provides tools for partners with existing customers in local markets.
Top-3 Values for Customers Today
The ability to import data with no re-keying, use of template transaction journals, and flexible report writer, combine to offer real-time savings and value.
Mondial protects the significant investment you have made in your existing accounting or ERP system – which works well for running your entire business - by using the already validated data as the basis for final adjustments and reporting.
Whenever there is difficulty in complying with regulatory reporting requirements this creates risk. The flexible report writing capabilities in Mondial, combined with a unique ability to get the data right through additional accounting adjustments, provide peace-of-mind that the customer can meet reporting obligations now and in the future.