Cost-Saving in Today's Economy
Even in the midst of a recession, there is opportunity. Prove that your product can save time and money, and you’ll have a winning proposition.
During the dot-com boom, concepts like monetization and ROI seemed irrelevant to many of us, evoking nostalgia. In the last two years, the buzz around digital transformation has drawn parallels with big data, AI, and IoT.
Fortunately, hyperbole didn’t peak this time. However, with rising economic uncertainty, vendors must prove their products save costs effectively. Elusive promises and nebulous claims no longer cut it. Customers want measurable, real-world results.
With that in mind, automation is looking pretty attractive right about now. Combine that with meaningful risk-reduction, and you have an even better value proposition.
Consider what this looks like for a growing business with subsidiaries spread across several continents. You have multiple corporate entities, each with its own chart of accounts, and each with its local statutory reporting requirements. You’ll likely need to render your financials in multiple GAAP/IFRS formats to satisfy local regulators. You must consolidate the information into a comprehensive view and produce reports adhering to your country’s legal standards.
Many organizations tackle this issue in two ways: they invest in costly financial reporting systems or painstakingly create reports by combining data in spreadsheets.
The former option is generally very expensive and time-consuming. The latter is also time-consuming and therefore expensive in terms of staff time and opportunity cost. Unfortunately, it’s also highly prone to error.
Here’s how Mondial can save money:
- Mondial reduces the time and effort needed to produce accurate, timely financial statements.
- Mondial increases accuracy and reduces audit risk, delivering consistent results formatted to statutory reporting specifications.
- If you undergo an audit, Mondial cuts audit costs by offering a comprehensive, auditable repository for GL and subledger transactions, including line-item details.
Operating across borders with various currencies and reporting to multiple governments? Choose Mondial for cost-effective solutions. Schedule a 1:1 demo to learn more.
If you’re an ERP partner selling SAP Business One or SME software, Mondial can boost revenue and enhance customer satisfaction. Schedule a meeting with our channel management team to learn more about the opportunity for your business.
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