About the Client
Pango is the provider of online privacy and security software designed to securely browse information on the web. The company's online privacy and security provide a virtual private network for secure web browsing which is available for various platforms, enabling users to avoid browsing restrictions, whether due to location or government crackdowns.
Automated revenue recognition for the vast majority of our subscription and advertising businesses. No more manual waterfall schedules! Integrated 7 payment platforms into Oracle: Apple, Google, Google Ads, Vindica, Braintree, Microsoft, and Digital River. In addition to revenue automation, we also implemented purchasing, accounts payable, general ledger, fixed assets, and cash management - all of which have some form of automation that will improve our lives and give the company greater visibility over its working capital. Vastly improved speed and accuracy of financial reporting. We can now report consolidated financials within Oracle, having the system combine 12 legal entities across 5 different countries into one combined set of books. This was previously a manual process in excel, and I speak for the team when I say that no one is mad about never having to do that again.
- Nicholas Leader - Controller
Pango was previously using On-Premise QuickBooks for Financials & Accounting. Therefore, a skillful-workforce is required to maintain the database. Pango's major concern was AR invoice automation, as it deals with more than 7 different platforms (e.g., Apple, Google, Microsoft, Digital River, Vindicia, etc.) having different frequencies which could be daily, weekly or monthly. As they don't have any details for each transaction, they tend to keep updating their books directly, which leaves the detailed analysis of deferred out of question. And, this was the reason for their constant headache of consolidation! Pango was booking their sales manually and they had to create waterfall schedules (deferred revenue) manually.
Pango did not have any unified platform for financial reporting and this was leading to disorder. Pango needed a spreadsheet-based approach for depreciation of its tangible and intangible assets. Bank reconciliation was difficult to handle as there was no systematic approach. Another hurdle was approval for business processes because like most of the processes it was manual. At the time of period close, considering all the mentioned business challenges, sub-ledger to GL reconciliation was really tedious as it was done manually! This results in a delayed reporting to management.