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Push for progress
Tackling localization challenges in new markets
An established investment MLM company with innovative financial products and investment opportunities and a global consultant network made a strategic launch in new international markets. However, the company faced challenges establishing their operations in the new regions. The diverse compliance and legal standards together with transacting in local currencies posed a real concern for the company in the new markets.
The existing system was unable to handle transactions and payouts efficiently through multiple currencies. As a result, the business suffered delays and errors in financial transactions. Inconsistent financial reports and exchange rate inaccuracies created confusion among consultant teams and frustrations among investors. The company’s smooth market entry was also blocked by challenges in accommodating regional legal and compliance regulations.
Analyzing the current challenges and possible future complications in the new international markets, the investment MLM business identified an immediate need for competent MLM software. When they approached Epixel MLM Software, their primary demand was to streamline multi-currency transactions and payouts. We designated a dedicated team to look into the complications and analyze possible solutions with key focus on financial transactions and payouts.
Dissecting the dilemma
The MLM solution rooted in strategy and precision
Partnering with the investment MLM business gave us an opportunity to explore new challenges and provide unique solutions for businesses operating in global markets. The product team at Epixel shouldered the responsibility of developing a tailored solution that can help the company ensure smoother operations in diverse global markets.
We focused primarily on challenges related to multi-currency payments with an internationally compliant payout system. The system handled an increasing number of transactions and exchanges for the investment MLM company in various regional markets. Earnings of investors and commissions of consultants were automatically converted based on real-time exchange rates with reduced to no delays. Consultants or investors could change the currency or mode of transaction anytime without inconsistencies in payments.
Our goal was to present the company with a fully capable MLM platform that could manage international transactions accurately and efficiently. We also made certain that all the business processes were compliant with the region-specific legal and industry regulations. Our ultimate objective remained at improving the financial accuracy, reducing operational risks and creating opportunities for growth in the new international markets.
Key features of the investment MLM platform
Real-time multi-currency transactions: The automated payments system ensured that the transactions were carried out in preferred currencies with real-time exchange rates to improve investor and consultant satisfaction.
Regional compliance management: The customized MLM platform integrated regional laws, compliance policies and local tax regulations to adapt itself to compliance policies of different regions.
Localized reporting and documentation: Admins, consultants and investors can generate localized financial reports on investment performance, commissions earned, profits, team performance, etc. Financial documents and policies can be created and maintained in multiple languages for easier understanding and transparency among stakeholders.
Secure international transactions: Implementing multi-factor authentication and by aligning with PCI DSS compliance, Epixel MLM platform ensured that the company complies with global financial standards. The secure payment system was expected to cut down on breaches, transaction failures and financial frauds by 40% to maintain global financial standards.
Customizable localization settings: The customizable localization module can be customized with region-specific settings such as language and currency. Business admins can set their preferences, date formats and regulatory policies of the operating regions. The easily configurable feature was developed with a view to increase operational flexibility by 60%.
Automated tax calculations: The software was programmed to auto-align itself to the tax policies in the operating markets for reducing manual errors and legal risks.
We adopted a strategic approach that included root cause analysis, customized solution development and rigorous testing to ensure uninterrupted operations for the business across markets. The implemented solutions helped them overcome the existing challenges and offered new possibilities for growth in the international markets.
The result spectrum
Limited growth opportunities to international excellence
Epixel MLM Software created excellent opportunities for the company with optimized business processes and smoother operations.
Improved accuracy for financial transactions: The real-time currency conversion feature was expected to increase financial accuracy by 75% and ensured that there were no delays in payouts.
Reduced risks related to compliance and regulations: Regional compliance management was built to reduce compliance-related issues by 65%.
Improved collaboration: Localized reporting and documentation improved communication and transparency within the consultant and investor network. The documentation and communication tools were integrated to improve collaboration by 50%.
Flexible business operations: Customizable localization settings promised flexibility in business operations with an efficiency rate of 60% to help the company adapt quickly to regional changes.
Alignment with tax systems: Automated tax calculations based on various regional tax policies were set to improve the company’s tax compliance by 70%.
Faster global expansion: In the first year of implementation, the company was expected to successfully enter 30% more international markets with the increased capabilities of the tailored MLM platform.
Increased consultant satisfaction and retention rates: Improved financial accuracy, support and transparent services was bound to create a 40% increase in consultant satisfaction and a 35% improvement in consultant retention rates.
Challenges and opportunities
Getting past the hurdles to growth
Epixel joined hands to get past the challenges that were hindering the growth of the investment MLM business. Identifying each challenge, its cause and a possible solution was a great journey that shaped our experience along the way. However, implementation and adoption did require a prominent share of support from the investment MLM business team.
Integrating with existing financial systems
Challenge: Integration of the new software with all the data and ongoing transactions involved risks related to data and operational disruptions.
Solution: We developed a customized integration approach and conducted extensive testing expecting to achieve 100% compatibility without disrupting ongoing operations.
Training consultants and staff on the new platform
Challenge: The company had a diverse consultant network operating from different parts of the world with varying technical knowledge. Training them and staff was a tough challenge to overcome.
Solution: Live training programs, webinars and multilingual support materials were provided to help them through the onboarding process. Our support team ensured that all users were comfortable using the system and the right support was provided. This support process was intended to achieve an 85% proficiency rate among users within the first two months.
Maintaining compliance across diverse regions
Challenge: The riskiest and toughest of all challenges was to align the business with every region’s legal and regulatory compliance policies. The constantly changing laws and regulations demanded continuous monitoring, adding complexity to the already existing challenge.
Solution: The automated compliance management module was set up to update and monitor regional compliance requirements automatically, which reduced manual monitoring efforts by 50%.
Expected Results
Increase in financial accuracy
75%
Reduction in compliance-related issues
65%
Improvement in communication efficiency
50%
Increase in operational flexibility
60%
Improvement in tax compliance
70%
Expansion into new markets
30%
Increase in consultant satisfaction
40%
Improvement in consultant retention rates
35%
Reduction in manual compliance monitoring
50%
Compatibility with existing systems
100%
Increase in financial accuracy
75%
Reduction in compliance-related issues
65%
Improvement in communication efficiency
50%
Increase in operational flexibility
60%
Improvement in tax compliance
70%
Expansion into new markets
30%
Increase in consultant satisfaction
40%
Improvement in consultant retention rates
35%
Reduction in manual compliance monitoring
50%
Compatibility with existing systems
100%
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