Case Study: MIVA

Industry: Internet Search Engine
Application: Intercompany Advanced Financial Reporting

Company Overview

MIVA is all about helping businesses grow through performance marketing services. From setting up storefronts to delivering customers to client websites, MIVA can help in multiple ways. To achieve these objectives, it has established three main divisions, each complementing the others and each offering its own unique products and services:

Miva Media - Helping businesses grow customers and revenue
Miva Small Business - Providing e-commerce solutions to small businesses
Miva Direct - Helping businesses develop one-to-one relationships with customers

Business Challenge

MIVA is made up of 11 legal entities. These entities all trade with one another and have to consolidate their results into the NASDAQ listed legal entity.

Intercompany transactions used to have to be keyed twice and consolidating the report to US-GAPP standards was manual, time consuming and prone to error.

Solution

Intercompany Expense Allocation
Advanced financial / consolidation reporting

Benefits

Consolidated reporting time was reduced from days to hours
Elimination of errors by automating inter-company transactions
Reduced reconciliation time

"Using the intercompany service has reduced the effort and removed the errors and frustrations we have been experiencing over a period close."

Barry Mason, Global Financial Systems Manager

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