Types of accounting packages

Currently, there are several types of accounting packages for companies, each one adapting to the needs of each organization. It is important to keep in mind that the characteristics, needs, and level of complexity may vary depending on the size of each company.

Basic accounting packages

Entry-level accounting packages are financial tools that are designed for small and micro businesses that do not need complex functions to manage their financial operations. Generally, this alternative is easy to use and its price is lower compared to other alternatives on the market since it offers basic functions such as invoicing, expense tracking, and basic financial reports, which is an ideal financial tool for small businesses. However, this tool has many limitations regarding scalability.

Intermediate Level Accounting Packages

Mid-level accounting packages are financial tools designed for businesses that want to grow or expand their operations and require more features, whether additional or complementary. These types of packages are characterized by offering scalability to companies, in addition to allowing easy integration with other accounting systems, which makes them an ideal option for medium-sized companies and growing companies.

Advanced Accounting Packages

accounting packages are designed for companies that require more advanced and automated functions, such as managing and integrating all financial operations and administrative processes, as well as having the ability to integrate with other pre-existing accounting or financial systems.

Generally, these types of packages require a certain level of advice or training to take full advantage of all their functions, which makes them an indispensable tool for large companies that need to optimize their operations, manage their business processes, and improve the financial efficiency of the entire organization.

Specialized accounting packages or customized

Specialized or customized accounting packages are designed to meet the needs and regulatory requirements of a specific industry. They are generally characterized by offering functions specifically designed to help with the management and financial challenges that certain companies in certain industrial sectors may face. Some industrial sectors that use this type of tool are the health sector, energy sector, construction sector, hotel sector, and non-profit organizations, among others.

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Better financial management

Euro IBAN accounts provide companies with better control of their finances, helping to improve the financial stability of the organization, as well as allowing personalized management through dedicated IBAN accounts, which allow companies to carry out transactions in an orderly and efficient manner.

Cross-border transactions

Euro IBAN accounts for companies allow cross-border transactions (payments and collections) to be carried out easily and effectively, which helps companies optimize their international operations and expand their market reach, since through this type of account, transactions can be made with suppliers, customers, and employees who are located in the more than 88 countries that have adopted the IBAN system.

High level of security

Euro IBAN accounts for companies (EURO IBAN Account) have a high level of security (especially compared to traditional accounts), which allows it to offer companies greater protection in their financial transactions and in the management of their users’ personal information, which reduces the risk of fraud, theft or possible threats.

Compliance with industry regulations and standards

Euro IBAN accounts for businesses that help comply with financial industry regulations and standards, allowing Financial operations to comply with certain industry standards of security and transparency, which reduces the risk of sanctions, fines, or legal problems.

Optimized and efficient transactions

Euro IBAN accounts help companies optimize and improve the efficiency of their financial transactions since these types of accounts are integrated with the SEPA (Single Euro Payments Area) payment network, which allows for faster, more transparent, and lower-cost transactions within the Eurozone. All this allows companies to optimize their financial operations, reduce their operating costs, and improve the financial efficiency of the entire organization.

Additional services

Generally, providers of IBAN accounts in euros for companies offer additional or complementary financial services, which allow to improve the functionality of the IBAN accounts in euros, helping companies to improve and optimize their financial operations and resource management. Among the main complementary financial services, are accounting packages, batch payments, digital wallets, and payment processors, among others.

24/7 Access

Euro IBAN accounts for companies offer 24/7 access through online platforms, allowing companies to manage their finances at any time from any location, meaning that time zones are no impediment to carrying out a financial transaction or operation, which means greater flexibility to make decisions in a timely manner in response to any financial need or opportunity.

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Regulates only ICT within the EU

Many people and businesses have come to believe that the Digital Resilience Act will only apply to financial institutions or companies and information and communications technology (ICT) service providers based in the European Union (EU). However, DORA has a reach beyond the EU and can affect any ICT provider that provides services to EU companies, regardless of their location.

Regulates only cybersecurity

Some people think that DORA only regulates cybersecurity. However, even though cybersecurity is an important part of this regulation, DORA is a comprehensive regulation that covers several aspects, as this law is intended to strengthen the operational resilience of the financial sector in Europe, so that companies can withstand and recover from serious operational disruptions, thereby safeguarding the economy as a whole.

Regulates only financial entities

Many people and businesses believe that the DORA Act only regulates financial institutions. However, this Act implements mandatory contractual terms for agreements between financial institutions and third-party providers.  ICT seeks to ensure that these organizations have clear rights and obligations, thus promoting operational resilience and compliance with the law for all those involved.

Regulation without evolution or application in the future

Some people think that the Digital Operational Resilience Act is a completely new regulation and that it will not have any kind of evolution or application in the future. However, the DORA Act introduces a regulatory framework with a more coherent and comprehensive approach to digital operational resilience, generally to encompass the growing and significant complexity of ICT in the financial sector.

Importantly , this law enhances existing legal frameworks as it builds on regulations related to operational resilience, such as the Network and Information Security (NIS) Directive, the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) guidelines.

Its date of entry into force may be postponed

Some People and companies have come to think that because it is a regulation that has taken more than two years to come into force, the deadline can be changed and postponed. However, the truth is that the date for this law to come into force is set for January 17, 2025, and financial institutions and ICT service providers must be prepared to comply with the regulations from the established date.

What do you think about this topic? Do you want to know more about the Digital Resilience Act (DORA)?

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High level of security

Solar energy companies need online banking with a high level of security, as this will allow them to safeguard and manage their financial resources safely and efficiently, as well as protect the personal information of their clients or users.

At this point, Pilsenga stands out, as it implements different security measures on its platform, such as two-factor authentication, multiple asset custody, identity verification system, transaction approval, integration of security controls, among others. It is important to note that Pilsenga complies with different rules and guidelines established by the financial industry, which guarantees certain standards of quality and security on its platform.

Trust and risk assessment

The solar energy sector is constantly growing, due to this, these types of companies not only look for online banking with a wide range of financial solutions, but also want to have a partner they can trust and that allows them to grow by relying on their financial services, especially through personalized treatment and professional advice during their long financial journey.

Pilsenga stands out at this point since it guides its clients throughout the onboarding process, helping them assess risks and increase trust. One example of this is Pilsenga’s dedicated manager service. One example of this is Pilsenga’s dedicated manager service, which is available 24/7 and provides personalized support in English, Italian, and Spanish (with native speakers).

Accounting package

Solar energy companies generally need an online banking service that provides them with “real-time” information on their financial transactions and resource management, which will allow them to make decisions in a reasonable time, improving the financial management of the entire organization, which will contribute to internal control, regulatory compliance, financial health, and company growth.

In this point, Pilsenga stands out, as it offers an online banking service that has a modern accounting package, which allows companies to access a detailed record of all their financial transactions, allowing them to make better decisions and comply with its various legal and tax obligations. It is important to note that Pilsenga’s accounting package is designed to meet the needs of companies in the energy sector, which is synonymous with a more efficient and effective accounting tool.

Helps expand market reach

Fintechs or institutions that provide online banking services must have the capacity to offer financial tools and complementary services that meet the needs of companies in the energy sector, especially with regard to the growth and expansion of their operations, allowing solar energy companies to expand their market reach.

In this point, Pilsenga stands out, as it has the capacity to offer solar energy companies a scalable online banking service that adapts to the different needs of the sector, which allows the company to grow and develop as it expands its market reach. Among the complementary financial services offered by Pilsenga, we can highlight the dedicated IBAN account service, multi-currency IBAN accounts, payment processors, batch payments, wallet, and exchange.

What do you think about this topic? Do you want to know more about Pilsenga’s online banking service for solar energy companies?

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First digital wallets

Digital wallets have constantly evolved with technology and are adjusting to the needs of consumers. For this reason, it is known that digital wallets have their origin in the first digital transaction recorded in 1994, through an online purchase through the Netmarket website, which managed to sell a CD of the album “Ten Summoner’s Talk” by the singer Sting.

However, it was not until 1998 with the launch of Confinity (after its merger with X.com it was renamed Paypal) that what is known as the beginning of digital wallets was established, since users could store electronic money and make online payments through this platform.

Later, between 2000 and 2005, several systems appeared to facilitate online payments; one of these was Google Checkout (which was discontinued in 2013). Then, in 2008, Bitcoin and the concept of blockchain were introduced, which popularized the use of cryptocurrencies and paved the way for decentralized digital wallets. One of these first cryptocurrency wallets was Bitcoin Core or Bitcoin-Qt, which allowed its users to store, manage, and transact with Bitcoin.

Digital wallets for mobile payments

Between 2010 and 2015, there was a boom in smartphones, which allowed access to more online tools, which boosted the use of mobile digital wallets.

Thanks to the advancement of technology, Companies like Google and Apple launched their respective digital wallets, which allowed users to pay, store cards, tickets, coupons, accumulate loyalty points and redeem discounts by applying NFC (Near Field Communication) technology.

Around 2015, after the launch of Android software, adopted by Google, the use of digital wallets became even more popular, which were generally used to purchase or make payments for applications within the Android and iOS platforms.

Digital hardware wallets

Digital hardware wallets were introduced in 2013, which are characterized by being devices that allowed private keys to be kept offline, making them less vulnerable to piracy and providing a higher level of security and control to users, especially those who managed cryptocurrencies at that time.

Impact of the pandemic

One of the reasons for the acceleration in the adoption of digital wallets was the need for contactless payments since 2020 during the COVID-19 pandemic. This allowed users to make transactions in an easier and safer way to acquire goods and services.

Integration with DeFi and NFT

Another significant advancement that the digital wallet had during 2020 was the ability to integrate with decentralized finance (DeFi) and non-fungible token (NFT) platforms, which allowed the functionality of digital wallets to be significantly expanded.

This integration allowed users to interact with digital wallets through smart contracts, lend (and borrow) digital assets, as well as manage NFTs directly from their digital wallets.

Digital wallets today

Digital wallets have evolved to offer features beyond payments, such as management and storage of digital assets (FIAT money and cryptocurrencies), integration with payment processors, conversion between FIAT currencies and cryptocurrencies, etc. An example of this is Pilsenga’s digital wallet service, which offers a comprehensive solution since in addition to the functions mentioned above, it also offers different tools such as multi-currency IBAN accounts, dedicated IBAN accounts, payment gateway, accounting packages, batch payments, among others, integrating all these tools and functions in one place.

What do you think about this topic? Do you want to know more about Pilsenga’s digital wallet service?

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The post History of wallets first appeared on Pilsenga blog.

Multi-currency dedicated accounts

Multi-currency dedicated accounts allow medium-sized businesses to hold, send and receive financial assets in multiple currencies from a single account. It is important to note that the number of currencies available varies depending on the service provider. For example, in the case of Pilsenga, its multi-currency accounts work with more than 30 currencies, providing a flexible solution adapted to the needs of international trade.

Electronic money

Through the electronic money service, medium-sized companies can carry out their transactions or financial operations effectively and efficiently, especially thanks to the use of currencies or digital assets (which are stored electronically), which allows them to streamline their financial operations and have more flexibility, since cash is not used and dependence on traditional banking services is reduced.

Electronic money services are financial solutions designed to meet the needs of many medium-sized companies, as they allow them to manage funds, improve cash flow, send/receive payments quickly, monitor transactions in real time, reduce operating costs, among others. All of this improves the financial management of the entire organization.

Batch payments

Through the batch payment service, medium-sized companies can carry out multiple payments through a single operation or transaction, which allows for several payments to be made quickly and efficiently, in addition to minimizing manual errors and optimizing the financial resources of the entire organization. It is important to note that these payments can be made to both suppliers and workers (payroll payment).

FIAT Online Ledgers

FIAT online ledgers or online accounting books are financial tools that allow medium-sized companies to manage all their transactions and operations (income, expenses, assets, liabilities) in fiat currency (FIAT) online, which allows the company to have better management and control of its financial resources.

Virtual Currency (VC) Ledgers

Virtual currency (VC) ledgers, or virtual currency accounting books, allow medium-sized businesses to record and manage all their financial transactions/operations (income, expenses, assets, liabilities) in virtual currencies or cryptocurrencies.

Digital Wallet (Wallet)

Digital wallets offer medium- sized businesses a practical solution to securely store the private keys needed to manage their cryptocurrencies and other digital assets. These software-based tools stand out for their ability to streamline payment processes and enable more secure and efficient online transactions, thus facilitating the financial management of medium-sized businesses in the digital environment.

Exchange

The Exchange service allows the exchange and trade of financial assets, including cryptocurrencies, digital assets or foreign currencies. By having an Exchange service, medium-sized companies can buy, sell or exchange their digital assets and become part of the financial ecosystem by having access to a real-time exchange platform.

What do you think about this topic? Do you want to know more about financial services for medium-sized businesses?

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The post What financial services might a medium-sized company need? first appeared on Pilsenga blog.

Comprehensive financial solution

When choosing a financial tool, most companies look for a comprehensive solution. This is where Pilsenga stands out, as it offers different tools such as multi-currency IBAN accounts, dedicated IBAN accounts, wallets, payment gateways, accounting packages, and batch payments, among others, integrating everything in one place, which makes Pilsenga an “ ideal ” comprehensive financial solution for managing the financial resources of the entire company or organization.

Digital wallet

Digital wallets allow companies to effectively manage their different digital assets: FIAT money, cryptocurrencies, among others. In this regard, we can highlight the Pilsenga platform, which offers its clients the digital wallet service, which allows the company to access and manage all its digital assets efficiently and with a high level of security.

International transactions

Most companies that want an IBAN account usually do so to carry out international transactions in a more efficient and fluid manner. Pilsenga stands out in this regard, as it is a company that offers financial products and services designed for companies that have a presence in other countries and that need to carry out international transactions.

Intuitive and easy-to-use interface

Generally, what is sought in a financial application is the ease of managing financial operations and transactions, which is achieved through an intuitive and easy-to-use interface. In this point, Pilsenga stands out, as it offers a versatile platform and mobile application, which has an intuitive and friendly user interface, which allows for efficient management of the financial resources of the entire company or organization, in addition to offering a better user experience.

High level of security

It is important that the financial platform or tool has a high level of security, as this allows the personal and financial information of its users to be protected. At this point, Pilsenga stands out, as it offers different products or services (for example, IBAN or Wallet accounts) that run on an ecosystem/platform that has high levels of security, as it has different protocols and security measures, such as integration of security controls, transaction approval, custody of multiple assets, identity verification platform, two-factor authentication, among others, in addition to complying with the different security standards of the financial industry.

Types of currencies and cryptocurrencies

When choosing an IBAN Wallet App, you usually look for one that supports different types of currencies and cryptocurrencies, especially to have different payment alternatives. Pilsenga stands out in this regard, as it offers multi-currency IBAN accounts and wallets /payment processors that work with different cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

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The post IBAN Wallet App: Why choose Pilsenga? first appeared on Pilsenga blog.

However, when choosing a Bitcoin payment gateway, it is important to take into account certain factors. Below, we will share some tips for choosing a BTC payment gateway provider.

Security level

When choosing a BTC payment gateway provider, it is advisable to evaluate the level of security that the provider’s platform has. It should be noted that a BTC payment Gateway that has solid security measures allows for generating greater confidence in users. Some of the highlighted security measures are data encryption, two-factor authentication, and identity identification, among others.

As we saw in our previous article, when choosing a payment processor, it is important to take into account the security level of the platform, since a system with a high level of security will reduce the chances of users’ financial information being exposed or vulnerable. For this reason, it is essential that companies evaluate the level of security that the provider’s ecosystem has.

Regulations and standards

When choosing a BTC payment gateway, it is advisable to verify that the provider operates in compliance with the different regulations and standards of the financial industry, as this allows to demonstrate that the tool complies with the different financial regulations of the sector, which will avoid legal problems and possible crimes such as fraud, money laundering and financing of terrorist activities.

Level of integration

When choosing a provider, it is advisable to evaluate the level of integration that their payment gateway has with the existing financial systems, which are used to carry out financial transactions and accounting operations. It is important that the payment gateway has add-ons or APIs that facilitate integration with other existing financial tools without requiring complex configurations.

Additional functions and services

When choosing a Bitcoin payment gateway, it is important to know if the provider can offer other complementary financial functions or services. This factor is important since the payment gateway must generally meet the needs of the company or business, so it may be necessary for The provider to have complementary financial tools and services that further simplify asset management, such as dedicated IBAN account services, batch payments, wallets, accounting ledgers, among others.

Customer service and reputation

When choosing a BTC payment gateway, it is advisable to select a provider that can resolve any issues quickly and effectively, as well as offer personalized and professional support. At this point, it is advisable to evaluate the provider’s reputation, reliability, and customer satisfaction level.

To assess the level of customer service, we can contact the provider through their different official digital channels see their response times, and verify the quality of these responses. Regarding reputation, we can see ratings or reviews from other customers/users on official platforms. For example, we can see reviews of their app on Google Play (Android) or App Store (iOS/Apple).

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A Crypto Wallet IBAN allows you to link digital assets (such as cryptocurrencies) to traditional bank accounts using an IBAN (International Bank Account Number). However, to ensure that a Crypto Wallet IBAN meets the user’s needs, it is important to choose a suitable provider. Below, we will share some tips for choosing an ideal Crypto Wallet IBAN provider.

Evaluate license type and services

To choose a Crypto Wallet IBAN, it is advisable to evaluate the type of license that the provider has, as this will help us know what type of service they can offer us, which will allow us to evaluate whether the said provider has the capacity to meet the needs of our company or organization, in addition to verifying the legality of said service.

Evaluate costs per operation

When choosing a provider, it is recommended that the costs of each wallet function be evaluated. We can also compare the rates and costs of other providers to choose the alternative that best suits our needs, thus minimizing any additional fees or expenses that may arise. transfers, sending and receiving payments, maintaining the wallet and IBAN account, as well as the costs associated with the exchange, conversion, and purchase/sale of currencies or cryptocurrencies.

Evaluate security measures

When choosing a wallet, it is advisable to evaluate which security protocols and measures the provider implements on its platform. At this point, it is advisable to evaluate whether the provider implements security features such as identity verification, data encryption, and two-factor authentication (2FA), among others, in addition to complying with the different regulations of the sector, since this guarantees certain security standards, which is important to avoid any type of unauthorized access or fraudulent transaction.

Compliance with regulations

When choosing an IBAN Crypto Wallet, it is advisable to evaluate which regulations and laws the provider must comply with to offer such a service. At this point, it is important to verify which is the jurisdiction of the provider’s operations, in addition to the countries where transactions or financial operations can be carried out since there are cases where the provider may be “legal” in some countries and “illegal” in other countries or territories.

Choosing a provider that meets the different standards of the financial industry will allow us to have a platform that has a certain level of quality and security, in addition to helping us avoid sanctions or legal problems in the organization.

Evaluate the level of integration

Evaluating the level of integration of a Wallet is essential to ensure the functionality, security, and usability of the wallet in a financial and cryptographic ecosystem.

A Crypto Wallet IBAN allows you to link digital assets (such as cryptocurrencies) to traditional bank accounts using an IBAN. Testing the integration ensures that the wallet can seamlessly handle SEPA transfers or other banking transactions. A proper integration allows users to handle both digital assets and fiat currencies from one place, making payments, withdrawals, and deposits to bank accounts easy.
Good integration ensures a seamless user experience, enabling fast transfers between cryptocurrencies and fiat currencies, international payments, and access to advanced financial services.

What do you think about this topic? Do you want to know more about Pilsenga’s IBAN Crypto Wallet service?

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Increases the risk of asset loss

Some people and companies think that using financial services for businesses increases the risk of losing financial assets (crypto-assets or fiduciary assets) due to the insecurity that may exist in the provider’s online platforms and ecosystems. However, companies authorized to provide financial services have different security measures and protocols within their platform or ecosystem (where their different financial tools operate).

Among the most notable security measures and protocols are the custody of multiple assets, approval of transactions, the identity verification platform, integration of security controls, and two-factor verification, among others.

Hidden commissions

Some people believe that companies offering financial services have “hidden” fees for service maintenance, operations, or transactions. However, financial services are offered by a wide variety of legally constituted companies and financial entities that operate under the main standards and regulations of the financial industry, which forces them to publicly display the fees or commissions they handle, not only for regulation but also to be more transparent, generate trust, be more competitive in the sector, allowing the client to compare these fees with those of other entities and choose the financial services provider that best fits their expectations. And needs.

Exclusive service for large companies

Some individuals and small businesses believe that financial services are for the exclusive use of large companies. However, financial services are designed to offer a wide variety of financial solutions for all types of companies: small, medium, and large.

It is important to note that there are financial institutions that specialize in offering services to companies of a certain size (for example, medium-sized companies), allowing them to efficiently manage their resources through financial solutions that best adapt to their needs and that have the capacity to scale as companies grow and expand their market reach.

High-cost service

Some people and companies think that financial services for companies are expensive, which can generate additional or unnecessary expenses for the company or organization. However, companies that have financial services have the advantage of optimizing their operations and financial transactions, which leads to savings in time, labor, and economic resources, allowing for greater financial efficiency for the entire organization.

Regional and limited service

Some people think that financial services for companies are designed only to operate at a regional or national level, which limits the expansion of their operations internationally. However, most financial services for companies have been designed to be scalable, which allows for market expansion internationally since, through these services, companies can have a presence in different countries, being able to send and receive payments internationally quickly and effectively.

What do you think about this topic? Do you want to know more about Pilsenga’s financial services for companies?

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