Newzoo BV: The world’s most regarded and quoted source for market insights and data in the video gaming industry.
We assist some of the world’s most well-known entertainment, technology, and media firms in identifying their target audiences, tracking competitors, seeing opportunities, and making strategic and financial decisions.
Newzoo, a market research firm specializing in video games and esports, has teamed up with Reddit, a social media platform, to gather information on consumer involvement with video games.
The cooperation is intriguing because many of Reddit’s 430 million monthly active users are gamers, and Newzoo will be able to mine the audience for data relevant to its game market analyses, according to the firms.
The company will combine its existing game data with community insights from the gaming industry’s most popular social platform.
Newzoo now has access to Reddit’s aggregated data on game engagement, which is powered by the social community platform’s members, as part of the agreement.
Users can browse engagement from Reddit’s key gaming-related subreddits and gauge the degree of community activity around any game IP using a range of measures such as total subscribers, posts per day, and comments per day in the first phase of its implementation.
Newzoo Will Extend These Insights Over Time!
Both firms also plan to combine social, viewing, and gaming engagement data to provide unique insights and analytics that will be useful to game creators, publishers, and any other market with an interest in games.
Newzoo has a three-person finance team that works hard. And, as a savvy, forward-thinking business, it recognizes the importance of putting new technology to work wherever possible.
“Because our staff is so large, we handle everything from bookkeeping to accounts payable and receivable, expense reports, travel charges, and other administrative chores.” It also includes forecasting and financial reporting.”
“Our goal is to automate as much as possible so that we may concentrate on higher-level tasks rather than booking payments and other minor details.” I believe we are making significant headway in this direction; we have already automated many of our procedures.”
Spendesk allows the team to skip many of the time-consuming processes that slow down so many businesses. All types of expenditures, such as expense claims, internet purchases, and subscriptions, are now processed quickly.
“Automation saves us a lot of time, prevents mistakes, and gives us more time to focus on forecasting or perhaps pay more attention to how to classify different expenditures.” Instead of just processing masses of data, we now participate more in the company’s decision-making by giving more valuable financial insights as a finance team.”
Managing Subscriptions to Software
Software subscriptions are a difficult problem for many businesses. When you make all of your payments using the business credit card, you’ll quickly run into problems.
“We used to put the majority of our software subscriptions and out-of-pocket payments on credit cards, which made it tough to keep track of.”
It was difficult to determine which team was responsible for certain expenses or software subscriptions, particularly because multiple teams had separate subscriptions for the same product.
Keeping track of all subscribers became a major undertaking.”
“We adore the virtual cards,” Stella Zheng, Assistant Controller, comments. They’re a great way to keep track of all the software costs because we can set a monthly budget for one package, one subscription, and then match that budget to the appropriate team.”
“They manage to avoid doing a lot of extra labor.” Previously, if an employee wanted to pay for new software, they had to speak with the office manager, who would either purchase it for them or physically walk to their laptop and enter all of their banking information. Employees, on the other hand, can now accomplish everything with the virtual card.”
Reimbursing Employee Cost Claims Is Simple
Spendesk was hired by Newzoo to manage its subscriptions. However, it remained for expense automation. “Once we started utilizing Spendesk, we saw how much better the expenditure reimbursement procedure is than previously.”
“We were on a different platform, which was also automated.” For the typical employee, however, it was less advanced and overly difficult.
People had to manually submit expenditure reports, upload all of their data, and apply accounting codes and VAT. The process was particularly difficult to follow for newcomers.
“Now they simply grab our login information, drag and drop their receipts, and forget about it.” We’re hearing from everyone in the workplace about how simple it is to learn and how user-friendly it is.”
Another improvement over the previous method is the option to refund out-of-pocket expenses directly from the Spendesk wallet, which means that once expense reimbursement requests have been approved, they can be reimbursed immediately.
Instead of uploading SEPA forms to the bank portal, we can distribute them directly. As a result, employees are reimbursed more quickly, and the finance department spends less time on this task.
Making the Process as Simple as Possible for the Entire Company
Newzoo’s main purpose is to increase automation. However, as Martynas says, this only works if the tools are simple and rational to use for everyone. One of the main reasons he picked Spendesk was because of this.
“I believe the first thing that attracted me was the user experience. I had just logged in for the first time and understood exactly what to do. “Everything is provided clearly.”
This is, of course, far more important for non-finance team members. “ ‘It will be the same for the ordinary employee,’ I reasoned.
‘I need to click here to report my expenses,’ they’ll know right away.’ As a result, the onboarding and ramp-up process is a breeze.
The ability to combine numerous existing tools into one was an extra plus. “It contained everything we required.
Physical cards, subscription tracking, and spending reporting are the next steps. We were satisfied with the old software, but we discovered that we could have all three in one package.”
Keeping Track of Permissions Is Simple
Another important component of the finance team’s job is preserving accurate records for assurance and audit purposes.
This encompasses not only the transactions themselves but also the approvals workflow, as well as the persons that request and approve them.
The audit trail is also taken care of by making it simple to approve and track permissions for each payment. “As soon as people submit expense reports, email notifications are sent out immediately.” The managers are aware that they have anything outstanding to approve.”
“Previously, we had to follow down team leads and remind them that they needed to approve a slew of expenditure reports.
Employees were experiencing a delay between expenditure filing and payment release as a result of this. However, the email flow is efficient, and it also applies to receipts. ‘Purchase successful,’ they are reminded. Please include the receipt in your submission.
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