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Mercator Focus: Q4 2023 Foreword
2023 has been another exceptional year for the Mercator® by Citco (Mercator) team and I’m delighted to introduce the final edition of the Mercator Focus newsletter.
In this quarter, we have celebrated significant milestones and continued our growth journey with new functionalities launched on Entica® – including Ownership Charts and Workflow Automations – further streamlining processes and providing users greater corporate secretarial oversight. As the pioneers of Entity Portfolio Management (EPM), we are proud to be at the forefront of this evolution in further developing Entica® as a cutting-edge workflow, data- and reporting tool to assist our clients.
In November, we announced the expansion of our global operations with an in-house team and office in the State of Delaware, United States (US). The establishment of a physical foothold in the US is another step in the continual development of our service delivery model, enabling us to increase workflow efficiencies and bolstering our service offering to better meet the needs of our clients.
Staying in the US, this quarter we partnered with global law firm DLA Piper, hosting a webinar to discuss the new compliance challenges and key considerations for business ahead of the US Corporate Transparency Act (CTA) on 1 January. For those who missed out, a recording can be found on Mercator.net and the DLA Piper team have kindly contributed a piece for this newsletter summarizing the steps to ensure compliance.
Another key highlight of Q4 was the recent release of our Mercator Entity Management 2023 report, which is gaining acceptance as a true data-driven resource for the industry. This year’s data reveals how the digitalization drive is becoming a deciding factor for EPM efficiency around the world. You can read more about this year’s key findings later in this newsletter.
Notwithstanding the importance of technology, the stakeholders within our clients’ organizations are people. People with whom our client service teams have built a rapport and a close relationship over the years. In that respect, I’d also like to share my thanks for the feedback in our Annual client satisfaction survey – you gave us our highest overall score yet, and we will use this invaluable feedback to further optimize our offering and prioritize items for development that you have highlighted.
As the new year beckons, we are pleased to now offer clients the opportunity to incorporate Tax and Accounting obligations into their 2024 Global Annual Compliance Calendars. We are increasingly seeing Entica becoming a tool for all teams – whether it be corporate secretarial, tax, compliance or accounting – to access as a ‘single source of truth’ and we feature an article on the importance of synchronization and communication between departments.
Finally, we wrap this issue with an article offering guidance on how to approach complex cross-border mergers or acquisitions, based on the various large-scale projects we have completed on behalf of clients this year.
Now, as we look ahead to an exciting year, I would like to thank our clients for their partnership and look forward to growing our relationships and service offering even further in 2024.
Kariem Abdellatif
Head of Mercator by Citco, Citco C&T Holdings (Luxembourg) Sàrl