Encoding that deals with multilingual displays or multilingual processing

Unicode enabling allows for multilingual text using any or all the languages you desire. Having just one way to process text reduces development and support costs, improves time-to-market, and allows for a single version of source code. For example, invoicing or ticketing applications would be able to print customer information in their native languages from a single database. This will allow for one version of the product can be used worldwide, thus eliminating the need for separate releases for regional markets.
Additionally, internationalizing will create a software product whose text can be exchanged into any language worldwide. This eliminates problems such as data corruption due to incompatible code pages or missing conversion tables, again saving time and money for the client.
As products get rolled out into countries with multilingual displays and processing, internationalized software products are able to cut corners and avoid problems that could tax non-internationalized software. Extra effort in the development stage translates to bigger savings later.