Various SMEs outsource financial management to trust agencies and rely on professional support in the area of financial corporate management. But let's be honest, how many customers enjoy this service from your trustees?
Trustees should address a variety of questions about the financial management of customer accounts in order to be able to offer optimal advice. Here are a few examples:
1. What is the company's income and expenditure?
2. How do the company's financial indicators develop over time?
3. Which cost centers or departments contribute to the success or failure of the company?
4. What is the profit or loss of the company?
5. How high are the company's tax liabilities?
6. What does the company's liquidity look like? Can the company meet its short-term obligations?
7. What is the company's financial requirement for planned investments or expansions?
8. How does the company's current financial position affect the profitability and value of the company?
9. How can cost savings and efficiency improvements be achieved?
It should be noted that systems are used that automate data evaluation. This makes it possible to invest valuable time in financial analysis. Specifically, this means:
1. Time savings: Automated systems can process large amounts of financial data quickly and efficiently, which reduces the time required for manual data evaluation. Trustees can thus concentrate on strategic or advisory tasks instead of wasting time with repetitive and time-consuming manual processes.
2. Accuracy: Automated systems minimize the risk of human errors when evaluating data. This helps to provide accurate and reliable financial information, which in turn improves the quality of financial decision-making.
3. Real-time information: Through automated systems, trustees can analyze financial data in real time and thus monitor them. This enables a proactive response to financial bottlenecks or opportunities and supports effective financial corporate governance for its customers.
4. Analytical insights: Automated systems provide advanced analytics and reporting tools that enable trustees to gain detailed insights into the company's financial performance. This makes it easier to identify trends, strengths, weaknesses, and potential areas of improvement.
5. Compliance and transparency: Through automated systems, trustees can ensure compliance regulations and improve the transparency of financial reporting. This is particularly important to identify potential issues before they lead to serious legal or financial consequences. In accordance with the Code of Obligations, the **Board of Directors** or **Executive Board** has **non-transferable and indiscriminate duties**. This includes the organization of accounting, financial control and financial planning, insofar as this is necessary for the management of the company. Since the introduction of the new stock corporation law, Art. 725 et seq. of the Code of Obligations has regulated the following three situations fairly precisely:
— imminent insolvency
— Capital loss
— Overindebtedness
Overall, automated systems help trustees conduct more efficient and accurate financial business management, make well-founded decisions and increase the added value of their services for their customers.
The Money Key team has been working on exactly these topics for several years now.
We would be happy to present our solution to you and give you the opportunity to use Money Key in your escrow office for yourself as well as for your end customers.
