Finances management is an integral part of a successful business. When a company has a lacking financial management, it significantly increases the risk of failure.
A Business Financial Management system is a software used by business banking clients to create, store, and report various types of financial transactions with a goal of increasing profits and ensuring sustainability.
A BFM system allows identifying new business models and growth opportunities due to forecasts and results evaluation. It helps to achieve better business results thanks to the opportunity to flexibly react to the real-time data.
Why Business Financial Management?
BFM allows managing investments effectively, so business the users don’t borrow too much for assets that don’t generate income.
Operating cash flow
The system helps to effectively manage cash flow. Thus, the company always has enough money on hand to pay outstanding invoices. BFM provides forecasts based on historical and actual data tracking and analyzing.
One of the key objectives of financial management is to keep costs to a minimum. A BFM system allows monitoring costs in order to manage sales and not pay increasing expenses.
Tax management is an important part of every business. A BFM provides data on available cash, so the estimated taxes can be paid according to schedule. Moreover, the system helps timing purchases of assets in order to maximize benefits.
Every company has its own needs and requirements for a financial management system. StandFore BFM is a state-of-the-art solution enabling small and medium-sized enterprise banking customers to manage their business financials.
The system includes the following main features:
Payables and receivables are a critical part of the financial picture. The system helps to understand and improve working capital by simplifying its management.
The BFM provides various filters and search functions so all transactions data become well-structured and trackable.
Cash Flow Analysis
The system provides analyzing cash flow by monitoring the relevant financial data.
Income & Expenses
The solution has an intuitive user-interface which allows visualizing revenue source and costs categories within a specified time frame.
The BFM solution helps to keep expenses on track. A spending plan allows users to easily forecasting which months their finances may be tight. Such realistic assumption on income and expenses enables to manage long-term financial goals.
StandFore BFM represents data in form of interactive graphics showing individual spending patterns within a selected time period.
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