Monitoring early warning signs of undesirable financial trends is a vital necessity for business today. To make this easier for smaller business, FinEx Software and Edge-1 created a financial analysis tool, Financial RADAR.
Simplifying financial reporting and presenting the user with future scenario information, the program gives users continuous access to information, that allows the monitoring of the early-warning signals to potential problems within the business.
Financial RADAR is a joint venture development between FinEx Software, a financial software developer, and Edge-1, a Softline group company that focuses on global business software solutions.
"Not every person who operates a business can properly understand and analyse all the financial statements and key indicators of a company," says Edwin Dreyer, Director of Finex Software. "With Financial RADAR, business managers have an analysis tool that makes sense of everyday financial figures, and also assists with forecasting future business performance."
The program will be of special interest to accounting and auditing firms that are providing outsourced bookkeeping services and year-end audits for small and medium-sized (SME) companies. Most SMEs can`t afford the luxury of an experienced financial manager with all the necessary skills. In addition, the cost of producing regular analyses of the business performance is high.
Integrating seamlessly with Pastel Accounting (SOHO Two, V5, V5.2 and the newly launched V6), users utilise the existing financial data that has already been processed into their accounting software. The program automatically does the analysis and scenario forecasting, giving the user various options to adjust the business operations to meet the set budget and profit targets.
Financial RADAR provides the following functionality:
* Ratio Analysis: 25 ratios, grouped as; Liquidity Ratios, Asset Management Ratios, Debt Management Ratios, Profitability and Market Value Ratios;
* Financial Statements Analysis: Historical, Horizontal, Vertical and Actual vs Budget Analysis of the Income Statements and Balance Sheets;
* Sales (Cash and Credit Sales) and Purchase Analysis; and
* Forecasting and What-if Scenarios: Failure prediction models and the ability to run What-if Scenarios.
"Financial RADAR furthermore has other useful features including a Report Wizard, an Economic Data Interface and many more," adds Vasili Ratush, author of the program and head of the development team. "All reports can be printed directly from the program or from MS Word. This advanced reporting tool improves the manageability of one`s business by providing valuable information relating to the financial trends of the business."
Concludes Mike Bryer, Managing Director of Edge-1: "We are excited to be introducing the second add-on product for Pastel V6 within two weeks of the V6 launch. In addition, the application will provide the early warning signals required by our customers to avoid failure of their businesses."
Share
Editorial contacts