Financial Management

“We are never dealing with facts, but instead with opinions about facts.“ Peter Drucker

The financial departments in companies are responsible for the process planning, configuration and guidance of the use of financial measures. Accordingly, planning must consider both short term periods and operative goals as well as strategic and future-oriented analyses.

The tasks of a financial department include:

• optimal configuration of the financial streams within the company,
• preparation and safeguarding of all financial measures,
• preparing of analyses for future investments ,
• maintaining liquidity,
• managing capital assets and
• conducting monetary transactions.

The first priority for a business is the long-term security and further development of the business, which can be assured by means of a successful financial development. 
The developments and changes on the financial markets as well as stricter regulations have made these complex tasks increasingly difficult. The global economic crisis has made it harder to finance businesses. Banks are demanding more key data and transparency from their clients when it comes to internal risks. “Financial Covenants obligate the recipients of credits to keep specific key data on, for example, capital resources, revenue or liquidity. This way, banks can establish an early warning system for their creditors' financial shortages. They can conduct quarterly tests as to whether businesses are meeting all requirements.” (Manager Magazin, 18.06.2009) The requirements bring with them an additional burden of reporting, as there are very few businesses who have in place pre-defined and regular standardised processes for the production of risk analyses. One result of the Financial Covenant is to artificially restrict the financial manoeuvrability of a business, because investments become impossible when they impinge on the required criteria.
The decisions management must make are based on information which, depending on its quality, can lead to incorrect decisions. The quality of the decision is therefore to a large extent dependent on the quality and interpretation of the information used in informing the decision.

With Financial Management, Aurich und Partner offers you a comprehensive solution which offers particularly attractive benefits for international companies with locations in different currency regions, as well as for those with diverse data from ERP systems and other transaction, accounting and database systems. A specific bonus is the ability to analyse your company's key data in real time. The standard and ad hoc reports establish the connection between strategic dimensions and operative key data. Business decisions are made on the basis of consolidated information which can be swiftly acquired. At the same time, Financial Management allows you the necessary transparency and and accountability of your decisions by archiving data. This head start grants you a competitive edge in the market, and in addition, you will know for sure that your reports accurately depict the actual business processes, allowing you to guide your business and pursue your strategic goals with increased speed and precision. As a parallel benefit, your costs and income structure will be transparent and documented. Financial Management enables predictions of scenarios involving both current and historic data.

Financial Management at a glance:

• consolidated reports involving various currency regions and diverse data formats,
• balances, earning reports, cash flow statements,
• fast and largely automated creation of reports in a dynamic environment,
• top-down/bottom-up planning of turnover and profit based on existing processes, assisted by workflows,
• scenario analyses with current or historical data,
• forecasts,
• consideration of internal and external risks,
• documentation and archiving of dataflow,
• compliance with regulatory demands and Financial Covenants,
• modern IT solution with features such as web-based access,
• individual access profiles for different user groups,
• continuous support for your individual planning and directing processes.