Månedsarkiv: juli 2014

dodd frank

Benefitting from IBOR

If your business is engaged in managing the investments of many other people or companies, you certainly would need an IBOR or investment book of record.  This is the most effective way of organizing your tasks and making sure that you do not overlook any of the many the investments you are dealing with. The IBOR is not really a book in the traditional sense of the word though.  In the age of computers and the internet, such a book is not only outdated.  It is also less advantageous. Instead, it should be in the form of a software program that could be installed into your computer.

When you have an IBOR, you could be sure that you make the right decisions most of the time.  You just bear in mind that if you want to make sound decisions, it should be based on the completeness of the information that you have in hand.  The said information could be retrieved from the database of the IBOR.  This means that you could actually have so much information in your hand but since these are organized in the form of software, you could easily retrieve only those which you need for a particular purpose.  The convenient way that it is done could certainly make it even more possible for you to deem wisely on the different options.

Another thing that the IBOR could do for you is to guarantee compliance.  In trading and even in post-trading transactions, there are rules that you should follow.  Actually, these rules may be too many to remember.  Because of this, it may not be wise to rely solely on your memory.  The IBOR should be able to record all these rules and keep it in its database too.  When conducting trade using the software, you could easily be reminded or warned once there are violations of the rules committed.  This would definitely be of great help to you as you try to establish trustworthiness.

When your business grows, so many challenges and concerns would come your way.  Some of these may be very difficult to deal with.  Despite these, you should always be very careful when it comes to effective cash management.  If you do not manage your cash well, you would just lose in the end.  Fortunately, cash management could also be done effectively with the help of IBOR.  The software could be used to keep track of your cash standing and could be your tool in determining the overall situation of your company.  This is another very important and much appreciated feature of the IBOR.

With the advantages offered by the IBOR, it is not surprising that many traders and businessmen are buying this online and installing this in their computers.  You should also do the same if you want to enjoy the benefits.  The software may not be cheap though but this should not tell you to give up on the idea.  If you invest in IBOR, you could be sure that you would get higher profits in the future.

Financial management systems

The Benefits of Financial Management Systems

Financial management systems cater the need to centralize streams of data about a company’s assets and accountabilities and to provide accurate and reliable reporting for future use. There are many benefits in utilizing the best financial management systems and it outweighs the price in getting the services.

  1. Reduces Internal Control Risks.  Man-made assessments are always prone to error. This means that there are possible instances where inaccurate calculations and predictions are being served as a backbone in formulating an internal control system. A bad internal control system affects work output as well as the sustainability of the business. By using financial management systems, you can be sure that calculations are correct. The software can also help in designing the internal control system itself.
  2. Reduces Operational Risks. Inaccurate accounting of financial data can lead to losses and will lead the business to its demise. This can be prevented by using financial management systems. A company should be able to control the flow of assets and liabilities to know if it is capable of starting new projects or if it needs to cease the operation of other projects that generate less profit. This means that errors in the operational level are critical and could lead to mismanagement and ultimately, huge losses.
  3. Scalability. Financial management systems scale with the size of the business. It does not discriminate and provides the same efficiency for small and big companies. There are some systems that cost more if your business is bigger but the services are still the same. There are also some whose prices are fixed and the size of your business won’t matter.
  4. Reliable Reporting. This is one of the most important features of financial management systems. Every successful business relies heavily on reports and assessments so make sure that the reporting feature of the system that you chose is excellent. Since everything is automated, the calculations are accurate which in turn decreases the chances of fraudulent data. It is also advisable to choose a system that is user friendly so that you won’t have to spend unnecessary time learning its features.
  5. Fast and Easy. Automated systems always beat manual acquisition and calculation of data in many aspects. Financial management systems are easy to use and speed up the tedious process of manual accounting and reporting. You will only have to input the needed data and the system will do the calculations in seconds or a few minutes. It also lessens the burden of your workers.