Financial technology is one of the most efficient solutions made available by the digital world to companies. Through it, managers and entrepreneurs can have the enterprise’s financial situation literally in their hands, at any time.
Considering the speed in which businesses are carried out today, taking advantage of time with the least possible error is essential for companies. Thus, those who intend to remain competitive in the market need to take advantage of the benefits of technology.
Due to the relevance of this subject, we’ve prepared this article and listed the four most important advantages that financial technology offers for your business. Let’s do this!
Real-time data tracking is undoubtedly an essential benefit of financial technology. With it, managers are able to have the situation of the company’s finances in the palm of their hands. Know that this can prevent the loss of great businesses.
Imagine a scenario in which the opportunity for an investment or partnership in a business comes up, and it must be decided immediately. Due to a lack of quick knowledge of the financial radar, managers may decline the negotiation and hand it over to the competition.
In addition, financial data can be accessed from anywhere. There is no need for the manager to be present at the company’s premises or at a desktop computer.
Concentrating information in one place is not just an administrator’s dream – it is actually possible. Financial management software allows managers and auditors to access several data in a fully centralized way.
With these digital technological tools, audits can be performed faster and with data security, as there is no risk of duplicated information and no need to access various platforms, spreadsheets and company employees.
The best financial management solutions available on the market allow for the integration of the various sectors of the company. That way, it is possible to have a more comprehensive knowledge about the organization’s costs.
This globalized view offered by software helps leaders, allowing them to make more assertive decisions. This is because they will be carried out based on a variety of data, thus, their analyses become strategic.
Financial management software allows managers to find out where their companies’ biggest expenses are. This enables them to look for alternatives that can reduce their costs, changing executive processes or searching for new inputs.
We know that payrolls increase company costs, making entrepreneurs aim at leaner companies. Due to its processing speed, the software can reduce the costs of hiring employees.
With all that said, we believe that there is no doubt that financial technology is beneficial to any company. Implementing this solution will bring greater efficiency not only to the finance team, but to the entire enterprise.
In order to obtain all the advantages of financial technology, we recommend hiring companies that are recognized in the market. MyABCM is a global company with over 25 years of experience that operates in over 50 countries.
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Nowadays, the term “FinTech’s” is widely used. It refers to startups and companies that innovate and redesign the field of financial services with projects and plans entirely based on technology. The name is formed by joining the word “financial” with “technology”. In several countries, such as the United States, it is possible to find several enterprises related to this subject.
Through them, we are able to see major changes and innovations in the areas of processing and cash flow. Therefore, it is essential to learn about the revolutionary examples in order to extract ideas and know how they managed to stay in the market and achieve success.
We’ve prepared this article with 4 examples of international FinTech’s. Check it out!
According to a study made by KPMG and H2 Ventures, Ant Financial is 1st place in a list containing 100 prominent FinTech’s in the world. This Chinese startup is valued at $150 billion, which is why it is considered the most valuable in the world. It is worth noting that it is controlled by Alibaba, and it focuses on offering payment methods.
The practice, through the technological resources used, allows the customer to make a payment simply by smiling, by facial recognition.
Square was structured by Jack Dorsey, creator of the social network Twitter. This North American fintech is responsible for meeting demands regarding payment methods. Currently, the startup is valued at $ 5.1 billion and still has great growth and profitability potential in the short term.
Aiming to innovate the sector of brokerage and mortgage services, the founders of Trussle developed a solid and very promising project. We know that negotiating mortgages with multiple lenders can be quite a daunting task.
In this regard, Trussle fulfills the role of finding the best option, in addition to monitoring the market situation at all times and signaling when an enterprise with a better strategy emerges.
Finally, we have “the new money formula”. The startup Circle is based on a payment platform where users can send and receive payments through apps. Some time ago, it raised $100 million, which made the fintech’s valuation soar by nearly $3 billion.
One of Circle’s intentions is to develop solutions to solve the problems of the crypto world, mainly in terms of instability. In addition, it is interested in making payments easier and changing the market’s relationship with these ways of managing money.
So, these were the main examples of successful international FinTech’s. You can see that these startups have the potential to completely revolutionize activities and services related to the financial sector.
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The ability to process and analyze data is one of the cornerstones for the growth of companies. But success doesn’t just depend on the availability of information. Strategy is also a deciding factor. And this is the advantage that we added with our new partnership.
This month, we consolidated a valuable alliance with SAP. The world leading company in ERPs and business management now offers to its clients a flexible and efficient solution for cost and profitability management: the MyABCM Connector for SAP HANA.
It promotes strategic decision-making by combining its analytical power with advanced tools for managing and controlling costs and profitability.
Learn more about the partnership between MyABCM and SAP below!
The new MyABCM Connector for SAP HANA component is the key to the integration between the systems. It will allow SAP clients to access the features developed by our team to master their business finances.
The module will create an advanced planning and control environment, where users will be able to visualize and better understand their different cost sources. And most importantly, it will be possible to visualize, in real time, how they interact with the other areas of the business.
This means that the resources of both software can be used together, by consolidating and importing the information obtained between the platforms. Thus, with the MyABCM component, the SAP client will be able to develop a deeper understanding of how the costs impact the company’s management and how the different spheres of the organization relate and contribute to its profitability.
Learn about the technical features of the activation of the component:
Our priority has always been to offer advanced solutions in cost and profitability management. And with this partnership, SAP clients will now be able to control the business’s resources in a module that is fully integrated with their ERP, combining several features.
The management solution seamlessly integrates with SAP HANA, allowing you to apply specific allocation criteria and business rules. As a result, the users benefit from dynamic management analyses, which are obtained from a system developed with the particularities of their business in mind.
Learn about the advantages of integration:
More details about the partnership here.
More information about MyABCM on the SAP website here
In a reality of great competitiveness and exacerbated individualism, the humanization of care is increasingly valued, becoming a competitive advantage. With it, patients recover more quickly, and it also directly impacts the motivation of employees.
For you to understand this procedure and how to put it into practice, we created this post with the essential information. Check it out!
As the term itself suggests, the humanization of care is about valuing the person fully. Thus, all approaches should be made in a loving and respectful way.
To put it into practice, it is necessary to listen and care for all patients, establishing an honest and ethical relationship.
Humanized care takes a broad and comprehensive approach, exploring the emotional aspects instead of focusing only on the consequence of a certain disease.
As such, the humanization of care begins at the reception, and ranges from infirmary beds to security; in other words, it should be present in all services existing in a hospital or clinic.
Hospitals and clinics that adopt humanized care are able to obtain greater credibility and even better recovery rates.
After all, when patients feel welcomed, the chances of recovery increase considerably. But there are many other benefits, such as:
Upon realizing that they are receiving quality care and being valued as a human being, the patient will have confidence in the hospital or clinic.
For this to happen, all employees must be properly trained, including service providers.
That way, right at the reception, special care will be taken when collecting data; an eye-to-eye contact instead of just filling out bureaucratic forms.
You know that nurse who talks and even plays with patients? This type of professional is extremely important to help in recovery, as they bring joy and optimism during a delicate moment in people’s lives.
In addition, by putting humanized care into practice, patients will realize how important they are and will be more motivated to recover.
After all, when the team respects the individualities of each patient and carries out a treatment with affection, observing the family condition, their psychological, social and cultural history, their fears, anxieties and limitations, there is a greater confidence that reflects on the optimism about the medical procedures.
By listening carefully to what patients have to say, the affective memory is inevitably put into practice.
People can remember positive relationships, such as the affection of a mother, the hug from a friend, the love of a brother; in short, these are aspects that contribute to the emotional side, giving more strength in coping with the disease.
Given the benefits presented above, the humanization of hospital care is a global trend that is already part of the protocols of numerous countries.
This reality is also present in several other areas of the economy, even with the ever-increasing advancement of artificial intelligence.
That is because no robot works without a human presence. As we live in society, the humanization of care is a premise that should always be valued, bringing more harmony and quality of life.
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Managers of large companies are always looking for smart solutions to optimize the corporation’s results, tasks and sectors. In an effort to have more reliability and automate processes, we have two options: CRM and ERP.
These systems are capable of ensuring a better development of many routine activities. However, companies have distinct needs and conditions that should be considered before making any kind of investment.
Although both offer benefits for your company, each of them has some important and unique characteristics. To learn more about the advantages and how to choose between CRM and ERP, keep reading this article.
What is ERP and what are its advantages?
ERP (Enterprise Resource Planning) is a type of management software aimed at data integration, which allows daily processes, such as billing, cash flow, purchase control, inventory, accounts, expenses and tax collection, to be carried out more efficiently.
That way, it is possible to control the information flow in a single system, allowing full management, administration and solid basis for decision-making in all sectors of the company. In addition, its main advantages are:
Issues that an ERP system can solve
The managers of an organization face many challenges, such as controlling the responsibilities of each employee, meeting deadlines and ensuring the quality of service. In this case, many problems are generated by the inaccuracy of information. An ERP system can solve many of them, such as:
What is CRM?
CRM (Customer Relationship Management) is a solution aimed at internal management, more precisely at strategies for sales, marketing and even customer relationship.
To that end, it works in the identification of the best strategies and in methods indicated to increase your sales, protects the company’s confidential information, and can also improve your services or products. What are the advantages of investing in this type of system? Check it out:
Issues that CRM software solves
In addition to the benefits of this tool, it helps to solve several problems, such as:
Thus, this technological solution helps to ensure strategic information so as to make the work of managers easier and avoid losses in the business.
After all, is it worth it?
Absolutely! When CRM software and ERP management systems are chosen according to the business’s needs, the company can stand out in relation to the competition and process efficiency.
In addition, this type of investment may increase the articulation capacity of your sales team, which makes the decision-making easier and allows carrying out improvements in cost reduction and marketing strategies to boost sales.
Why integrate CRM and ERP?
Integrating the finance department with the commercial sector ensures greater agility in negotiations and sales. From there, your company’s marketing team has more information from a financial point of view. Furthermore, these tools ensure efficient sales, making them faster and more dynamic.
Integrating these features also allows your team to have access to a variety of shared data. This also avoids duplicate information, reduces costs and rework, and ensures a better use of resources.
Another interesting factor is that merging CRM and ERP helps your business grow. When they don’t work together, they need to be kept up to date frequently, and any change to one of the systems creates the need to change the other. Therefore, by cross-referencing the information and with faster sales, it is possible to make more accurate decisions and strategies.
The integration of these tools also guarantees the information security in the company. That is because it is possible to unify the database and rely on CRM and ERP software that store all files in the cloud. That way, managers avoid data loss and document leakage, which are factors that harm the company and its customers.
How to do this integration efficiently?
At this point, it is essential to customize the merger between CRM and ERP. To do so, look for suppliers that customize the tool and provide systems for simple and complex implementations that handle large volumes of data.
Moreover, the company needs to invest time and money in this task. It is also important to plan these processes in order to perform all business activities as expected. To obtain more satisfactory results, a tip is to make this adaptation according to the business’s needs. That way, you can avoid problems with software and improve your team’s internal processes.
How to choose?
CRM and ERP are systems with different goals: ERP is aimed at financial control, while CRM is about consumer management. With that said, both software can be implemented in the corporation.
CRM is critical for companies in the sales industry, whether it’s products or services. As such, it is very useful at all stages of the enterprise, even in those in which the managers are already looking for improvements and growth. In turn, the ERP system is necessary for all businesses that seek efficiency in resource management.
Often, the absence of these two tools in an organization negatively impacts the business’s results. After all, the company will not have a resource that automates processes and improves earnings. As a result, it will not modernize its operations and will use outdated tools that hinder its development; thus, it runs the risk of being overtaken by competitors in the market.
Both CRM and ERP software should be seen as smart investments for your company. After all, for any type of business to stand out in the market and have a healthy growth, it is necessary to adopt strategies that improve its sales team and ensure complete control of the entire financial situation.
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Keeping a company running requires planning. Because of this, entrepreneurs dedicate a lot of time to develop studies that can help them with this mission. An example of this quest is to better understand the net working capital.
Not understanding its real importance can often lead the company to its closure. This is usually related to a lack of financial organization.
If you are not sure what this concept means, don’t worry. This article will explain what net working capital is, how to calculate it, how to prevent its deficit, and what factors affect this resource. Shall we?
What is the net working capital?
A company cannot wait for all its customers to pay their debts to keep operating, right? After all, it takes a few months to bring a return to investors after a business starts running. Even then, it has to bear the costs. During this period, what keeps the company running? The answer is: the working capital.
With this resource, it is possible for a trader to restock their store after selling almost everything, even if their customers have paid in installments, for instance.
Thus, the working capital is restricted to the amount needed to make the enterprise operate. In turn, the net working capital has an even more specific function.
It represents the assets your business has that can be turned into cash. Some examples include:
Therefore, it is a study that tends to reveal your company’s ability to continue operating, but also pay its debts.
How to calculate the net working capital?
The first step is to identify the current assets and liabilities. Current asset is an accounting term that shows all the goods a company has, in addition to all the capital it will receive in the short term (up to 12 months). This information is on the company’s balance sheet.
With it, we find the liquidity of the business. Note that each item in the current assets has its own liquidity.
Current liabilities are the part of the balance sheet that includes short-term debts (12 months). It usually refers to the payment of suppliers, taxes, financial charges, etc.
To know the amount of the current working capital, the following calculation must be made: Net Working Capital (NWC) = Current Assets (CA) – Current Liabilities (CL).
If the result of this calculation is negative, it could mean that the company will have to resort to third-party capital, such as a bank loan, in order to pay its debts.
Why is it important to know the net working capital?
The goal of an enterprise is to bring financial return to investors. That is why a company that cannot pay the bills needed for its operation will hardly be seen as a good investment.
In many cases, there is a demand for the product or service marketed, but because administrators don’t carefully study the company’s numbers, they make the wrong financial decisions.
A company needs the working capital to operate, and an entrepreneur has to know the net working capital amount in order to understand the debt capacity of a business, as this will determine the direction of investments, influence negotiations with suppliers, and reveal the liquidity of the company’s assets.
Failing to control the net working capital can pose several risks to the organization. Your cash can become negative, which compromises the proper operation of the business. Therefore, it is important to prevent the deficit of these current assets in order to ensure a positive balance. To do so, it is simple. Here are some tips:
So, if you don’t want to go through financial problems, try to ensure favorable conditions for your company to have enough money left, and thus, have net working capital. This is essential to meet customer needs and keep up with market growth.
Some situations affect the net working capital positively and negatively. Therefore, it is important that they are monitored and controlled in order to ensure the organization’s financial health. Check it out!
If the net working capital amount is positive, the business will have cash available to pay current liabilities in the short term. Some points that benefit this process include:
When the net working capital is negative, the organization will certainly not have enough funds to pay off its short-term financial expenses. Check out what negatively influences this resource:
Knowing these factors, pay attention to all the points mentioned that influence the net working capital. However, keep in mind that this current asset is not the amount of money needed for the company to operate, but the resource that verifies whether it is capable of financing itself in the short term.
Given this, it will be of little use for an enterprise to have good products, efficient marketing and an excellent team without working capital. Thus, without the health of this resource, all other efforts of the company will be jeopardized.
A tip to make the financial management easier and keep the net working capital stable is to rely on technology. Nowadays, there are several financial control software that assist in these processes, handle a large volume of data and offer the integration of the company’s sectors.
Now that you know what net working capital is, how important it is, how to prevent its deficit and what factors affect this resource, be sure to apply a strategic financial management and invest in technological tools. This will help increase your profitability, keep good process maintenance and control the company’s cash flow.
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The fate of a company depends on the choices of its managers. If they make bad choices, the enterprise goes under, but if good decisions are made, the organization grows while remaining competitive in the market and with good profit rates. This entire process involves risks and opportunities. Thus, the business decision-making needs to be supported by correct information for the best choice to be made.
Managers can base their decisions on personal interpretations – experience and intuition – or use software developed for that purpose. If you want to know how to make the best decisions for your business, keep reading the article!
Decision-making is related to the set of actions aimed at solving specific issues within the organization. It encompasses two or more possibilities that will have consequences, whether positive or negative. These choices affect not only the company, but also employees and customers.
To make good decisions, the manager needs experience and knowledge in the area. The union of these two skills develops the administrator’s critical thinking, thus, they are able to analyze risks and what are the best solutions for certain problems. There are three types of decision-making, as follows:
Do you know what Data-Driven Decision-Making (DDDM) is? It is the decision the manager makes based on actual data, not their intuition or personal interpretation. This is only possible due to the use of specific information processing software.
Firstly, solutions such as Enterprise Resource Planning (ERP) group important data from the organization. Having specific programs for financial, sales and customer relationship (CRM) management also helps to concentrate data that can be valuable for the production of insights later on.
Secondly, Business Intelligence (BI) software can collect and process large amounts of data with the purpose of supporting important decisions by the manager. They are able to provide accurate reports, graphical dashboards and KPI monitoring. According to a study by the MIT Center for Digital Business, companies that make data based-decisions have 4% higher productivity with a 6% increase in profits.
The use of software ensures a more professionalized management, effectively helping with the fulfillment of the company’s planning. The data processed by these programs provide a better assertiveness for business decision-making.
MyABCM is a multinational company that provides software for strategic cost, profitability and performance management. MyABCM Express was designed for simpler implementations and can be customized according to customer’s preferences, while MyABCM Corporate is a solution for more complex and advanced implementations, with the ability to process models with large amounts of data.
If you want to make the best decisions for your business, contact us! We have the best solutions for your company!
Business Intelligence in healthcare is no longer just a choice, but a requirement if the intention is to remain competitive in the market. To achieve this goal, it is necessary to make the right decisions in short periods of time. This is only possible due to the use of data analysis tools. Taking this into account, the applications of Business Intelligence in healthcare can bring numerous benefits to the business.
They allow carrying out analyses and taking action, as they cross-reference data from different sectors of a hospital institution, helping to identify failures, risks and opportunities. To find out what the advantages of using BI in healthcare are, check out the article!
Business Intelligence is a set of data processing procedures aimed at helping business managers to make the best decisions related to their enterprise. This processing is divided as follows: data collection, analysis and decision-making.
BI software is capable of performing many functions. It accesses and examines data groups, presenting results in analytical reports, graphical dashboards and maps. That way, managers are provided with detailed information on the progress of the business.
The choice of tools and solutions that integrate data from different sources allows for a broad view of the healthcare unit as a whole. BI lists a variety of information needed to help with the strategy and operation of the hospital. As a result, management becomes more competent.
How does this happen? Business intelligence software helps to assess the performance of all departments in the company, finding bottlenecks in different sectors. This process contributes to the optimization of daily tasks. With more activities optimized, the time to carry them out is reduced, thus increasing the productivity.
For example, in the field of diagnostics: business intelligence tools monitor the patient’s clinical evolution, helping in the choice of the best treatment options. The results also provide a historical basis for comparing the completion of similar cases. Some advantages of BI in healthcare are:
For the hospital institution to remain sustainable and competitive in the market, it is necessary to carry out cost and performance evaluations. To this end, Business Intelligence programs for healthcare are essential. The data processing carried out by them gives the manager the opportunity to make the best possible decisions for the business.
Given all of this, the use of Business Intelligence software in healthcare is increasingly frequent. Therefore, consider implementing one of them in your hospital unit. It is worth remembering that MyABCM has a set of cost, profitability and performance management software that can help your business grow.
If you are interested in using Business Intelligence in healthcare, contact us!
It is possible to see the great influence of technology in human relationships and activities over the years. And in the business field, this is no different.
With the innovation of the processes involved in the management and production of an enterprise, it is clear that corporations that do not keep up with this development end up missing out on great opportunities, which may even lead to the business’s stagnation.
Always aiming to be up to date with the market demand and with new tools that have shown advantages at the present time is what defines a successful company.
Within this topic, we can mention the mobile software as an example of successful innovation. It can be accessed on tablets and smartphones and allows managing costs in the company with greater mobility.
For you to know about the importance of this tool, we have prepared this post with its main benefits. Read on!
The first advantage provided by the use of mobile software is high productivity. This is possible thanks to the ability of these resources to offer greater automation of activities and tasks, in addition to a more effective organization of processes. Thus, the business’s productivity is ensured as the demand of the activities is optimized.
Mobile software also improves communication. With this technology, it is possible to send instant notifications in a shorter time to all technicians or production teams in the company.
In practice, having a mobile application prevents professionals from having to move around to pass on information or make any changes to certain processes. Furthermore, this advantage also ensures that the company reduces interpretation errors, as all data is stored in the software.
By using mobile software, it is also possible to direct, in a simple and practical way, the role of each professional in the company and the tasks and goals to be fulfilled.
All production and performance data is stored in the system, which encourages employees to be more committed to their work. Thus, this type of tool improves engagement and promotes the effective participation of the entire team.
Finally, a great advantage achieved by the system is the greater reliability of data and information. That is because, by recording the condition of the work carried out – as well as variables, production numbers and other content related to the company –, there is greater security in data processing.
This helps to eliminate various problems, such as misinformation and poor accuracy when reporting on the progress of the institution’s internal processes.
These are the main advantages guaranteed by mobile software. You can see how this tool can provide countless benefits for your company, can’t you?
That is why it is very important to look for partners that have quality solutions that are compatible with your needs. This is the case of My ABCM, which offers MyABCM Corporate, a software capable of carrying out important functions in your business and that provides several benefits.
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Healthcare data security is a very important issue and should be prioritized by managers. After all, this sector, like many others, collects and stores a large amount of information from patients and the institution itself.
Furthermore, this protection is a right of all people, especially in this area where data are more sensitive. When there is no investment in it, the company is vulnerable to hacker attacks, information leaks, among other risks.
Therefore, we’ve listed some tips to help you improve the healthcare data security. Read on!
Encryption is a mechanism used to mask information, making them unreadable. This practice is essential for protecting digital documents, electronic medical records, messages, confidential files, patients’ tests, etc.
With an encryption system, it is possible to convert data into indecipherable codes, which can only be viewed by authorized persons. That way, you ensure the security of healthcare data and avoid risks for your institution.
Another way to protect information is to limit users’ access to documents and files in the system. By doing so, it is possible to allow only the right professionals in each sector to see the data. For example, a physician does not need access to financial data, and the person responsible for controlling finances does not need to see patients’ tests.
Including tools such as antivirus and firewall are important methods that help ensure the healthcare data security. Therefore, invest in resources that block threats to your internet network and computers, and always keep programs and systems up to date.
Also, block malicious links and other access that can damage the information that are stored on your computer.
Using software that collect and store a large amount of information in the cloud is critical to protect the healthcare data. After all, this resource uses an online server, on which professionals can access data whenever and wherever they want.
This feature, in addition to being more practical, is completely secure. This is because if something happens to your computer, your data will not be affected, as they do not depend on this instrument to be accessed.
Furthermore, technology is a tool that helps healthcare institutions to adapt to the General Data Protection Law (LGPD, in the Portuguese acronym). Its rules set requirements that provide security to doctors and patients. Thus, having data management software increases the care of your company’s files, speeds up processes, improves the financial management and reduces costs.
Now that you know some tips for healthcare data security, put them into practice to improve and protect your organization. That way, it is possible to offer a safe service to patients, ensuring their satisfaction and reducing losses in case of document theft.
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