Our balance sheet analysis tool FINOYO is our stand-alone product for credit assessment and liquidity preview and can be deployed straight away.
SCHUMANN supports digital platform for export financing from tr8fin with balance sheet analysis
The company tr8fin GmbH is using SCHUMANN's balance sheet analysis know-how in the credit checking and application procedure on its digital platform for export financing. In an automated process, balance sheets from different countries are compiled and made comparable using the balance sheet analysis tool "Financial Analysis" from SCHUMANN.
The organization of export financing is a complex process with many participants regardless of whether the risk is to be minimized using export credit insurance or one's own liquidity is to be secured through the sale of receivables. The tr8fin GmbH portal brings together all the decision-makers around a digital table – exporters, importers and banks as well as the German federal export credit guarantee (so-called "Hermes Cover"). With its digital platform tr8fin makes it possible even for smaller companies to export their products and services to international markets from an order volume of 50,000 EUR.
Analysing and comparing balance sheets
In order to make well-founded credit decisions, the balance sheet analysis from SCHUMANN is integrated into the completely digitalized application process. Balance sheets are often the only analysis instrument that provides a comprehensive picture of the economic development of companies because the annual report data shows the changes over several years. "The importers, so the customers of our customers, are located in all countries of the world. This means that various languages and different accounting standards are in use. So it was especially important for us to get the possibility to have balance sheets from different countries compiled using the respective local GAAP and then made comparable", explained Joachim Dörr, co-founder of tr8fin GmbH. "Financial Analysis" from SCHUMANN makes it possible to analyse balance sheets in a way which is automated and above all unified. The direct and standardized aggregation of the balance sheet information in the form of key figures provides detailed information about the financial, income and asset situation of companies. This information is completely integrated into the application processes of tr8fin GmbH and can be passed on digitally to further system partners such as financial service providers and Euler Hermes in the necessary respective format.
Continuous processes through automation
"Direct and continuous processes, also in the analysis of balance sheets, were a further important precondition for our platform. Digital and automated procedures form the basis for rapid processing and simple handling by our customers", continued Dörr. On tr8fin's export financing platform the balance sheets of the customers are requested digitally and then transferred automatically to the integrated balance sheet analysis tool from SCHUMANN. Here, they are analysed, structured and then automatically passed on to Euler Hermes. "Thanks to SCHUMANN we have been able to digitalize this process 100% – from the collection of the data and its processing right up to the transfer to the credit insurance company", Dörr is pleased to say.
With "Financial Analysis", SCHUMANN offers a balance sheet analysis tool with which balance sheets can be compiled using customizable compilation schemes or in which the compilation process can be completely automated. For this purpose, the XBRL format or interfaces to BvD, S&P and the German Federal Gazette can be utilized. In particular, the standardization and the audit security provide clear advantages.
FINOYO for automated financial statement analysis
Financial statement analysis in CAM
Users of our CAM software solution can take advantage of the fully integrated balance sheet analysis module. This allows you to take into account information from various sources and create an overall assessment of a business partner.