Financial Services Accounting
Accounting Software for Financial Services
Financial institutions all seem to share one common denominator, the requirement for inter-company processing. Our Business Solutions have Inter-company modules that can save organizations thousands of hours in re-keying information by simply setting up the “due to” and “due from” transaction information. Inter-company processing can be used in a multi-currency, multi-location environment, and will eliminate as much as 75% of the corresponding journal entries, usually necessary to offset the proper accounts.
In general, today’s market is far more competitive as private equity firms, banks and brokerages have all gotten into the game, while insurance companies are offering a greater range of financial services products. Regulations are growing more complex and varied while technology is enabling businesses, producers and consumers to interact on-line with both insurance companies and financial institutions.
There is growing pressure to lower operating costs and more effectively define and realize the benefits of strategic information technology investments. MIG's ERP Software Solutions will provide a complex management and analytical framework ensuring you take full advantage of these investments.
With the market demanding more from financial institutions, MIG's Management Solutions can help you provide the information and keep track of important data. We understand that there are many issues that your system may not help you achieve such as:
Automate data entry of investment alternatives and facilitate the process of reviewing the information. Up to date data is extremely important to base your decisions on accounts and working with customers. This will allow you to keep track of which options are currently available.
Maintain up to date records of reporting requirements and record keeping. Knowing which requirements your employees need to adhere to will reduce risk on your business being checked on.
Manage and analyze your cash flows within one system. Your employees want to analyze information as quickly as possible to make sure they can help customers with any financial questions. In addition, your business should be able to analyze your cash flows in one place simplifying the process saving you time.
Keep track of the various financial services offered and which are most valued by customers. Analyze and predict what your customers will want. By doing research before hand, your employees will be prepared to answer any questions and provide the services that your customers want and need.