With over thirty years of accounting experience, Seco & Partner's Consulting, an accounting office specialised in supporting companies and managers, began in 2016 to digitalise all its processes. Seco & Partner's goal was to better help their customers anticipate the future, to enable this, performance monitoring became a key element of their optimal consulting for each company they worked with.
Prior to proceeding to a digital shift for his accounting firm, it was imperative for Luc Janssen, CEO of Seco & Partner's, to retain the financial planning, budget and treasury tool used to date. However despite fifteen years of use, the structure of this tool proved to be "to fixed and standardised" to specialised in financial analysis and business valuation.
Luc Janssen remembers the "difficulties to adapt to the specifics of each company'. Luc explained "our tool at the time did not propose any analytical basis on which we were able to work". Over time our customers encountered situations where by a "more flexible and efficient" solution was required. Being able to provide an alternate solution had become imperative to the consulting company.
"Excel spreadsheets have never been considered a viable solution for decision analysis", explains the veteran in his field. Among the major drawbacks cited by Luc Janssen, included "the need to recreate a spreadsheet structure per client, the multiplication of encodings and the slow update of periodic information, the unreliability of copied data, the difficulty to share the essential information "between the company director and his team and finally," the general unsuitability of this solution ", certainly it was free but was also extremely manual.
One of the major challenges facing the Seco & Partner's was the "lack of interest" by company executives to analyse their financial data and there lack of knowledge in the analysis of a balance sheet &/or an income statement. To overcome this, Luc Janssen and his collaborators get involved to "explain how companies could decipher the management data related to their activities". Luc Janssen explains how through the use of EMAsphere it was interesting to be able to complete the offer of consulting and accounting services: "Through this reporting platform, many are leaders become autonomous in reading, learning and interpreting their accounting data. It is an educational process that is now part of our company mission ".
From the first use of EMAsphere, Luc Janssen immediately recognised the strength of the tool and the interest it represents for his firm in terms of services and advice dedicated to their clients and business leaders. The CEO of Seco & Partner's was seduced by the "visual approach of the platform", its "automation of the collection of financial data from the client accounting system". He was also impressed by the "pre-configuration of the dashboard" and by the level of customisation proposed. Through EMAsphere, Luc Janssen is delighted to be able to get, "the professional analyses of a situation at a glance and immediately obtain the points that require in-depth attention".
"EMAsphere is a solution that at first approach may appear as a simple tool however it is extremely powerful at the level of the analyses that it is impossible to realize", summarizes the accountant. Based on his long experience, Luc Janssen notes "there are three strengths to this solution", that are beneficial in every way to his business and the activity of its leading clients: "First, the cash position is visually accurate and can be a blow to check the state of the cash flow. The state of cash is calculated in realtime in EMAsphere, which is very rarely the case in the accounting system and even less in the case on bank accounts that do not reflect the reality, "insists Luc Janssen.
"Secondly," he continues, "the management and analysis of consolidated situations for groups that have subsidiaries, the management of intercos is easy and the analysis by subsidiary and for the group is easy and comfortable." Finally, "Thirdly, the analytical aspect is part of the EMAsphere DNA", approves the CEO of Seco & Partner's, being of the opinion that the calculation of the profitability of each activity is clearly "more tedious in the accounting system and certainly less performance. "
The analytical benefits listed above illustrate the reinforcement provided to the role of advice and support dear to the accountant. With EMAsphere, the digit professional can easily offer new services and more in tune with the management and analysis needs of companies. This solution also presents a rare opportunity to raise and perfect the level of support services provided. "The firm that offers EMAsphere clearly opts for a positioning with a very strong added value", translates Luc Janssen.
In other words, easily obtaining accurate and automatically updated data provides time and resources for regular analysis to improve business decision-making. "Executives who use EMAsphere quickly perceive the value of conducting a monthly or quarterly analysis to track key performance indicators relevant to sound decision-making rather than instinctual decision-making," Luc agrees.