Financial security is an important consideration when performing due diligence on outsource relationships. It is vital that your chosen outsource party remains financially secure to handle your Services and/or delegated client monies over the time period you trade with them.
Dellegance has a financial wizard that allows data gleaned from financial statements to be recorded in a formal way allowing for standard ratios to be calculated on financial strength.
This is useful as it allows bench-marking over time by sector and countries to be performed to ensure outliers are discovered and monitored before a relationship deteriorates to the detriment of your business.
Within Parties, there are two financial review models that can be set. One using standard ratio’s to assess financial stability, the other suited to intermediaries who hold monies in trust on others behalf.
Although the wizard makes it simple to record financial data, experience and knowledge of accounting priciples is required to use the analysis tools. The help files contain full detail of how the ratios are calculated and suggestions on how they could be used.