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Management control, the key to business success
COURSE BONUSABLE BY THE FUNDAE

This introductory course will help financial professionals to take a first step towards the implementation of a Management Planning and Control structure in their company based on financial accounting and business information. From the identification of essential indicators to monitor the business, to the implementation of management accounting that allows obtaining a simple and effective scorecard.

Course duration
5-hour course from Monday to Thursday from 2:45 p.m. to 4:00 p.m. with 40% theory and 60% practical.
Dynamic learning
Students will be able to have the documentation and recording of the course as well as interact with the teacher
Program
1. How to implement a control structure in an SME

• Main challenges in SMEs to implement a control structure.
• How to orient the accounting information towards a management control tool.
• Differentiate the strategic plan from the operational plan.
• Know how to monitor the business with a long-term perspective.

2. Transform financial accounting into management accounting

• Differences between financial accounting and management accounting.
• Management control in times of crisis.
• Management accounting as an essential tool for control.
• How to apply management accounting to evaluate departments, products, profitability.
• The budgeting process of an SME.

3. The balanced scorecard

• The usefulness of having a simple and effective scorecard.
• How to build a scorecard: selection of financial and non-financial indicators.
• Examples applied to commercial and industrial SMEs.

The Benefits of Fintech technology for your company

MORE AND MORE COMPANIES OFFER INNOVATIVE AND ATTRACTIVE SERVICES BASED ON NEW TECHNOLOGIES FOR THE FINANCIAL SECTOR, THE SO-CALLED FINTECH . THIS GROWTH IS DUE TO THE BENEFITS IT ENTAILS FOR COMPANIES THAT DECIDE TO HIRE THESE SERVICES. ITS USE HAS MANY ADVANTAGES OVER TRADITIONAL FINANCIAL SERVICES, REGARDLESS OF THE TYPE OF COMPANY THAT USES THEM.

THE BENEFITS OF “FINTECH” TECHNOLOGY FOR YOUR COMPANY

1.  What is Fintech

The  term Fintech  is a neologism that comes from the contraction of the English words  finance  and  technology . Initially, it refers to technology startups that take advantage of the most modern technologies to create innovative digital financial services. By extension, the term Fintech is also applied to describe these financial services.

The  Fintech  is a revolution of the customer experience, in some cases creating entirely new services and other improving or disrupcionando existing ones. Fintech services are aimed at end customers, whether they are individuals, professionals or companies, without intermediaries.

2. Advantages of Fintech

Depending on the type of financial technological product that is used in a company, the benefits can be one or the other. But, in general, we can define several advantages that are often repeated in all fields related to fintech:

  • Savings:  faster and more automated procedures improve business efficiency. An efficiency that translates, specifically in the case of finance, into financial savings. But we must also not lose sight of saving time in an era where gold is more than ever.
  • Flexibility:  a concept 100% applicable to Fintech. This type of technology builds new, more agile workflows. Therefore, they allow you to save data, carry out operations through alternative financing and much more; where and when you want.
  • Transparency:  through this technology applied to finance, the company can manage in a transparent and fast way. In this way, Fintech becomes synonymous with business transparency.
  • Efficiency:  financial technology is and makes us more efficient. Automation is  a great specialization since it offers very specific services . Thus, its high degree has an impact on a high level of efficiency and quality of services, as well as a quick and agile response. According to a study that we see collected in the “ I  Captio & ASSET Fintech Report  : Spanish companies as users of  fintech ”, of the reasons why companies in our country invest in fintech solutions  They emphasize efficiency and better time management. Thus, for finance professionals, the main advantage of using technology over finance is, for 54.6%, to  achieve more efficient processes or management for their company . Saving time (50.9%) and immediacy (41.7%) are some of the most common reasons.
  • Analysis:  the use of this type of technology improves the analysis of processes, with more detailed information and data. In general, then, significant competitive advantages can be achieved over competitors who do not use this type of services or platforms.
  • Better internationality:   Often, the rigidity of the traditional financial sector makes it difficult or slower to manage between different countries. The business world in general, and Spanish in particular, is much more global than some of these traditional companies are prepared to manage. Emerging companies related to  financial technology , despite being relatively small and young companies tend to be more prepared in this regard. They understand well the needs related to the internationalization of companies and offer more flexibility and better related solutions.

The fintech sector   ( finance  +  technology )  is booming. More and more companies around the world are choosing to use these products and services.

Do Spanish companies know the term  fintech ? Are you adapting to this new paradigm of finance? What advantages does it bring them?

In this free report we reveal the current panorama of Spanish companies as fintech applicants and users  .

This report has been produced with the collaboration of: 

3. Infographic: Past vs Future of Business Finance

The financial sector is experiencing a true paradigm shift with the appearance of new solutions based on technological advances.

4. Regulation

In order to boost the sector, the European Parliament approved the DSP2 payment directive in 2015, the effects of which are already noticeable in Spain and thanks to which it is possible to pay for tickets to concerts and events on the mobile bill.

In addition to European legislation, the Spanish one is also moving towards a new regulation of the fintech sector  , although at a forced march. In May 2017, the public consultation period for the future payment services law ended and for which companies are asking for much greater flexibility, similar to that of the Anglo-Saxon countries. In fact, the system preferred by the experts is the British one, which has developed  a test system or  sandbox  in which  companies can test their innovative business models without being subject to the usual control measures  .

However, the  sandbox  would not be completely deregulated, since it is necessary to establish certain levels of security and solvency criteria that avoid fraud and generate distrust in the sector. For these reasons, the new law should set standards for the selection of  startups  capable of operating in the  sandbox , in addition to the time period in which fintech companies   can enjoy this special area, as well as the obligations to which they would be subject. .

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