Firms count on software to help lighten the load

Jul 23 2009 by Andrew Mernin, The Journal

A NEW software-based service has been launched to help firms review their accounts on a regular basis, allowing them to take greater control over their credit and funding.

Accountants and business advisory group RMT, of Gosforth, Newcastle, is using specialist software Validis Amatino to provide a quick and detailed analysis of client accounts.

The system enables tailored, client-focused management reports, including information on sales performance, profit margins, debtor analysis and working capital management.

It can also automatically submit financial reports in a standardised format from businesses to their credit and finance providers.

Stephen Slater, commercial services partner at RMT, said: “In the current economic climate, businesses are increasingly being required to produce accounts to meet the needs of lenders, suppliers and credit risk insurers.

“It is essential that these firms are given the correct support to meet these requirements, as failure to do so may lead to the withdrawal of credit and restricted access to funding.

“Producing detailed financial reports can be time consuming for businesses and this system takes away this strain, allowing our clients to focus on their core objectives.”

Meanwhile, RMT has teamed up with Norwegian web developers eXcommerce to help more North East businesses establish their own website, trade on the internet and integrate their online sales activity with their accounts.

Matt Flinders, marketing manager at RMT, said: “Businesses need to adapt to meet the changing demands of the market and websites are a key marketing tool for building your brand with a global audience.

“Online firms can also operate at a lower cost than traditional bricks and mortar companies, which is particularly important at the moment.

“This service is designed to help businesses grow and RMT is lending a hand to firms looking to get online quickly by providing consultancy business support and strategic advice.”

Used by BT, Microsoft and Nokia, eXcommerce is an e-commerce solution that includes template design and domain space for a website alongside tutorials and a support service.

RMT employs around 85 people at its headquarters on Gosforth Park Avenue.