NEW YORK--(BUSINESS WIRE)--Moody’s Analytics, the leading provider of lending and risk management solutions, today announced the launch of the MARQ portal, an innovative tool that automates the exchange of financial information between borrowers and lenders and generates the MARQ small business credit score.
Moody’s Analytics, a leading provider of analytics to support risk management, invites US business owners to try the MARQ (Moody’s Analytics Risk Quality) business credit score. The MARQ score is part of Moody’s Analytics’ efforts to equip small businesses with tools to facilitate their growth and access to credit. The MARQ score is available for free at www.MARQscore.com.
Finagraph is making their business analytics tool available for free to accountants and business owners. Finagraph is designed to instantly identify where a business is strong and where it can improve. Risk indicators, sales trends and industry averages are among the data presented to help businesses understand their financials and translate them into action. Based on accountant feedback, Finagraph also added a new print feature making it easy for accountants to print an actionable summary to share with clients.
Blockbuster thought they had it made, yet they could have turned into a Netflix. Borders thought in terms of books, when they should have thought in terms of Kindles and electronic distribution. Kodak invented the first digital camera, but was afraid to introduce it for fear of losing sales of film. The value of taxi medallions is declining, as Uber (a technology company) is changing the business model. Airbnb is changing how people secure accommodations.
Ask any small business owner applying for a bank loan what their biggest gripe with the process is, and more than a few are likely to mention the tortoise pace at which loan applications are reviewed and approved.
Bank loans are notorious for their lengthy loan application processes, with most taking a few weeks to complete. Though the economy is in recovery mode, the recession made a huge impact on how banks deal with small business loans. Banks now require more from a loan applicant and are stricter about who they lend to. For this reason, the underwriting process can seem to drag on, and this puts a strain on small business owners who find themselves in the “need cash now” boat.
One of the best things about all of these is the opportunity you have to check out the Apps and the vendors. The demos are terrific, and specials are readily available. Groups that often attend include TSheets (above), Hubdoc, Funding Gates, ScanWriter, LivePlan, Finagraph and Bill.com. The learning opportunities will surround you.
It’s time to make sure your clients come to you for advisory services regularly, and not just once a year. Have you set up Dashboards that they can see? This will prompt clients to ask you how they can be more profitable, liquid and solvent. It’s all about client advisory services, and not about compliance. Compliance is a necessary evil and a commodity service, whereas advisory services allow you to value-add price and drive recurring revenue.
Imagine you’re a business owner. Most of your day is spent running your business, leaving no time to work on your business. From coordinating employees and paying vendors to managing inventory and customer service – the demand is endless. At the end of each day, it can be overwhelming to identify inefficiencies and detect where money is falling through the cracks. That's where Finagraph comes in.