Finance in Plain Language

Do you really know what's going on with your finances? "I have an accountant, so everything is fine with my finances" — this sounds logical, but only at first glance. The real question is: what kind of data do you use to make decisions about pricing, investments, business growth, or cutting certain areas?

Figures from official accounting reports prepared under NAS (National Accounting Standards) or IFRS are often not timely or detailed enough for day-to-day management tasks. Relying solely on them is like managing your business with your hands tied.

In this article, we’ll break down the real difference between accounting and financial management, why the latter is absolutely essential for any business — and how it helps entrepreneurs gain clarity, control, and confidence in their finances.

Accounting Is Done Mainly for the Government

Accounting is about formality and compliance. Its main purpose is to prove that your business plays by the rules: pays taxes properly, keeps records, submits reports to the tax authorities and other regulators.

What does accounting show?

• What your company owns (assets).
• How much it earns and spends (income and expenses).
• What it owes and to whom (liabilities).

This is the language of the state. That’s why everything here must strictly follow regulations: formats, deadlines, and legal terminology. For you as the owner, this data often holds only technical value.

How Financial Management Works for Your Profit

Financial management is the language of business. It’s created not for the government but for you, and it shows only the numbers that help you manage effectively, increase profits, and avoid financial losses.

What does financial management show?‍

Want to know which projects are profitable and which are draining resources? Which markup actually works? Which department generates revenue, and which burns the budget? All of this is shown through financial management.

Key distinction:
Accounting answers the question: Is everything correct?
Financial management answers: Is everything profitable?

And if you rely solely on accounting — you’re not getting analytics, you’re just getting a report.

Why Your Accountant Shouldn’t Be the Only One “Responsible for the Numbers”‍

One of the most common business scenarios is when all financial responsibilities are given to the accountant. Formally, they’re in charge of record keeping and reporting, but in practice they’re also expected to calculate profits, analyze expenses, advise on investments, and prepare budgets.

Business owners get used to having all the numbers in one person's hands, and that’s convenient — but this model has serious limitations.

Accounting and financial management are different processes, requiring different logic, skill sets, and approaches.

Key Tasks of an Accountant

These functions ensure the company's financial transparency to the state:

• Maintain records according to NAS or IFRS.
• Prepare mandatory reports for tax and regulatory authorities.
• Control primary documentation.
• Calculate payroll, taxes, depreciation, and reserves.
• Handle audits, inspections, and work with regulatory bodies.
• Ensure compliance with tax and legal requirements.

Key Tasks of a Financial Management Specialist (CFO, Analyst or Financial Analyst):

These tasks form the basis for effective management of money, profits and the financial future of the business

• Financial planning, budgeting, variance analysis.
• Profitability, cost-effectiveness, and margin analysis.
• Create financial management reports (P&L, Cash Flow, Balance Sheet in internal format).
• Forecast cash flows.
• Build financial models and assess project viability.
• Provide analytics for decision-making.
• Oversee financial strategy implementation.

In companies where only the accountant handles finances — it works only up to a certain level. But this doesn’t diminish the accountant’s role: they do complex, vital, and technical work.
It’s just that their job is about accuracy and compliance, not profitability and strategy.

If you want a true financial picture to manage your business — you need a separate function or expert focused specifically on financial management.

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Compliance ≠ Cash Flow Control‍

Accounting is not designed for owners or for daily business management. Its goal is to ensure legal compliance. That’s why it doesn’t answer key questions owners ask:

• Which business line is the most profitable?
• Where are we losing money?
• What is our breakeven point?
• Which projects should be shut down, and which ones scaled?
• Will we have enough cash for payroll in two weeks?

Why Accounting Doesn’t Give You the Answers You Need

Even if the data in your accounting system is technically correct — it’s often not structured in a way that helps you manage the business. Here are the main issues:

• Reports are delayed — real data may come weeks or months after the fact.
• Data is aggregated, with no breakdown by product line, client, or sales channel.
• Expenses are recorded by accounting logic, not where they actually occurred (e.g., to the warehouse or into the cost of goods sold for the whole business).
• Financial management-specific details (like conditional costs, allocated budgets, internal transfers) are not considered.

As a result, owners receive correct but useless information. Everything looks fine on paper, but in reality — cash gaps, unprofitable units, and chaos in decision-making.

See. Calculate. Act: Why Owners Need Financial Management‍

Financial management is not about formality — it’s the core operational tool for owners and executives. When set up properly, it shows you what’s really happening in your business and helps you make fact-based decisions.

The key problems financial management solves:

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1. Profitability analysis by product, project, business line
   You can see exactly what’s profitable and what’s wasting resources.
2. Budgeting and financial planning
   Plan income, expenses, profits, and cash flows. Analyze deviations between plan and actuals.
3. Liquidity forecasting and cash gap prevention
   Financial reports help you know how much cash you’ll have in the future.
4. Expense control and business model efficiency
   View costs by direction, channel, or product — and cut the waste without touching profits.
5. Financial reports for owners or investors
   A transparent, structured financial model is the foundation for growth, funding, or selling the business.
6. Timely information for decision-making
   Reports are prepared weekly or monthly — not quarterly, when it’s too late to change anything.

And although financial management is a conscious leadership choice, some countries legally require entrepreneurs to implement it alongside accounting.

To grow — you must delegate: finances should work for you‍

If your business is still small, you can start on your own: spreadsheets with income and expenses, manual cost allocations, a simple budget. That’s already better than nothing.

But sooner or later, you’ll hit a wall:

• Your numbers don’t match
• Reports lag behind reality
• You start doubting the data
• It becomes hard to make decisions — because you don’t trust the numbers

Financial management isn’t just a set of files. It’s a system that must be implemented, supported, and scalable.

That’s where experts come in. An experienced financial specialist can:

1. Build the right analytical structure
2. Set up logic for cost allocation
3. Create reports that actually work
4. Prepare you for growth or investment
5. Help you avoid costly mistakes

Your job is to make decisions. The financial expert’s job is to give you the right numbers. Regularly. Accurately. Without doubt.

So yes, both accounting and financial management matter — because they answer different questions: one ensures legal compliance, the other drives business performance.

It’s your choice: settle for what’s required by law, or implement financial management and finally start running your business based on real numbers!

Finance doesn’t forgive assumptions. If you’re keeping records with a “I’ll write it down later in my notebook” or “I’ll just remember it” approach, get ready for financial chaos.

One account, multiple directions and clients — and suddenly you no longer understand what’s bringing in profit and what’s just draining resources.

How can you detect in time that one direction is consuming all your profits? Without a clear management system, you risk not noticing how the money is simply disappearing and the business is heading toward financial disaster. Let’s figure out how to spot the problem early and take control of your finances before it’s too late.

Multiple Directions — One Answer: Calculate Profitability

If you have several business directions, you’re no longer just an entrepreneur — you’re the owner of a portfolio of mini-businesses. And each one has its own economy. The only question is whether you can see it.

To understand what’s truly working, you need to calculate the profitability of each direction separately.

Profitability isn’t just a percentage in a report. It’s an efficiency indicator that shows how productively a business uses its resources to generate profit.

The most important type is usually considered to be sales profitability, and the higher the figure — the better the company controls its expenses:

Profitability = (Profit / Revenue) × 100%

For example, if you earned $80,000 in revenue from a certain project, and the net profit from this direction was $20,000, then profitability is calculated as follows:

(20,000 / 80,000) × 100% = 25%

This means that each dollar earned brings in $0.25 in net profit.

If you understand profitability and know how to “read” it, the question “where to find money?” solves itself.

Because if one direction brings only 5% profitability, while another brings 28% — that’s a clear signal where to invest more time and resources, and what to stop before it’s too late.

When There’s a Business but No Money — the Problem Is Not the Market, It’s the Financial Management

Management by profit centers is not a whim, but a survival tool. If you don’t see profitability separately, it means you’re not managing the business — you’re just reacting to problems after they arise.

With this understanding, the owner of a construction company offering several types of services turned to Finmap.

The company is involved in construction, performs renovation work, and sells building materials. Each of these directions has its own clients, contracts, and payments.

However, there was no talk of financial order. The owner complained that in some months, his foremen were earning higher salaries than he could take out as dividends.

Sometimes at night I’d lie in bed and spend half the night trying to piece together the full picture in my head, to understand what I was doing wrong. Maybe someone else would have already shut everything down and gone back to doing regular renovations. But I couldn’t just give up! — Owner of a construction company.

To move forward, it was necessary to optimize processes and clearly define key financial indicators. The company owner identified several mandatory points he wanted to track:

1. Profit and profitability of each direction. It’s important to be able to open a report, for example, for “Construction,” and clearly understand the revenue, expenses, margin, and profitability of that direction. This helps assess whether it’s worth continuing to operate in that area.
2. Results by each client and project. It’s essential to see which orders don’t bring profit and whether it’s necessary to adjust pricing for construction and renovation services to avoid loss-making contracts.
3. Overall results for the entire company. The ability to determine how much profit can be directed to dividends and how much should be reinvested in business development.
4. Optimization of petty cash processes. Foremen constantly handle cash, and tracking expenses that occur multiple times a day without a proper system is extremely difficult. It was necessary to implement a mechanism that allows easy control of these expenses and ensures transparency.

Due to lack of time for developing and creating complex Excel spreadsheets, Finmap’s automated solutions became the optimal choice for effective financial management.

How Finmap Helps Structure Finances and Make Strategic Decisions

The experience of the construction company proves that when a business develops in multiple directions, financial management without a system can easily turn into chaos. Below is a brief overview of key solutions that transformed internal financial management within the company.

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Three Directions — Three Separate Financial Realities

Finmap’s financial management system includes a dedicated feature for separating business directions — Projects. This entity can be used to tag not only types of activity but also the cities or countries where the business operates, locations, sites, orders, etc.

The company divided its activity into three main directions:

• Construction
• Renovation work
• Sale of materials

Each payment was tagged with a project — manually or using auto-rules. After a few weeks, the system gathered a full picture — profit and automatically calculated profitability for each direction are now tracked in real time.

How to Ensure Full Analytics by Client

In addition to Projects, payment records also include tags — names of the sites and locations where the crews are working. This allows the company to, within seconds:

• filter all expenses and income by a specific client or site;
• see how much each object generated;
• generate a report with the desired level of detail.

A pleasant bonus was the ability to plan all inflows and outflows by project and not only see the current budget status but also forecast the future result.

The “Profit” Report: Strategic Decisions, Not Gut Feeling

Once financial management was implemented, the P&L report became the main source of answers for the owner:

• What is the company’s real profit?
• How much in dividends can be withdrawn now — without harming future periods?
• Which project is worth scaling?
• Where are we losing margin, even though it seems like “everything’s fine”?

Custom reports were also created based on saved filters. This detailed the financial results of each project. Now the owner has well-founded information on the profitability indicators of each of them.

Petty Cash Without Chaos: Mobile Apps

The issue of petty cash was resolved in a very sustainable way. A separate account was created for each foreman. No access to the company’s general budget — only to their own accountable funds.

Employees no longer struggle with reporting, as they can now enter the expense right away in the mobile app, attach or take a photo of the receipt, and not worry that a purchase might be forgotten.

Result:

• less stress for employees;
• a complete financial picture for the manager;
• zero losses and confusion.

This solution not only improved financial management but also reduced tension within the company. The foremen don’t spend time after work or on weekends — they enter the data immediately while on-site, which is convenient for both staff and management.

This case is not an exception — it's an example of how proper financial analytics transforms business management.

Finmap didn’t just gather numbers in one place — it gave the owner a clear understanding of what’s working and what’s dragging the business down.

While others rely on gut feeling, this company makes decisions based on facts. Because business is not a game of chance. It’s about control, structure, and confidence in tomorrow.

Want to make well-grounded decisions instead of relying on luck? Work with numbers — work with Finmap.

Investors do not hand out money just for a good idea. They invest in a vision supported by real financial arguments. An ambitious project, a strong team, and scalability prospects are important, but without a clear financial strategy, there will be no deal.

Can you convincingly explain how the invested funds will turn into profit? If not, the chances of securing investment are nearly zero. Strong financial indicators are not only proof of a business’s viability, but also a demonstration of its readiness to compete in a large market.

How to properly prepare for attracting investments and what really convinces investors – we break it down in this article.

Why Excel Is a Trap for Business and How to Escape It

Every entrepreneur has faced this: chaos in financial management, wasted time, and endless corrections of broken formulas in Excel.

This was also the case for Artem Sitnikov, the founder of SITNIKS CRM – a customer relationship management system designed for small and medium-sized businesses.

He quickly realized that without a clear financial management system, a business cannot survive.

Where to Start? Ordering custom Excel spreadsheets. The idea seemed logical, but reality quickly made things clear:

• Constant updates – a waste of time, which is always in short supply.
• Formulas break – one mistake, and reports lose their meaning.
• Inconvenient access – employees could see everything or nothing at all.
• No change control – it was nearly impossible to track who made what changes to the files.

Managing finances in this way was frustrating, time-consuming, and did not bring the expected results.

Artem did not stop there and continued to search for the ideal financial management solution that would meet the following key requirements:

• Reduce and optimize the time spent on financial management.
• Eliminate the need to manually enter data.
• Automate report creation and avoid errors.
• Maintain transparent and efficient reporting for investors.

Automation Without Fear: How Finmap Makes Financial Management Simple and Secure

Before fully switching to Finmap, Artem Sitnikov faced common business concerns:

Should all company accounts be connected? How safe is it?

Transferring financial data is a serious step, and any mistake can be costly. The transition took quite some time, but now Artem strongly advises against being afraid. In reality, there is no risk at all.

Finmap is an aggregator of all transactions.

All operations remain in your banks – Wise, Santander or any other. The service simply collects data from bank statements into a single system to automate calculations and generate accurate reports.

The key factor in choosing Finmap was the P&L report, which Artyom called “Finmap gold”. But let's go through everything in order.

P&L, Cash Flow, and Automation: What Makes a Business Attractive to Investors

Financial routine slows down business growth. Thanks to Finmap, Artem's company eliminated financial gaps, gained a clear financial picture, and created attractive conditions for investors. Here’s how it works in practice:

• The issue of time optimization was resolved through banking and individual integrations, as well as automation rules.
• With these tools, data entry and processing require only minimal intervention from managers and the owner.
• Using flexible access settings, financial management was easily delegated to employees. As a result, Artem no longer has to dive into daily routines and can instead focus on scaling the business and attracting investments.

• Potential and existing investors gain full visibility into the company’s financial flows. They can assess its stability, expenses, and future financial obligations at any time. This not only builds trust but also makes the business more attractive for new capital investments.
• By setting up the process of collecting and processing transactions, the Cash Flow report in the company is now generated automatically.
• The Profit and Loss (P&L) report consolidates all data and provides real financial results by category, contractor, and project. A detailed filtering system helps analyze data not only on the overall state of the business but also by individual metrics. At the same time, the report’s interface and content remain simple and easy to understand.

• After solving the key financial issues, Artem focused on another critical aspect: managing accounts receivable – a hidden profit reserve. Using a specialized report in Finmap, the company quickly identified clients who delayed payments in certain months.
  ‍The result: Now, funds arrive on time, which positively impacts cash flow and helps avoid cash gaps.

How to Improve Financial Reporting: Tips from Artem

Financial reporting clearly shows where money is going, how stable income is, and whether a business can attract investments. Artem Sitnikov shares key recommendations from his own experience:

• Start using a financial service as early as possible. Time is a resource that should not be wasted. The sooner you start financial management, the faster you can optimize expenses and increase profitability.
• Make financial reporting clear. Investors and partners must clearly see how your business operates and how you plan to use their funds. Transparent finances build trust and simplify capital attraction.
• Analyze financial flows. Using modern tools like Finmap helps maintain organized records, quickly identify problem areas, and make informed decisions.

Artem’s experience proves that adopting modern financial management solutions can turn a startup into a profitable company.

How Finmap Opens the Way to New Heights

The biggest breakthrough after implementing Finmap was that attracting investments became easier, and negotiations with investors became more convincing. Now, financial analytics are more accurate than ever, and potential partners have full access to key business indicators in real time.

Instead of endless spreadsheet exchanges and manual data consolidation – automation and transparent reporting. This is not just saved time and money, but a foundation for growth. Thanks to Finmap, the company has not only optimized processes but also become more attractive for new capital investments.

After implementing Finmap, we attracted our first investment
- Artem Sitnikov, CEO & Co-founder of SITNIKS CRM company

Tools for Your Financial Success

Regardless of your goal – attracting investments, taming financial chaos, forecasting and avoiding cash gaps – all Finmap tools work for you:

• Centralized data storage – all financial data in one system for easy analysis and management.
• Automatic calculations – calculates key financial metrics automatically, reducing time spent on manual calculations and minimizing errors.
  ‍

Financial chaos? Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

no card required

‍

• ‍Integration with banks and payment systems – seamless interaction with financial institutions.‍
• Payment Calendar – ensures forecasting and cash flow planning.‍
• Cloud storage – guarantees data security and accessibility.‍
• Automation rules – streamlines routine processes and improves efficiency.‍
• Flexible access system – custom access levels for different users.

Finmap is not just a financial management tool, but a strategic partner that helps not only organize finances but also unlock new opportunities for investment.

Ready for a financial revolution in your company? Start using Finmap today!

You work tirelessly, your team gives 100%, revenue flows in, yet by the end of the month, there’s barely any profit left. If this sounds familiar, you probably suspect that the issue isn’t low sales but rather a lack of clear financial visibility. This is where financial accounting comes to the rescue.

It’s not just numbers in Excel or reports for tax authorities. It’s a financial analytics system that reveals where your business is losing money and how you can preserve and multiply it.

Why Financial Management Matters More Than a Business Owner’s Intuition

Let’s look at a real case involving one of our clients — entrepreneur Yevhen, who successfully transformed his business and doubled his profit. He owns a law firm operating in multiple areas but, for confidentiality reasons, has requested not to disclose its name.

Like many business owners, Yevhen saw the overall profitability of his company but lacked a clear understanding of the financial performance of each individual segment. This became a critical issue when he considered scaling and expanding into new markets.

A thorough analysis uncovered an unexpected reality: out of five business areas, only two were profitable, one was breaking even, and two were operating at a loss. This raised an important question: how could he adjust his current strategies to reduce losses and improve business efficiency?

The solution was drastic:

• Eliminate the break-even segment and redirect the team’s resources toward developing profitable services, enhancing their effectiveness.
• Shut down one unprofitable segment since it showed no growth potential.
• Retain the second unprofitable segment because it played a strategic role in attracting clients to profitable services. However, to stop it from generating losses, Yevhen had to optimize expenses and rethink operational processes.

The results were immediate: after the reorganization, only three segments remained, yet the company’s profit doubled the very next month. And all this — without hiring more staff, making additional investments, or acquiring new clients.

This story once again proves that without financial management, it’s difficult to identify a business’s weak points. Accurate financial data enables informed decision-making rather than relying on intuition, which can gradually lead a company to bankruptcy.

Key Elements of Effective Financial Management

For financial management to truly help increase profits, it’s not enough to simply collect data — you must also interpret it correctly. A clear financial structure allows you to quickly identify problem areas, make well-informed decisions, and grow your business without unnecessary financial risks.

What are the foundations of effective financial management? Let’s break down the essential elements that make it work.

1. Unified Data System

Settlement and card accounts, cash in any currency, even cryptocurrency — all financial flows should be consolidated into a single system. This ensures that records reflect not only legal entities but also real cash flows and company wallets.

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As a business owner, you shouldn’t have to guess how much money is in the business — you need to see it clearly and instantly. How much cash is available right now? What is the actual profit? Where is the money going? These answers should be accessible in one click — without chaotic bank statements and endless spreadsheets.

2. Standardized Data

Without a unified system for collecting and analyzing financial data, there’s always a risk of losing control over finances, which can lead to inefficient resource management.

What does data standardization include?

• Clearly defined responsibilities. Each team member should understand their role in financial management and be accountable for their segment.
• Strict reporting deadlines. Timely data collection and reporting are not just good habits—they are the foundation for making informed and timely decisions.
• Structured income and expenses. Without clear categorization, it’s nearly impossible to assess the company’s true financial standing.
• Defined business segments and projects. If revenue-generating areas aren’t distinguished, measuring their profitability becomes impossible.
• Consistent profit and cost calculation rules. Without clear criteria for cost allocation, depreciation, and other expenses, financial reports become vague and unreliable.

3. Clear and User-Friendly Analytics

To make effective management decisions, a business needs a clear financial picture spanning several months or even years.

It’s crucial to present this data in a convenient format — charts, dashboards, and visual summaries all on one screen, rather than scattered across chaotic, manually compiled spreadsheets.

This approach eliminates time wasted on endless number crunching and allows leaders to focus on strategic decisions that drive business growth. Without such a system, a business is essentially operating blindly.

4. Segmented Profit Calculation

Profit shouldn’t be calculated only at the company-wide level—it must be broken down by projects, business lines, product groups, and sales channels. Additionally, tracking margin and profitability for each segment is essential.

Only a segmented approach enables entrepreneurs to clearly understand why profits are declining and what needs to be adjusted to reverse the trend. Without detailed insights, businesses risk overlooking critical shifts in specific areas and expenses that could significantly impact overall results.

5. Calculated Break-Even Point

How much do you need to sell — daily, monthly — to reach break-even? Where is the fine line between profit and loss, and how many sales are required for your business to become self-sustaining?

These figures must be precisely calculated. Continuously monitoring them allows for timely strategy adjustments and swift responses to market changes.

6. A Fixed Income and Expense Plan‍

Imagine this scenario: tomorrow, you need to pay a contractor, but your account balance is just enough to buy some cookies for tea. In a week, you’ll receive a large payment, but in the meantime, the contractor bombards you with frustrated messages and threats to terminate the partnership.

This doesn’t mean your business is unprofitable — it’s a classic cash flow gap, where incoming and outgoing funds are out of sync, leading to a temporary shortage for covering operational expenses.

‍

Financial chaos? Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

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Why endure unnecessary stress and waste time on apologies?

To avoid these situations and prevent every payment from becoming a crisis, you need a reliable tool — a Payment Calendar.

This will be your trusted ally in managing cash flow and planning expenses to avoid financial pitfalls. You can track all income and expenses in a simple Excel spreadsheet or use an automated solution. This way, you’ll not only know how much money is coming in and when but also plan your spending regardless of circumstances.

Business isn’t just about taking risks — it’s also about anticipating them.‍

In essence, financial management is a navigator that helps design and optimize long-term business strategies, set realistic goals, achieve them, and build a stable, profitable company.

Simplify the Process with Finmap

A simple online financial management tool like Finmap can make this process effortless and transparent.

With Finmap, you can:

• See all your business finances on one screen.
• Generate automated financial reports in just two clicks.
• Plan income and expenses effectively.
• Delegate routine financial tasks to employees.
• Maximize your business profits.

Start building a successful future for your company today!

Most entrepreneurs perceive financial management as a continuous, systematic process of data collection and processing. They assume that once set up, it will operate seamlessly without further adjustments. However, this is a misconception.

Effective financial management is only possible when it aligns with current trends and the modern business landscape. Methods that were effective 3–5 years ago may now only complicate processes and consume additional time.

Are you ready to discover what lies ahead for financial management in 2025? The trends shaping its efficiency could be the key to your business success. Don’t miss the opportunity to implement innovations in time and stay ahead of the competition.

Cybersecurity

The advancement of digital technologies creates new opportunities for businesses but also makes them more vulnerable to cyber threats.

Financial information is one of a company's most critical assets. Protecting data from leaks, attacks, and internal threats must be a top priority.

The rise in cyberattacks worldwide is driven by increasing geopolitical instability and the digitalization of businesses. As a result, the cybersecurity market has expanded, boosting demand for automated solutions with built-in security systems.
In financial management, this translates into the need for:

• Protecting data from unauthorized access.
• Secure storage of financial documents in cloud services.
• Minimizing the risks of data loss or theft of confidential information.

Given the growing cyber threats, companies must combine innovative management solutions with robust data protection mechanisms to mitigate risks and ensure the stability of financial processes.

Systematization

Systematizing financial processes is not just a trend but a strategic necessity.

It involves structuring financial data, implementing clear standards, rules, and procedures that simplify analysis and reporting. This, in turn, enhances the speed and efficiency of managerial decision-making.

A system is what separates a successful business from chaos. - Ray Dalio, Founder of Bridgewater Associates

Systematizing financial management provides businesses with a range of strategic and tactical advantages, as it leads to:

• Increased accuracy of financial information.
• Transparency and control over cash flows.
• Cost optimization and improved profitability.
• Compliance with legal requirements and risk reduction.
• Strengthened financial discipline within the company.
• Readiness for scaling and attracting investors.

Companies that neglect financial systematization are playing financial roulette. Meanwhile, those that implement a structured approach gain control, predictability, and a competitive edge. In an era of rapid change, survival belongs not to the largest but to the most organized.

‍

Financial chaos? Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

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‍

Process Automation

Financial Management Automation, along with systematization, becomes a key factor in effective financial management. It can be achieved by implementing the following functions:

Integration

Integrating management systems with banking and payment services (Stripe, PayPal, Fondy) enables real-time receipt, processing, and analysis of financial data, ensuring:

• significant time savings on transaction processing;
• minimization of risks associated with human error;
• transparency of financial flows;

Auto Rules

Modern financial management services allow for the creation of automatic payment distribution rules based on categories and other characteristics (for example, all payments with the comment “Payment for (product/service)” are automatically classified under income with the “Sales” category).

Automatic Financial Reporting

Instead of simply using templates or pre-made report formats, opt for programs that will automatically generate the main reports based on the entered data. Prioritize services that allow for the automatic generation of:

• Balance sheet
• Profit and loss statement
• Cash flow statement
• Debt report

Electronic Document Management

‍The transition to e-document management minimizes paperwork, automates invoice issuance, contract signing, and document exchange with counterparties and tax authorities.

Delegation and Implementation of AI

‍Continuing the topic of automation, it is important to highlight the involvement of artificial intelligence in the financial management process. Currently, AI should be seen not as a threat to jobs, but as a way to free people from routine tasks.

AI can be implemented in the following areas of management:

1. Report Generation and Analysis
   Artificial intelligence can process financial transactions and generate reports with analytical conclusions in a structured format. This helps facilitate prompt management decision-making, reduces the workload on staff, and minimizes the risk of human error.
2. Forecasting and Risk Management
   Algorithms can analyze historical data and market trends, predict future financial indicators, identify potential risks, and recommend strategies for risk mitigation.
3. Security and Responsibility Control
   This tool can verify transactions for compliance with tax and financial regulations, detect suspicious transactions, and reduce the risks of fraud.

Forecasting

‍Oleksandr Kravchenko, Managing Partner at McKinsey in Ukraine, advised businesses at the "Ukraine Tomorrow" event to change their approach to activity planning and develop three scenarios: optimistic, pessimistic, and realistic.

Finmap experts recommend creating financial forecasts based on last year's data while considering the aforementioned scenarios. This approach will provide you with a clear action plan and allow you to take informed steps in case of various challenges.

You can’t predict the future, but you can plan for it. - Peter Drucker

Thus, financial management in 2025 requires not only accuracy but also adaptability to changes. Companies that implement modern tools for financial management and forecasting will not only optimize their operational processes but also enhance their competitiveness in the business environment.

Are you looking for a solution that meets all the trends of modern financial management? Start working with Finmap — turn numbers into a tool for business scaling and make proactive decisions!

The beginning of the year is an opportunity to see the true picture of the business based on the results of the past period. What worked best? Where are the hidden reserves for growth? How can you prepare the financial foundation for a successful start to the new year?

In this article, we will explore how to summarize the financial results of the year without missing any important details and how to prepare for planning the upcoming year.

How to Prepare Your Annual Financial Statements Without Any Hassle

Effective financial planning and summarisation helps businesses make informed decisions and avoid mistakes. Follow these tips to make the annual reporting process more accurate and convenient.

• Summarize the annual results at the beginning of January, not at the end of the calendar year. This way, you can collect and systematize all the data related to the past period, even if payments were delayed.
• Implement regular monitoring of the financial situation to minimize the risk of unexpected results at the end of the reporting period.
• Use specialized financial tools throughout the year to collect and store data in a unified system.

Key Metrics for Assessing the Financial Health of a Business

Financial analysis is the foundation of effective business management. To make the right decisions, it is important not just to record income and expenses but also to evaluate key indicators, track their dynamics, and identify patterns.

This will help uncover the strengths and weaknesses of the business, optimize costs, and improve financial results. Let’s explore which indicators should be analyzed and how understanding them can enhance profitability and financial stability of the company.

• Sales Volume in Monetary Terms: This indicator should be analyzed by major product groups, services, and projects, comparing them with previous periods and analyzing the factors that influenced fluctuations.
• Net Cash Flow, according to the Cash Flow report, shows the balance between the company's income and expenses on a monthly basis. Cash flow analysis helps identify periods with a negative balance and the sources to cover it, which is crucial for planning future financial flows.
• Total Business Profit for the Year is a key performance indicator that reflects the overall financial outcome of operations and allows an assessment of the change in results compared to the previous year.
• Profit Dynamics by Month serves as an indicator of business seasonality. If profit shows clear peaks or declines, it allows for adapting the financial strategy, optimizing costs, and adjusting marketing activity.
• Profit by Business Areas – projects, locations, sales points, product/service groups, etc. – helps identify the most profitable products and services, enabling more effective resource allocation and focus on promising directions.
• Margin by Key Areas and Projects reflects how much net profit each area or project generates after accounting for variable costs, which is critically important for strategic business management.

• Share of Key Expenses Relative to Sales allows you to assess the proportion of each expense item, determining their impact on the overall financial result and controlling the dynamics of changes. If the share of key expenses is constantly rising, it signals the need to review the cost strategy, especially if sales are growing more slowly.
• Business Profitability for the Year is a relative profitability indicator used for comparison with market averages. When compared to last year’s data, it provides insight into whether operational efficiency is increasing.
• Financial Position of the Business: Analyzing assets and equity, as well as the ratio of working capital to current liabilities. This is determined based on the management balance sheet and helps to identify changes in the structure of assets and liabilities, as well as assess the company’s ability to meet obligations and the effectiveness of profit utilization.
• Additional key indicators for your business may include: ROI, LTV, MRR, Break-even Point, Unit Economics, etc.

Regularly assessing key indicators allows you to control the financial situation and identify hidden opportunities for growth. A strong business is built not on assumptions, but on accurate data.

Therefore, it is important not just to look at the numbers, but to understand their meaning, learn to forecast risks, and act proactively. Those who systematically analyze their finances achieve stability and a competitive advantage, which ultimately determines the company’s future.

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Benefits of Annual Analysis for the Financial Health of the Company

Annual analysis is not only an assessment of the company’s performance but also an important tool for strategic planning, allowing you to:

• ‍Adjust current business processes.‍

If throughout the year the company faced issues such as a lack of working capital, failure to account for seasonality, or a slowdown in sales, it signals the need for changes.‍

• ‍Conduct a deep analysis of the company's financial position.

‍It is important to focus on the ratio of working capital to current liabilities to avoid cash flow gaps. Profitability and margin indicators should be used to assess the effectiveness of resource utilization.

• Make decisions regarding key business areas.‍

Annual analysis helps identify the most profitable projects and assess the costs of supporting unprofitable ones, as well as their impact on overall financial performance. Based on the report, insights can be gained on alternative monetization strategies or the reformatting of unprofitable assets.

Predefine the break-even point for each business area to keep track of the indicators throughout the year.

• Develop a growth strategy adapted to the real market conditions.‍

Use the data collected to compare with market averages and adjust the strategy to external changes. Market shifts may require adjustments to pricing policies or product assortments.

How Annual Analysis Helps in Making Strategic Decisions

Assess possible business development scenarios based on financial data and prepare flexible strategies for different economic conditions (growth, recession, changes in demand).

Annual reporting is also one of the key foundations for building a financial model for the business, which in turn helps to find answers to questions such as:

• How to predictably and steadily earn more;
• How to keep the business above the break-even point;
• Is it profitable to open a new business direction;
• How to prevent crisis situations.

Thus, compiling annual reports helps analyze business performance and make informed management decisions regarding future development. It’s important to note that you can quickly obtain accurate annual results only with a well-established systematic accounting process.

Finmap will help organize your finances and become your reliable support in the world of numbers. No more trouble with reporting!

Is it possible to scale successfully while keeping all records in notebooks and homemade spreadsheets? “Definitely not!” confidently answers Oleksandra Kulykova, founder and CEO of Kukuruza Video Production.

Scaling a business without process automation is like building without a foundation. This renowned video production studio proved it with their own example, implementing innovative solutions that not only save time but also optimize team operations.

How Kukuruza Video Production Combines Creativity and Efficiency in Their Work

Kukuruza Video Production is a Ukrainian company that creates animated content and videos for customers from all over the world. The company's clients include both big brands and local businesses. For example, they have worked with such well-known companies as Porsche, Lenovo, NEOLUX, Rozetka, and others.

In 2022, the team faced new challenges: large amounts of information required an integrated approach. Data on potential customers, active projects, budgets, milestones - all this needed to be structured for effective management.

This solution was implemented by the Ukrainian integrator CRMiUM, which combined all workflows into a single, unique ERP system. The process of customer acquisition and order fulfilment is now tracked holistically in the CRM, Notion and Finmap applications.

A logical question arises: if you already have CRM and project management, what is the need to use Finmap?

Integrations as an Effective Automation Tool

One of the key changes was the introduction of banking integrations, which allowed us to synchronise all payment systems in one programme. This has significantly reduced the time required to enter transactions manually, as now any movement of funds, especially receipts from customers, are immediately reflected in Finmap.

This information is automatically transferred to the CRM system, and from there to Notion, signalling to managers that they are ready to launch new projects.

One of my rules for sustainable development is to have the courage to experiment, take risks, and try new approaches. Don't be afraid to go beyond the standards. - Oleksandra Kulykova, CEO of Kukuruza Video Production

In her work, Oleksandra strives for innovation, while in finance she takes a pragmatic approach. Even when it comes to risky financial decisions, Finmap tools, such as the Payment Calendar forecast, help her understand how justified such a decision will be.

Delegation and Flexible Access: The Key to Process Optimisation

American motivational psychologist Brian Tracy notes in his book Delegation and Management:

If someone can do a task 70% as well as you can, delegate it to that person. Free yourself up to tackle the tasks that only you can do.

This advice is relevant for all areas of business, and is especially important for financial accounting. After all, business owners often spend too much time and energy on routine payment processing.

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Oleksandra and her team avoided this problem by using a flexible access system for each of their employees.

We created an account for each manager and gave them access only to the projects they are involved in. This is very convenient, because employees do not have access to fundamental information and focus only on the workflow for which they are responsible. - Oleksandra Kulykova, CEO of Kukuruza Video Production

‍This approach allows you to:

• Protect confidential information.
• Quickly analyse accountable funds.
• Monitor the status of accounts in real time.
  

Even contractors have access to only the necessary part of the data to set up a CRM system, without diving into financial information.

How the Projects Report Helps to Quickly Analyse Profitability

Each payment, whether it is automatically integrated through banking systems or added manually by the manager, is immediately recorded in the Projects report.

Thanks to the automatic calculation of project profitability, the company is able to analyse all orders in real time.

How does this help the business?

1. Transparency to customers.
   The company can reasonably explain how additional services or concessions affect the final profitability. This ensures trust and transparency in customer relations.
2. Promptness of decisions.
   The team sees the financial status of each project in real time, which helps to make strategic decisions faster.
3. Management of additional services.
   Changes that are not included in the contract are instantly reflected in the report, allowing you to respond and adjust your work in time.

Kukuruza Video Production's experience proves that each area of activity requires specialised tools that automate and simplify processes. Whether it's off-the-shelf ERP systems or customised solutions, it's up to you. But without a clear financial structure, success is impossible.

Choose Finmap as your reliable partner and focus your resources on developing and scaling your business. Technologies work for you - use them to their fullest potential!

Modern business faces numerous challenges that often require innovative solutions for success. When entrepreneurs launch new ventures or projects, financial management becomes critically important to ensure the stability and growth of the company.

In this context, the experience of Anita Solovei and her financial director Bohdan Puzansky is particularly interesting. With the help of Finmap, they successfully implemented a systematic financial management process. In this case study, we will examine in detail how Finmap helped address the challenges posed by business expansion and how significant results in financial management were achieved.

Key Business Projects of Anita Solovei

Anita Solovei is an entrepreneur who manages several businesses across various fields:

1. Instagram page Be My Guest, which specializes in short-term apartment rentals in Kyiv, allowing tourists and business people to stay in comfortable apartments for short periods.
2. Instagram hotel Live.Here.Hotel offers guests comfortable rooms and an individual approach to each client, highlighting style and atmosphere.
3. Online camp "The Path of the Orange Blogger" is a project offering educational courses for bloggers and those who want to develop their online presence.
4. Instagram page Blog of Anita Solovei, a personal blog where Anita shares her experiences, ideas, and advice with her followers.

Anita Solovei actively develops these projects, combining traditional and innovative approaches, which requires efficient financial management and precise accounting.

Challenges faced by the business

As Anita's business grew and the number of directions increased, Bohdan Puzansky, the financial director, faced numerous difficulties. Initially, financial accounting was conducted using Excel. However, with the expansion of projects that cover both offline directions (real estate rentals, mini-hotel) and online activities (educational programs, Instagram blog), this approach became inefficient. Managing expenses was especially problematic, as funds were often withdrawn from personal cards, leading to data confusion and complicating financial analysis.

Before the pandemic, the business was actively engaged in short-term property rentals, managing 60 apartments, which required daily accounting of large volumes of income and expenses. The pandemic forced a re-evaluation of priorities, with the focus shifting to the blog and info products, which increased the number of directions and complicated accounting for the 20-person team.

Project Specifics

Anita Solovei and her team manage several businesses, each with its own characteristics:

1. Be My Guest Apartment Rentals
   Short-term apartment rentals require constant tracking of income and expenses, which change daily. The need for accurate accounting of each transaction is critically important to determine the profitability of each apartment.
2. Live.Here.Hotel
   The hotel business requires not only financial management but also client service, which complicates accounting. Expenses may include staff wages, maintenance, and other operational costs.
3. Online Courses
   Running online courses requires systematizing expenses for advertising, learning platforms, and other services related to the course.
4. Anita Solovei's Blog
   The blog also has its own expenses: content creation, promotion, technical maintenance, etc.

With the appearance of several directions, there was a need to simplify the process, as managing Excel spreadsheets began to take up too much time. The large amount of data made it difficult to understand what was really happening in the business.

Therefore, Finmap was tasked with the following:

• Systematize accounting to see the overall picture of the business and data for each direction separately.
• Simplify accounting and spend less time on it.
• Make the data visual, so that at any moment, the financial picture of the business could be quickly understood without spending time on analysis.

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Establishing New Financial Principles

Bohdan immediately decided not to create several companies in the service but to manage accounting in one, dividing it into Projects. After all, the company is essentially one. There is a general bank account from which money is distributed across different directions. Therefore, it was more convenient to create several projects within one company to see:

• how much money the business has overall;
• how financial flows are distributed;
• which direction is working well and which is not.

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At the first implementation of Finmap 1.0, each apartment in the short-term rental business was made a separate project. There ended up being 70 projects. On the one hand, this helped track the profitability of each apartment.

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On the other hand, such a number of projects complicated accounting, as expenses were often shared. For example, the purchase of towels, bed linen, and cleaning supplies. There was one expense, but it had to be distributed across 70 projects. Therefore, the first use of Finmap was quite challenging.

Evolution of Management Strategies

With the start of the pandemic, the demand for short-term rentals significantly decreased. Anita and Bohdan noticed that business efficiency had dropped, although time expenses remained high. The decision was made to rent most of the apartments for long-term leases and abandon part of the real estate. The main focus shifted to educational courses and the blog.

Now, Bohdan manages 7 projects in Finmap instead of 70. All apartments were combined into one project, as most of them are rented for the long term, and the data doesn’t change much from month to month. However, thanks to the ability to divide one payment across several projects, they can effectively manage the finances for each apartment individually. Tags are used for detailed accounting, which allows for a quick view of the information on each property.

Categories and Payment Calendar

Bohdan actively uses the Categories functionality in Finmap to clearly allocate expenses and income among different aspects of the business. This functionality allows him to easily structure financial flows, separating payments related to real estate management, educational projects, and the blog. Thanks to this, Bohdan can see not only the overall picture but also analyze each business direction in detail.

Categories help him quickly identify where financial performance changes are occurring, enabling him to respond promptly and adjust strategies. This is particularly important as financial flows can vary greatly for each of his projects: real estate has stable long-term income, while educational courses and the blog may experience more dynamic changes due to seasonality or market demand. Thanks to such financial organization, Bohdan finds it easier to manage the business and make well-informed decisions quickly. He also uses the Payment Calendar to plan income and expenses, which helps track cash inflows and avoid liquidity gaps.

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It is very convenient to label them with categories and track how much money is being spent where. This also helps to notice when some variable expenses become fixed, so they can be planned in the Payment Calendar for future reference.

In the Payment Calendar of Finmap, you can plan Income and Expenses. Moreover, if you add future expenses or receipts, the Payment Calendar will show whether there will be enough money or if there’s a risk of a cash gap.

How to Simplify Financial Accounting: Bohdan’s Lifehacks for Effective Financial Management‍

Financial accounting can seem like a daunting task, especially when projects and expenses accumulate. However, Bohdan shares practical lifehacks that can help streamline finances and avoid unnecessary stress:

• Enter information daily. But if that’s not possible, at least make notes; otherwise, things are forgotten even by the evening of the same day.

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• Connect accounts and cards in Finmap so that transactions are entered automatically.

• If you have several projects or directions, but the same employees work in them, it’s better to separate salaries from projects and make them a separate category of expenses. For example, if you have a hotel, a blog, and a course, but the same marketer handles social media for all of them. 
• If this is not done, it’s difficult to allocate each salary to all projects. And tying it to just one direction is wrong because one project would bear the costs for all.
• Don’t hesitate to reach out to Finmap's support team.

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Transparency and Control: The Results of Using Finmap in Anita Solovei's Business

The implementation of Finmap allowed Anita Solovei and her team to systematize their financial accounting, combining all the data in one place. Now, it is convenient to track both the overall financial status of the business and the indicators of individual projects. Thanks to automation and transparent reports, financial control has become much simpler, and expenses—more understandable.

• Financial accounting for all 7 projects of Anita Solovei has been systematized. Now all the data is in one place. It’s convenient to view both information about the financial state of the entire business and individually for each project.
• At any moment, Bohdan can check how much money is in each account and on each card. He no longer needs to log into the personal accounts of each bank separately. Plus, it’s immediately clear how much money on the card belongs to the business. This is especially convenient when there are cards that are used for both business and personal needs.
• Now, Bohdan and Anita know exactly what expenses the business can afford. Finmap has information about planned expenses and how much money is currently in the accounts. It’s easy to assess what will remain at the end of the month and whether they can spend on something extra.
• Now, small expenses are accounted for, such as bank fees, which were previously not tracked because the amounts were insignificant. However, over a month or a year, they accumulate into large costs.
• Reports no longer need to be made manually—the Finmap program performs the analysis on its own. Now anyone who needs to can access and view the entire picture of the company. And thanks to the clarity of the reports, even those who don’t understand much about finance can see what’s happening in the business.
• Accounting has become simpler. Now, less time is spent entering information and analyzing it.

Watch the full episode of "If Only I'd Known Earlier" with Anita Solovei and find out:

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• What questions every entrepreneur should answer.
• How Finmap helped her avoid the theft of $4,000 and 20 sets of bed linen.
• What Anita wishes she had "known earlier" about finances and business management

^{*The interview was recorded before the full-scale invasion by the russian federation. Currently, the participants in the video communicate exclusively in Ukrainian.}

Bohdan Puzansky, the financial director, and entrepreneur Anita Solovei were able to successfully solve their financial management issues by implementing the Finmap system. This program allowed them to organize their accounting, simplify financial processes, and achieve significant results in controlling expenses and income. Finmap helped Anita Solovei and her team focus on business development and implementing new ideas, ensuring stability and transparency in financial processes.

Thanks to the systematization of financial data and convenient tools for financial management, Anita Solovei's companies can now effectively plan and control their expenses, ensuring stable financial growth.

Proper financial management is a tool to not only make business transparent and efficient in the long term, but also to save resources. Why it is necessary to improve financial management even in a profitable company, read in this article.

LIBERT Is a Leader in Premium Transportation

LIBERT - company specializes in individual premium and business class transportation, offering a wide range of services to its customers. Their portfolio includes transportation of official delegations, mass transport events, as well as international transportation.

The key advantage of LIBERT is the highest level of service, with attention to every detail and maximum consideration of the client's wishes. Key aspects that ensure a solid reputation include:‍

• ‍An individual approach to the route, taking into account all the client's requirements.‍
• Armored cars for maximum security.‍
• Speed and efficiency of transportation organization.‍
• High level of service and availability of English-speaking drivers.‍
• Full support of the trip with the organization of the necessary reservations and security.

The LIBERT company achieved success thanks to the scrupulous and responsible approach of its owner. Andriy Antonenko is attentive not only to customer service, but also to the organization of internal processes. A special emphasis on financial management helps the company to effectively manage finances, control costs and grow confidently.

Spreadsheets vs. Business: Why Manual Accounting Doesn't Work Anymore

Andriy started his business in 2008. He refused to conduct affairs blindly, without a clear understanding of how much money was spent and what payments were made.

For digitalization of business, the company used self-made spreadsheets all these years.‍

I studied financial literacy on my own. Order isimportant to me, especially in finance, so I immediately trained my subordinates to a clear reporting system. Andriy Antonenko, owner of LIBERT

When financial management was kept on a monthly basis, the functionality of the tables seemed to be sufficient. But when at the end of the year more than twelve tables had to be compiled and a report issued, the time and nerves spent only burdened the owner. Over time, the tables multiplied, and although they provided a lot of information, it seemed impossible to qualitatively analyse and systematize them.

The next challenge was that at some point the control of the reports and the validation of all the formulas changed for the daily business of the owner.

If in the evening you do not check everything against the tables and do not additionally list all the results, or you miss a mistake somewhere, then tomorrow it will be impossible to untangle this tangle of data! Andriy Antonenko, owner of LIBERT 

Such checks took not only time, but also the resources of the owner himself, who should have dealt with more global issues. Successful organization of financial management became impossible due to a number of reasons:

• Attempts to implement a CRM system did not give the desired results, because they did not cover even half of the company's business requests.
• Working in tables took too much time and didn't allow to quickly obtain complete information.
• The operations manager had a high workload, and reworked the norm of working hours.
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How Finmap Changed the Approach to LIBERT Company Financial Management

Andriy learned about the Finmap service from a financial specialist who was putting his contractor's financial management in order. The financier organized the data using Finmap, and the speed of generating reports was impressive.

I decided to try Finmap as well. The system issimple and everything is clear. And the online meeting with the support consultant made it possible to customize the service exactly to my business format. Andrii Antonenko, owner of LIBERT

Monitoring the Operation of Cars

In Finmap, it is convenient to track the results of the operation of the machines that Andrii started as projects. The system shows how much was spent on servicing each car and how much money was earned.

You can analyse revenue by car class and determine the most profitable or least profitable cars. In the service, it is possible to detail data also by type of services and even by individual clients.

Control of receivables

In the LIBERT business model, the main indicator is not the amount of funds received from the client, but the number of services provided. Payments are usually made after the fact, at the end of the month, and accounting for all services and related expenses must be online.

The manager enters the issued invoices into the service in the form of Accounts Receivable, indicating the period when transport services were provided and the date when they are expected to be settled.

The owner only has to open the Debtor report in Finmap and check:

• Who has already paid
• Who has delayed payment and needs additional reminders
• What new invoices were issued

The Profit report helps to analyse this information from a different angle. After all, even in the first graph, the amount and the term for which the funds have not been paid are immediately visible.

Such easy and at the same time detailed control of Receivables became possible only in Finmap, as self-made tables required constant expansion, modification and reconciliation of formulas.

How Finmap Replaced an Additional Operations Manager and Saved the Owner More Than $8,000 Per Year

Before the introduction of the service, the manager was engaged in cost accounting and entered them manually into the table. At the same time, when the drivers made expenses, they immediately wrote about it in the work chat, which was constantly filled with more and more new messages. 

It was quite easy to lose important information in such a flow.

The communication process regarding accountable funds was long and confusing:

Such a process was carried out with each driver, of whom there were about 20 at that time. The workload was increasing, and the owner had already started the search for an additional operations manager.

How Finmap Optimized the Process of Working With Management Money

For convenience, drivers have been added as Users. For each of them, a separate account was created and access was granted only to it. These accounts show the funds available to the driver.

— Drivers independently pay expenses, attach checks, specify details and choose a project.

— Drivers independently add cash transactions to their accounts, with the corresponding settlement of the client.

Now the owner sees in real time:‍

• ‍how much money was spent;‍
• what needs were the funds used for;‍
• balance on the driver's balance;
• whether the settlement was in cash;
• whether expenses did not go beyond the budget.

So, Andriy can now quickly compensate the driver for the spent funds, decide whether additional finances are needed, and does not waste time on clarifying the payment.

Such an innovation reduced the workload of the manager several times, and the need for additional personnel disappeared.

 And now a little math (as of 09/20/2024):

1. As the website Work.UA notes, the average salary of an operations manager in Ukraine is $750
2. So, in one year, Andriy had to pay $8 780.
3. An annual subscription to Finmap costs $432.

 Savings: 8 780 - 432 = 8 348

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Finmap gives you control and order.

Try it — 7 days for free.

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With the help of Finmap, drivers were also able to monitor the balance on their account at the fuel company, which allowed:

• To the owner —control the fuel consumption of each driver.
• To the drivers —promptly provide information on fuel limits.
• To the manager —manage general and individual fuel limits.

Finally, honest and transparent relationships are being built with my entire team, which is one of the keys to success for me. It is important that everything is enough for everyone, then the work of the drivers will be comfortable and the level of our service will only grow. Andrii Antonenko, owner of LIBERT

Prospects for Further Cooperation Between Finmap and LIBERT

Easy implementation and use, coverage of most of the company's cases and optimization of business processes became the basis for strong and long-term cooperation with Finmap for Andrii.

I didn't even know if there were any similar programs or competitors to Finmap. And why, if this system completely satisfies me? It would be good for our business to be able not only to issue invoices in Finmap, but also to provide certificates of completed works. So we hope that we will wait for such innovations as well. Andrii Antonenko, owner of LIBERT

Now, the reports generated automatically in the service provide the owner with comprehensive information about the state of his business. Finally, financial management became not a burden, but a convenient tool for the strategic and tactical development of the company.

 Introduce Finmap and learn all the details of the financial status of your business. Optimize, save and grow with Finmap!

Automation of business processes is critical for the competitiveness of companies today. Implementing optimisation systems can significantly reduce the time spent on data processing, reduce the likelihood of human errors, and enable employees to focus on strategic tasks.

As the importance of this topic is constantly growing, we suggest you consider the main benefits of automation. In this article, we'll explain how platform integration ensures full automation of data transfer and share real-life examples of its use.

Benefits of Implementing Automation

Implementing automation in business processes has a number of important advantages. They have a direct impact on the efficiency, productivity, and development of an enterprise, regardless of its field of activity.
The most tangible benefits:

• Saving time and resources. Automation reduces the amount of manual work, freeing up time for priority tasks. By delegating routine to software algorithms, employees can focus on strategic tasks.
• Reduced errors. Manual data entry is always accompanied by the risk of errors. Automation reduces it, ensuring the accuracy and reliability of tasks.
• Increased efficiency. Automation of processes helps to respond more quickly to changes and customer requests and complete tasks faster. All this increases business productivity.
• Optimisation of workflows. Integration of different systems and platforms allows you to create more coherent workflows and effective interaction between departments and teams.
• Improved customer service. Automated processes make it possible to process customer requests quickly and efficiently. This increases customer satisfaction and loyalty to your business.
• Scalability. By implementing automation, you can easily scale your business processes without investing heavily in additional resources or staff. This is especially important for fast-growing companies.
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Use of Online Connectors

Today, many different services are used to effectively automate business processes. Online connectors are one of the most advanced solutions.

These tools are used to integrate different platforms in order to maximise the transfer of work processes to the ‘automatic’ mode. They provide a simple and efficient connection between services and constant data exchange 24/7.

Let us consider how an online connector works using the example of ApiX-Drive. First, the user defines the data source, which can be any online service: CRM system, email, advertising account, etc.

After that, they select the receiver where the data will be transferred (for example, to a database, marketing platform, or other online tool). The ability to customise each integration in detail to meet the specific needs of the user makes ApiX-Drive stand out from other services. The final step is to specify the data update interval.

Advantages of ApiX-Drive:

1. Ease of use: no programming skills required; quick setup of integrations thanks to an intuitive interface.
2. Versatility: a large catalogue of systems and services that allows you to find solutions for automating a wide range of work processes.
3. Automation: the elimination of manual data entry and errors that occur due to inattention or haste.
4. Customisation: the ability to use filters, IF/Else logic, the AI TOOLS module, and other functions to customise the integration for specific tasks.
5. Support and scalability: ongoing technical support and flexibility to scale workflow automation to meet new needs.
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Integration of Finmap and KeyCRM

Integration of the KeyCRM platform with the Finmap helps automate business processes, improve cash management, and control over financial performance. Here are a few examples of use cases for this integration:

• Automation of financial reports. Every time a new order is added to KeyCRM or an existing order is updated, information about it is automatically transferred to Finmap. Thus, all orders are automatically reflected in financial reports. This simplifies the reporting process and allows you to get accurate revenue information faster.
• Control over expenses and income. Whenever KeyCRM receives new payments from customers or data on project costs, this information is automatically transferred to Finmap, where records of income and expenses are created. This ensures operational monitoring of financial flows, which helps to better control costs, compare them with expected revenues, and avoid financial problems.
• Analysis of the effectiveness of campaigns. Data on the revenue generated by each marketing campaign is automatically transferred from KeyCRM to Finmap. This allows you to analyse which campaigns are the most effective in terms of financial performance. This integration allows you to quickly assess the profitability of each campaign and optimise your marketing budget based on real financial data.
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Integration of Finmap and Google Sheets

The integration of Google Sheets and Finmap is useful for businesses that need to automate financial data and reporting. Google Sheets in such a tandem can serve as a flexible tool for collecting and storing data, and Finmap as a specialised tool for financial management.

Here are some real-life case studies where this integration will bring significant benefits:

• Automatic tracking of receipts from clients. Example: A freelancer or small business uses Google Sheets to keep a list of clients and their income, and Finmap to manage their cash flow. Every time an entrepreneur receives a payment from a client, they enter the information into Google Sheets. Thanks to the integration, this information is automatically transferred to Finmap, where it is recorded as a receipt.
• Recording transfers and expenses for marketing campaigns. Example: a marketing agency uses Google Sheets to keep track of advertising and marketing campaign expenses, and Finmap to process this financial data. It enters all the data on expenses (amount, date, supplier) in Google Sheets. The integration automatically transfers them to Finmap, where they are recorded as expenses.
• Budget monitoring. Example: a family budget or the budget of a small organisation is kept in Google Sheets, and financial transactions are processed in Finmap. Data on monthly expenses, receipts, and transfers are entered into Google Sheets for storage purposes. The integration automatically exports this data to Finmap for further accounting and detailed analysis.
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The results

Workflow automation is one of the most effective ways to optimise the modern business environment. It helps companies increase productivity, reduce costs, and scale their operations.

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The introduction of online connectors such as ApiX-Drive greatly facilitates the integration of applications used in work and, consequently, process automation. This allows businesses to respond to changes faster and improve the quality and efficiency of their operations.

The positive effect is observed in both internal (interaction between employees) and external (interaction with customers) processes. As a result, businesses can quickly adapt to changing market conditions and strengthen their competitiveness.

And if you are interested in learning how to organise your business finances and see all the money and profit in clear graphs on one screen, Finmap specialists will be happy to help you.