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BUSINESS FINANCIAL MANAGEMENT
Taking the complexity out of business finance
BFM
© Strands Inc. 2016
Ω
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1 VALUE PROPOSITION
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BFM: THE NEW WAY OF BANKING FOR SMEsThe comprehensive digital banking solution for managing business financials in a more simple, efficient and engaging way.
1. BFM VALUE PROPOSITION
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No way to track or forecast cash flow, AR/AP
Too many different tools to manage day-to-day tasks
Dispersed, unintelligible financial data
Prohibitive costs to professional financial management services
40% need advice to run business more effectively
and plan growth
70% have no relationship with a bank manager
Manual invoicing
1 2 3
5
4
6 7 8
42% would switch to a bank or Fintech that
shows an understanding of their business
Source: IFC, World Bank
PAIN POINTS OF THE “MISSING MIDDLE”
Corporate Banking Retail BankingSMEs
“There is an alarming disconnect between what small businesses want and what banks deliver.”
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1 . RECONCILIATION
Business owners can balance the books
easily and painlessly so they are never in
the red
Automatic and accurate forecasting helps SMEs
gain peace of mind while taking full control over their business direction
2. FORECASTING
Generates relevant and actionable insights
enabling business owners to take their business to
new heights
3. INSIGHTS
Provides helpful advice specific to the user’s
actual business activities
4. RECOMMENDATIONS
BFM USER JOURNEY
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WITH BFM SMEs GET:
Smarter business decision making based on relevant, personalized insights powered by Big Data analytics
Flexibility for businesses at all stages, from startups to established companies to better understand and manage their finances
Real-time access to all financial accounts powered by Strands Meta-Aggregation engine
Simple, intuitive and stunning data visualizations for an unparalleled user experience
1. BFM VALUE PROPOSITION
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DESIGNED FOR 3 SEGMENTS1. BFM VALUE PROPOSITION
Business Name: Pale Design Name: Jonah Pale Age: 33 Years in business: 1 Sector/Industry: Prof.Services Turnover p.a. : $78k Employees: self-employed
Business Name: Chicdress SL Name: Chloé Pierrot Age: 42 Years in business: 8 Sector/Industry: Retail Turnover p.a. : $2.5M Employees: 20
Business Name: Games Corp Name: Sanjay Singh Age: 37 Years in business: 15 Sector/Industry: Software Turnover p.a. : $25M Employees: 110
FREELANCER SMALL COMPANY MEDIUM COMPANY
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3 PRODUCT FEATURES
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3. BFM PRODUCT FEATURES
FUNCTIONALITY OVERVIEW
Track Analyze Plan
Income & Expenses Budgets
Financial Calendar Smart Notifications
Cash FlowTransactions
Business Benchmark
Invoicing Provisioning
Customer Insights
Data Aggregation
Dashboard
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Dashboard Get a 360º view of business finances
Frictionless UI with colourful data visualizations deliver an instant snapshot of how your SME customer’s business is doing
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TransactionsManage and customize transactions
Instead of a static list, transactions become actionable through search, filter, edit and split functions
Track
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E-InvoicingTake full control over your payment cycle
Makes AR/AP management effortless and enables banks to handle end-to-end payment cycles for SME customers
Track
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Financial CalendarVisually monitor your financial commitments
An interactive heat map shows daily, monthly and yearly spending patterns
Track
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Periodic Payments Track recurring payments
Payment performance is trackable and enables proactive anticipation of any repayment issues
Track
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Smart Notifications Always stay informed
Track
Personalized, behavior-based triggers deliver relevant, actionable messages in real time
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Income & ExpensesBring transparency and clarity to your financial data
Enables users to visualize expense categories and income sources over a defined date range through a frictionless, intuitive UI
Analyze
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Cash FlowReview & forecast incoming and outgoing cash flow
Your SME customers can analyze and understand cashflow by tracking historic, actual and forecasted inflows & outflows
Analyze
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SMEs can better understand who their customers, how often do they buy, create segments and more
Customer Insights Retailers can analyze their customer behavior
Analyze
Optional for retailers
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Users can obtain a holistic, data-driven picture of the competitive landscape with the anonymous comparison tool
Business BenchmarkBenchmark your business against similar ones
Analyze
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Plan
Users can create monthly budgets to monitor and track all their business expenses. They can also drill down into each budget to view the purchase history
BudgetsKeep your business expenses under control
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Plan
Custom thresholds allow business financial goals to be met faster and more intelligently
Provisioning Realize your business growth goals
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External Data AggregationHolistic overview of all relevant financial information
Strands enables external data aggregation by pulling together accounts from different banks and retrieving invoicing and accounting data from ERPs.
Different accounts can be aggregated - business accounts, corporate credit cards, investment accounts, etc. - into a single place providing holistic overview of business finances.
PSD 2Banks Cards APIs
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3 BUSINESS CASE
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THE PAYOFF FOR THE BANK
Higher customer satisfaction, higher rates of customer retention, and higher revenues per customer
Empower your most lucrative segment: SME deposits are 4x greater and balances are 15x higher than retail banking customers
Understand your customers’ specific needs to offer relevant products & services at exactly the right time
Reduced operating costs: Process automation means more resources to add higher-value advisory
3. BFM BUSINESS CASE
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THE WAY TO GENERATE NEW REVENUE FOR BANKS Offer SMEs value-added services
3. BFM BUSINESS CASE
Did you know?
More than half of SMEs are willing to pay an additional $10 every month for personalized business financial management services
Banks (in the UK) could open up to £8.5 billion in new revenue streams by 2020 by delivering value-add products and services to SMEs
If banks are unable to address SME pain points, 1/3 will turn to non-banks to make payments, access loans, and manage transactions.
£8.5 BILLION
+10$
1/3
Source: Accenture “SME Banking 2020”, Aite Group
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BANKS ARE PREFERRED FOR EASE & SECURITY Compared to non-bank technology providers, SMEs value solutions provided by their bank
Cat
egor
y Ax
is
Ease: I enjoy the convenience of accessing all of my banking products at a single location
Security: I trust that my bank has done the necessary due diligence on the vendor/technology
Relationship-based pricing: the more products I use at the bank, the deeper the discounts I receive
Other
Value Axis0 0,15 0,3 0,45 0,6
3 %
37 %
58 %
59 %Ease:
Security:
Relationship-based pricing:
Source: Aite Group
3. BFM BUSINESS CASE
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WIN-WIN FOR ALL STAKEHOLDERS Relieves pain points & generates value for SMEs and banks:
BUSINESS OBJECTIVES
Relieve 7 major SME pain points: (1) cost-efficient, affordable solution offered by the bank
(2) intuitive visualizations of all financial data in one place
(3) data-driven cash flow tracking & forecasting
(4) smart invoicing and AR/AP tracking
(5) direct engagement with SME banking professionals
(6) dashboard for 360° overview of finances
(7) one-stop-shop for personalized financial advice
Reliable, safe and secure solution
SME BANKS
BUSINESS OBJECTIVES
Meet digital banking expectations: bank manager becomes the ideal business partner
Increase SME retention & acquisition: by understanding their specific needs better
Generate direct revenue stream: business customers are ready to pay for such services because it’s a “need” rather a “want”
3. BFM BUSINESS CASE
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BECOME THE GO-TO BUSINESS PARTNER FOR SMES Enable your customers to centralize all their business finances
3. BFM BUSINESS CASE
BFM
Bank 1 Bank 2 Bank 3
3rd party accounting software
Lending platforms
ERP
Any external data source…
Bank accounts
Credit/Debit Cards
Invoices
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3. BFM BUSINESS CASE
BFM
Bank 1 Bank 2 Bank 3
3rd party accounting software
Lending platforms
ERP
Any external data source…
Bank accounts
Credit/Debit Cards
InvoicesUS
BECOME THE GO-TO BUSINESS PARTNER FOR SMES Enable your customers to centralize all their business finances
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