Why Asset Writer

AssetWriter, the Premier Field Examination Software
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WHAT IS AssetWriter?

AssetWriter is a stand-alone Windows® based software program for Asset Based Lending field exams, due diligence, and business analysis. The program addresses the shortcomings of electronic spreadsheets, the costs of in-house systems, the flexibility needs of due diligence and budget restraints.

WHY BUILD AssetWriter?

Borrower's are smarter and lenders have learned that mistakes can be costly. In the 1990's, better field examination tools are needed to help offset these risks.

While portfolios have grown, some field examination staffs have remained at the same size levels of the early 1990's. The pressure grows, but management wants things done in less time, while controlling costs. Expanding deal loads, new business, and hard to complete field examinations add to the stress.

Staff turnover, rising salaries and heavy deal loads have made matters worse. Some lenders have outsourced their field examinations, only to find high report costs and less than desired content. The remaining staff continues to get burned-out from too much work. Can the report product be streamlined?

We studied the areas that waste time and created a program that saves time, improves outsourcing, frees-up staff time and brings field examination reports into the next century. AssetWriter uses no spreadsheets, it is a stand-alone program. Some key reasons to consider AssetWriter:

TIME IS MONEY:

Field examiners spend days taking- down numbers, but what do the numbers mean? AssetWriter frees up time by formatting reports and bringing results to the surface, thus allowing users to see changes and investigate areas of concern.

Reports can be combined instantly for any combination of multiple divisions. With AssetWriter simply select the divisions to combine and reports to print from check-boxes. Have multiple examiners for one exam? No problem, our import screens allow users to combine an entire exam or any selected tests or selected writeup sections.

Data from AssetReader can be imported directly into AssetWriter for even greater time savings. The automated accuracy of reading-in aging reports can now be applied to a state-of-the-art field examination package. A duel force in the fight for time savings.

Printing can be done by division, consolidated companies or both division and consolidated reports. AssetWriter allows all reports to be printed in user selected batches, not one report at a time.

Printed word processing reports can include any of the data summaries created from the testing. For example, the printed report can include the top concentrations, delinquency testing, A/R turnover, dilution summary, credit memo analysis, summary of billing test results, cash testing results, etc. in any order desired.

Spreadsheets waste time with a fidget factor from changing formatting. Repetitive adjustments to column widths, switching to landscape or portrait mode, reprinting, and changing report headings, increases the office report preparation time. AssetWriter automatically prints only columns with numbers, and landscape or compressed landscape as needed.

Complex tests are time consuming. For example, a credit memo test can include explanations that must be summarized, with the mix of reasons applied to the population, added to other dilution and then dilution must be recalculated again. AssetWriter summarizes user defined reason codes instantly. Examiners save hours and improve report accuracy.

Setup of multiple location exams requires careful planning and can make spreadsheets hard to use for complex companies. Programmed spreadsheets can be created, but this adds to the fidget factor. AssetWriter was designed to allow flexible setups of single or multiple divisions. Average setup time is under two minutes per division

Borrowing base calculations with spreadsheets can be difficult from multiple ineligible items and divisions. AssetWriter calculates ineligibles by division, using the most streamlined and powerful interface ever developed.

Spreadsheets are flexible, what about AssetWriter? From plan templates to multiple divisions, AssetWriter is flexible, fast and can handle most Asset Based Lending situations. Settings are available for the way you do calculations.

Trends become a blur as the years of data grow. AssetWriter allows a sea of numbers to be seen with graphs. Data can be graphed by month, with linear regression used where possible.

As spreadsheets evolve over time, they require data to be rekeyed into the updated models, since format changes will not include the older data. AssetWriter uses a database, allowing core program changes to update the existing database.

Complex spreadsheets are prone to errors and can be hard to maintain. Spreadsheets require extra hours of time to check math, align consolidations, change formulas, fix formatting, and proofread reports. AssetWriter is highly flexible, yet the math, analysis, graphs, and consolidations remain accurate, consistent and instant.

Programming can be: limited by budget constraints, time consuming, difficult to support and may become obsolete in under two years. Custom systems can be slow or may be too simple to do consolidations and advanced features are often too costly to implement. AssetWriter includes over 4,500+ hours of programming, expert help files, FinSoft's support and constant enhancements at no additional cost. Our constant updates and improvements leave you with a state-of-the-art system, not a wish list caused by budget or IS Department time constraints.

Asset Based Lending systems require a commitment to program, enhance, train and support. This support could include a computer savvy field exam guru to help the programmer learn ABL business rules. What happens when the programmer and the guru leave? Why do so many lenders use outside software sources for back-office operations? AssetWriter is employee-owned by FinSoft, LLC, with senior programmers and a leading ABL consultant. Support is from the people that wrote the program and industry insiders.

"How Much Time Can You Save Today?"

Thank you for your valuable time and interest in AssetWriter
Joe Caplan, Managing Director
Don Brookes, Director of Software Engineering
phone (410) 747-7994 E-mail us: