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CASE STUDY

Find out how Confiance Medical has been working with Accountfy to robustly and optimally reorganize its financial department

Raphael Assayag, CFO (Chief Financial Officer) at the company, explains how Accountfy has been a strategic partnership for his department

About Confiance Medical

Established in 2002, Confiance Medical markets equipment used in video surgery all over Brazil . Its activities began with maintenance of equipment employed for laparoscopic and endoscopic collaborative digestive surgery, and in 2007 started activities in R&D and manufacture of medical equipment.

The first equipment developed with own technology were halogen sources. In 2008, Confiance Medical was the first Brazilian company authorized by Anvisa to manufacture and market the xenon light source and micro processed CO2 insufflator used in video laparoscopy.. Later, high resolution cameras for medical images were produced.

 

Challenges for the reorganization and unification of financial information

Soon after joining Confiance Medical, Raphael Assayag observed that the company’s financial area was lacking a better structured organization of its financial information..

And, to address the issues above, the first challenges to be remedied were:

  • to optimize and simplify the emission of the FYIS (Fiscal Year Income Statement) and
  • to enhance visualization and follow-up of the company’s performance.

 

Organization of the financial information on the platform was just the first benefit

Confiance Medical is one of the oldest Accountfy clients and made a proposition to make an activity exchange.Accountfy’s functionalities available at the time already attended Assayag’s requirements and, in retribution, the company would contribute to Accountfy’s enhancement process..

With the FYIS, which had not been updated for many years, Raphael began to restructure the entire system by using Accountfy to organize and ensure increased safety of the company’s figures..

"I have an analyst in my team among whose goals is to reduce duplicity of reports by centralizing them on the Accountfy Platform."
Raphael Assayag – CFO at Confiance Medical

For being an industry, but also carrying out activities for resale, leasing, technical assistance and services, attending public and private areas, the company had a complex accounting system, which Accountfy helped to simplify and to guide the FYIS reorganization process..

 

Following up the company performance became intuitive and visual

Accountfy not only helped to simplify the FYIS structure and organization of the financial data, but also by providing increased visibility of the company’s financial health, fostering access by partners and the investor fund due to its facility..

With tools such as the Forecast and the Dashboards, with visual resources as graphs and indicators, it became much easier to monitor the budget – by comparing Realized X Forecast, involving multiple scenarios, besides production of reports for partners and the investor fund..

“One of the main gains we have with Accountfy, entailed by information unification on the Platform, is regarding the fast and customized access to the information. And there also the dashboards, which help a lot for ‘outsiders of the area’ to follow up on financial data”.
Raphael Assayag – CFO at Confiance Medical

The plan is to maximize Accountfy usage until the end of the year, concentrating the maximum data and processes possible on the platform.. This way, by finishing updates for the FYIS, which includes the individualized follow-up of each area’s figures, the platform will be able to manage such information without demanding additional time from the team. .

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