Business process automation and modernization

Business process automation and modernisation

⸻ Services

Professional coordination of business process automation and modernisation 

Rapidly evolving technologies, growing amounts of data and increasing pace are driving businesses to modernise and digitalise their internal processes. Because the choice of business management systems is huge and internal processes are very complex, it is easy to get lost or trapped in a process modernisation project without even moving to the implementation phase.  

We have an extensive experience in implementing complex business management process modernisation projects, which include not only the integration of many tools and applications, the integration of RPA and AI, but also the unification of different business processes and their efficiency. Therefore, we are an excellent coordinator of change, delving into the specifics of business and activities, clarifying and understanding the needs of interested business units and external parties, and being able to integrate them into a maximally automated system that works harmoniously. 

Save time and money by intelligently automating business processes 

As the business grows, so does the need for business process administration, but unfortunately, when purchasing individual solutions for process automation, the process as an integral whole is forgotten. Therefore, sometimes having many systems does not mean that the processes in the company operating at their maximum efficiency. We can evaluate their effectiveness and identify what is missing so that these systems work even more smoothly with each other and do not require human intervention.

Obviously, the implementation of automated processes is significantly simpler and faster when the company is just starting up, or feels that change is necessary due to the increasing time required for business process administration.

As a rule, most of these processes are at least partly related to accounting, so we have a lot of experience in digitising the administration of personnel documents (staff requests, employment contracts, their modifications, etc.), integrating time and accounting into one system, transferring purchases and sales processes into a modern system, etc.

We will handle

  • Process analysis and identification of efficiency potential
  • Proposing and consulting alternatives to existing tools available on the market
  • Identifying the need for systems integration
  • Formulation of tasks for programmers
  • Planning, coordinating and advising on the change process and budget

Example of a PowerBI report 

  • Overview – analysis of the company’s general indicators, comparison with previous periods and budget
  • Effectiveness – analysis of specific company indicators
  • Revenue – revenue analysis, comparison with previous periods
  • Expenses – expense analysis, comparison with previous periods
  • Revenue & Expenses changes – a detailed comparison of revenue and expenses with previous periods
  • Balance – detailed balance
  • Profit & Loss – profit and loss statement, comparison with previous periods
  • Budget – budget planning, comparison with the real situation and previous periods
  • Budget detail – detail budget planning, comparison with the real situation and previous periods
  • Cash overview – analysis of cash flows from previous periods
  • Cash In/Out by Month and by type – detailed analysis of cash flows from previous periods by expense types
  • Customer analysis – customer analysis, customer solvency history
  • Accounts receivable overview – an overview/summary of receivables
  • Receivable details – detailed analysis/statistics of receivables
  • Overdue by invoice date – detailed debt analysis by periods
  • Debt/sales by year, months
  • Overdue by manager – detailed debt analysis by managers
  • Open accounts payable – details of unpaid invoices
  • Sales detail – detailed sales overview by months and customers
  • Sales changes – sales detail/comparison by service/product groups
  • Services profitability – Profitability report by service/product group by months
  • Profitability by Manager – profitability report/analysis by managers/customers
  • Employees – analysis of employee dismissal/employment
  • Payroll – details of employees’ salaries, a report of all other benefits received
  • Movement of stocks – movement of warehouse goods, profitability
  • Stock balance – detailed stock overview
  • Fixed Assets – breakdown of fixed assets by asset groups
 Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice. 

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⸻ Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice.

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⸻ Clients

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Business analytics

Business analytics

⸻ Services

PowerBI business analytics for smart business management 

Business analytics with PowerBI allows medium-sized and large businesses to monitor their performance in real time and make informed business decisions. It allows to conveniently (even on your phone) monitor sales volumes, finances, inventory levels, customer profitability, balance of arrears or other data in the sections required by the company.  

We have experience in refining the need for business analytics, implementing customised configurations, and developing data-driven insights and recommendations for business improvement. 

The value of PowerBI for business 

In business, decisions are often made with flair because the analysis of the data they require takes a lot of time. As a result, the risk of business decisions increases, and real performance gaps that limit development potential often go unnoticed. PowerBI tool helps to comprehensively monitor the company’s progress, increase operational efficiency and reduce the risk of decisions.

Analytics will help to

  • Systematise the work of the company
  • Reduce operating costs
  • Save working capital Increase operational efficiency
  • Easily plan for future cash flows
  • Easily calculate the profitability of services or goods sold
  • See the return on investment projects Increase business profitability
  • Save time on data collection and analysis
  • Adapt the monitoring of data indicators according to the responsibilities of employees, thus reducing the flow of redundant information and making their work more efficient
  • Objectively assess the current situation

PowerBI tool video presentation

Content of report  

  • Overview – analysis of the company’s general indicators, comparison with previous periods and budget 
  • Effectiveness – analysis of specific company indicators 
  • Revenue – revenue analysis, comparison with previous periods 
  • Expenses – expense analysis, comparison with previous periods 
  • Revenue & Expenses changes – a detailed comparison of revenue and expenses with previous periods 
  • Balance – detailed balance 
  • Profit & Loss – profit and loss statement, comparison with previous periods 
  • Budget – budget planning, comparison with the real situation and previous periods 
  • Budget detail – detail budget planning, comparison with the real situation and previous periods 
  • Cash overview – analysis of cash flows from previous periods 
  • Cash In/Out by Month and by type – detailed analysis of cash flows from previous periods by expense types 
  • Customer analysis – customer analysis, customer solvency history 
  • Accounts receivable overview – an overview/summary of receivables 
  • Receivable details – detailed analysis/statistics of receivables 
  • Overdue by invoice date – detailed debt analysis by periods Debt/sales by year, months 
  • Overdue by manager – detailed debt analysis by managers 
  • Open accounts payable – details of unpaid invoices 
  • Sales detail – detailed sales overview by months and customers 
  • Sales changes – sales detail/comparison by service/product groups 
  • Services profitability – Profitability report by service/product group by months 
  • Profitability by Manager – profitability report/analysis by managers/customers 
  • Employees – analysis of employee dismissal/employment 
  • Payroll – details of employees’ salaries, a report of all other benefits received 
  • Movement of stocks – movement of warehouse goods, profitability 
  • Stock balance – detailed stock overview 
  • Fixed Assets – breakdown of fixed assets by asset groups 
⸻ Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice.

Explore
⸻ Clients

Lithuanian business and innovation leaders trust us  


Law and Fees

Law and Fees

⸻ Services

Legal services for businesses and individuals 

Accounting and finance are inseparable from legal and tax issues, therefore we provide the necessary legal assistance to businesses and individuals on various issues in Lithuanian, Russian and English. 

This includes consulting on tax law, managing obsolete debts, and establishing and representing companies in court. 

We will help you find your way through the labyrinths of tax law 

Tax law is an integral part of business. Many face tax challenges and find it difficult to find solutions to confusing, ever-changing legislation on their own. Our team of experienced lawyers will help you find your way through these labyrinths of tax law, represent your interests in the institutions and prepare the necessary documents.

We will handle

  • Registration of companies in the VAT register
  • Representation during tax inspections
  • Advising on double taxation and tax optimisation
  • Advising on declarations of assets and income
  • Representation in disputes with SoDra and the State Tax Inspectorate
  • Optimisation of the tax administration process

Obsolete debt management will help you recover what you have earned 

Obsolete debt often poses serious financial challenges. Recovering what you earn requires not only perseverance and negotiation skills, but also legal knowledge, which is why BNM Finance provides this service with the help of our experienced team of lawyers. Our experienced specialists will ensure that these sensitive issues are communicated to your customers in a diplomatic and respectful manner.

We will handle

  • Debtor solvency check and assessment of recovery perspective
  • Preparation and administration of creditor claims (promissory note, surety agreement, debt offsetting agreement, debt payment schedule, etc.)
  • Legal debt recovery: preparation of claims and representation in court
  • Advising on pre-trial and judicial debt collection and debt enforcement issues

Company establishment by starting or expanding a business 

If you have decided to expand by opening another company or are planning to start a business for the first time, we can help you with all the legal issues of starting a business and prepare the documents necessary for launching a business. We have done this many times, so we can fully coordinate the entire business start-up process from registering a name to opening a bank account, thus saving you time and ensuring that the process goes smoothly.

We will handle

  • Business start-up consultancy
  • Company name registration
  • Providing a company registration address Preparation and coordination of incorporation documents with relevant institutions
  • Company registration in the Register of Legal Entities Representation in opening bank accounts
  • Representation in a notary public office and/or State Enterprise Centre of Registers
  • Registration of companies in the VAT register

Legal resolution of conflicts 

Once there is a conflict, it is important to end it without losses. We know the law well and understand the business interests, so we can offer you the path that would be the most advantageous for you. Therefore, in dealing with legal issues, we are committed to reliably defending your interests in pre-trial authorities and courts, representing you in state or municipal institutions and other organisations, performing quality work and ensuring the confidentiality of the process.

We will handle

  • Advice on choosing the most favourable way of resolving disputes in court proceedings
  • Development of a dispute strategy
  • Preparation of claims, statements, applications and other procedural documents
  • Representation of a company in bankruptcy and restructuring proceedings
  • Enforcement of judgements

Smooth company liquidation process 

If you have to liquidate the company and do not know where to start – BNM Finance specialists are here to help you. We provide professional legal assistance and business advice on all issues related to the liquidation and deregistration of companies. Our experience and consistent practice will ensure smooth processes.

We will handle

  • Advising on company liquidation issues
  • Deregistration of a company or other legal entity
  • Preparation and coordination of liquidation documents with relevant institutions
  • Representation in disputes with the tax administrator or in other stages of the company’s liquidation
  • Public announcement about the liquidation of the company
 Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice. 

All team
⸻ Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice.

Explore
⸻ Clients

Lithuanian business and innovation leaders trust us  


Debt management

Debt management

⸻ Services

Comprehensive debt management

39% of companies in Lithuania experience late payments (Norstat, 2020), which hinders the development of your business, you cannot hire new employees and settle accounts with the existing ones, you cannot make payments to your suppliers and cannot pay taxes to the state. 

Our experience shows that this problem is less relevant for companies that actively and systematically remind defaulters of late payments. 

This can be solved by automating the monitoring of your outstanding debts, regularly administering debts and contacting your customers regarding their arrears, as well as engaging the help of lawyers for the administration of obsolete debts.  

By entrusting unpleasant issues to our specialists who administer the process on a business-like basis, you will maintain a good personal relationship with your customers and avoid awkward situations. 

Automation of processes will balance your cash flows 

By automating debt monitoring, you will balance your cash flows and avoid obsolete debt. This will allow you to grow at a faster rate and reduce the business risk of your operations. Using and integrating tools running in the intended course will save a lot of time.

We will handle

  • Reconciliation of accounting processes
  • Systems integration or process automation using tools or programming
  • Development of standard debt reminder letter templates
  • Process prediction and algorithm preparation in the IT system
  • Automated system testing and commissioning

Debt administration will ensure the discipline of financial flows 

Entrusting debt management to an external partner will ensure that sales revenue reaches your account on time. We will coordinate all actions with you and only act with your consent, so you can be sure that you will not lose control of the situation. Our experienced specialists will ensure that any mistakes are corrected, misunderstandings are resolved smoothly, and these sensitive issues are communicated to your customers diplomatically and respectfully.

We will handle

  • Entry of bank statements and submission of the list of debtors to the head, and coordination of further actions
  • Sending the first reminder to the approved list of recipients
  • Sending the second reminder to the approved list of recipients
  • Personal contact with the debtor company on behalf of the customer after sending the reminder
  • Resolving misunderstandings: resending invoices, searching for missing invoices, reconciling discrepancies, correcting account deficiencies, and reconciling payment deferrals
  • Sending customised payment requests to the approved list of recipients
  • Reminders by e-mail and by telephone to debtors with a call to make the payment

Obsolete debt management will help you recover what you have earned  

Obsolete debt often poses serious financial challenges. Recovering what you earn requires not only perseverance and negotiation skills, but also legal knowledge, which is why BNM Finance provides this service with the help of our experienced team of lawyers. Our experienced specialists will ensure that these sensitive issues are communicated to your customers in a diplomatic and respectful manner.

We will handle

  • Debtor solvency check and assessment of recovery perspective
  • Preparation and administration of creditor claims (promissory note, surety agreement, debt offsetting agreement, debt payment schedule, etc.)
  • Legal debt recovery: preparation of claims and representation in court
  • Advising on pre-trial and judicial debt collection and debt enforcement issues
⸻ Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice.

Explore
⸻ Clients

Lithuanian business and innovation leaders trust us  


Financial manager services

Financial manager services

⸻ Services

Financial Manager for professional financial management of a company 

Every entrepreneur strives for his finances to be managed in a transparent and methodical manner, pursuant to the highest standards, and the profitability of ongoing projects to e controlled and costs constantly optimised. This guarantees the financial success of business that the financial manager usually stands responsible for.  

 

We offer a permanent financial manager hire service for smaller companies that would find it inefficient to hire an experienced professional for this job. Meanwhile, for larger companies, the core value will be the broader approach and experience of a financial manager, regardless of whether the business needs ongoing or short-term expert assistance. 

BNM Finance financial managers have many years of experience in large local and international companies in a wide variety of business sectors. Our experts are well aware of the differences between the financial management of typical companies or start-ups, and can accurately identify risks to ensure that they are managed in a timely manner. 

External financial manager hire 

We provide an experienced financial management hiring service for temporary or permanent supervision of business finances. This ensures that the business development is financially balanced and the risks assumed are adequate. For this reason, the financial manager actively participates in the formulation of the company’s financial policy, the company’s planning and day-to-day operations, analyses performance and provides capital management proposals.

The scope of services depends on the individual needs of each customer. The appointed external financial manager is directly accountable to the top management of the company.

Financial manager shall: 

  • Establish criteria for financial indicators, form their overview, allowing managers to objectively assess the results of business operations
  • Monitor and analyse the company’s performance and forecast possible scenarios
  • Participate in the company’s board meetings, strategic and tactical planning, advising on financial issues and anticipating risks
  • Participate in the preparation of budgets and maintain them on a regular basis
  • Advise on working capital and risk management issues, select funding sources and control the distribution of funds
  • Evaluate the payback of development and investment projects
  • Coordinate the work of the accounting department, participates in the development and implementation of accounting forms and methods
  • Provide managers and individual divisions with the necessary financial and operational efficiency information from the company’s databases
  • Represent the company in external financial institutions (banks, insurance, investment companies)
⸻ Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice.

Explore

Accounting services

Accounting services

⸻ Services

Integrated accounting services 

Our team of experienced professionals provides comprehensive accounting services applying years of experience and time-tested processes. As soon as we get started, we will create your accounting process to ensure more discipline in your company’s financial management. With your consent, we transfer data to secure and easily accessible IT systems. 

 

Sometimes accounting issues are more complex than it seems at first glance, so we will use our financial management team or legal experts as needed to ensure maximum quality. 

The accounting services provided by BNM Finance range from the formulation of accounting policies to payroll accounting and the preparation and submission of all mandatory activity-related declarations and financial statements to the company’s management and supervisory authorities. A wide range of BNM Finance services allows businesses to avoid non-core costs of recruitment and maintaining qualifications, and acquisition of accounting software licenses. The competence of the specialists ensures the quality and peace of mind during tax inspections, and the large team ensures that the services are provided on a continuous basis. 

Chief accountant services when higher competence is required 

Some companies have their own accounting department, but it needs external professional oversight. Our experience shows that proper organisation of work does not always require a full-time accountant, so in order to make optimal use of the company’s financial resources, it is often more efficient to entrust it to an external team of professionals.

We will handle 

  • Internal audit of accounting and elimination of accounting deficiencies  
  • Participation in the formation of accounting policy, preparation of accounting plans  
  • Control of the register of primary operations, verification of the data entered by the accountant  
  • Methodological assistance to the employees of the company’s accounting departments  
  • Accurate and comprehensive information of accounting staff on tax changes 

Payroll accounting is adapted to the customer’s business model 

As the business expands and the number of employees grows, the accounting of every company inevitably faces the challenges of calculating wages. Our experience shows that proper organisation of work does not require a full-time wage accountant, so it is often more efficient to entrust it to an external team of professionals.

We will handle 

  • Calculation of wages
  • Preparation of payment data 
  • Sending payroll sheets to employees 
  • Leave reserve accounting 
  • Accounting and declaration of taxes related to wages 

Prompt management of neglected accounting 

The reasons for neglected accounting can be very different, so we evaluate each company individually. The most common reasons are insufficient qualifications of the accountant, incorrect management of accounting, high turnover of staff or wilful negligence. Our work includes identifying the real situation, correcting deficiencies and developing a new accounting policy based on good practice. We do this very quickly because we understand the threats it poses to your business.

We will handle

  • Internal audit of accounting (registered transactions, documents, declarations)  
  • Identification of the reasons for neglected accounting 
  • Elimination of discrepancies and adjustment of statements 
  • Development of accounting policy 

For those seeking further cooperation, we offer extremely favourable rates for the management of neglected accounting.  

 

 Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice. 

All team
⸻ Team

Meet our experts 

We are BNM Finance, a team of dedicated experts who work together on a daily basis to provide our customers with the best financial accounting advice.

Explore
⸻ Clients

Lithuanian business and innovation leaders trust us