Digital assets are all the things generated and stored digitally, can be identified and found, and provides value. The popularity and value ​​of these assets have increased as technology has become more prevalent in people’s lives. Entrepreneurs who work with an asset specialist need to know they can use a digital tool for business efficiency and control through a private label platform. Such a tool supports entrepreneurs in making the right decisions in the context of the company's financial position through a simple and digitally accessible financial reporting solution.

Talk to an Asset Specialist for More Information

Digital assets have evolved beyond the text, images, videos, music, and documents that people typically associate with the term "digital asset" to the financial market.  Proprietary digital assets include data, photos, videos, textual materials, and more, and an asset specialist can explain everything about this topic. Like a company's brand, most digital products can be given a value, whether intangible or monetary. Some digital things, like a family phone photo, might only have value to one person. Did you know that previously, companies owned and used digital assets, such as data or scanned documents, to generate value?

A Private Label Platform Can Help Businesses a Lot

Over the years, specialists have evaluated the financial situation and commercial risks of thousands of companies of different sizes and complexity of activity, as well as all sectors of activity, from the position of financial director, consultant, or risk analyst. Many entrepreneurs could have created favorable conditions for their business or even avoided critical situations if they had access to a clear picture of the company's financial situation. In the current conditions, which help entrepreneurs most often remain at the discourse level, a private label platform can be a support solution. This simple and accessible financial reporting tool offers real help to local businesses.

Such a platform is addressed to all those interested in a company: shareholders, management, suppliers, customers, financiers, and banks, regardless of their level of financial preparation. The platform has potential applicability to any accounting system. It provides information according to the highest standards of professional financial reporting but has the advantage of a much-reduced cost level through automation compared to classic reporting solutions. With the help of such a platform, entrepreneurs and all those interested in the evolution of a company can answer questions that concern them constantly or better understand which are the right questions, especially in a challenging economic context.

Active Digital Evolution

A digital asset must first be able to produce value by being used in a way that adds value to the owner to qualify as an asset. The digital asset should be able to transfer ownership through a purchase, gift, or other method of granting rights to someone else and the value it can add. In addition, the information must be able to be found or kept in a location where it can be located. There is a wide range of digital assets that an asset specialist can explain to you, such as pictures, documents, video clips, online gaming accounts, illustrations, animations, manuscripts, music, books, and social media accounts.

These are the classic digital assets, but recently, new ones have emerged. For example, tokens, cryptocurrencies, and security tokens. People's lives are more dependent on digital technology than ever before. For example, instead of traveling to a library and hoping they have the resources they need, they turn to digital content because it's faster and easier. Most of their vital documents, vacation pictures, and forms of entertainment are digital. Data and information are held and stored by companies and governments, each with a distinct value depending on how it will be used.

Whatever You Do, You're Surrounded by Digital Assets

Many ask themselves why a private label platform is essential for their business. The answer is that by implementing the internal financial reporting function of such a platform, entrepreneurs identify how they can improve their business: evaluating the revenue structure, keeping expenses under control, evaluating the balance sheet structure (available resources and liabilities), streamlining the cash conversion cycle and correctly sizing trade credit and the banking one. They can analyze the soundness of their own company and better recognize the leverage they have at their disposal to obtain support from suppliers or banks in case of need.

The information on such a platform is clear, recent, and updated at the end of each monthly accounting closing. As part of financial reporting, platform users also benefit from an evaluation and alert system on the company's financial vulnerabilities. Everything is presented in graphic form to easily follow the evolution of the economic indicators, including their interpretation so that various users can capitalize on the information. Entrepreneurs have permanent access to the overall financial picture of the company, as well as the possibility to access essential information to exercise a correct financial monitoring function.

Ask for All the Information You Need

The platform also brings entrepreneurs several benefits superior to the existing external reporting systems on the market:

• the availability of information immediately after the accounting records are made, compared to other reporting solutions that provide information six months late and only after the closing of the statutory financial statements;
• the ability to customize and adapt reporting according to users' analysis needs;
• the possibility of analyzing monthly variations by presenting the information in monthly series;
• access to clear and detailed information, including intermediate data verification steps, as a result of the use of primary raw accounting data - records on each transaction.

Another important thing is the permanent alerting of the user, through an alert system integrated into the platform, on the company's sensitive areas – payment capacity, financial stability, and cash flow quality. The alerts are structured and detailed and draw attention to the evolution of the economic situation with each monthly data update. Such a platform can support all entrepreneurs, regardless of the field, the level of financial preparation, or the stage of the business. They can help you, the same as an asset specialist does, with optimal solutions that will make their business more efficient and at a reasonable price.

A private label platform is sure as those creating it have years of individual experience in financial analysis, consultancy, and credit risk management, respectively, as software development, accumulated within multinational companies and in the entrepreneurial environment. Through the financial reporting solution within a platform, the company undertakes the mission of providing entrepreneurs and all supporters of domestic companies with transparency, visibility, and understanding of their financial situation to improve efficiency and adopt the best decisions.