For management, XTRF™ constitutes a tool for exercising day-to-day control over the work, results and financial indices of the company.

When seeking ways of improving the work of the company’s management board, it is worth answering the following questions:

• Does the management board and proprietor of the translation office have immediate access to the current basic analyses of the company’s operations (e.g. turnover, profit, project profitability and co-operation with individual clients)? How do they gain access to such analyses? 
• How does the office elaborate analyses and reports for the meetings of the management board, and discussions with banks or leasing companies? 
• How frequently does the management work outside the company, taking part in conferences or business trips? Does the management have access to the processes currently taking place in the company?
• How can the management obtain data regarding the efficiency of the employees’ work or the promptness of the execution of tasks (e.g. number of projects handled, profitability, profit generated, and number of complaints filed by customers)?
• How are invoices generated? How are payments and payment delays monitored? How much time does it take to send reminders concerning invoice payments? Does the company apply individual terms and conditions of settlement for different clients?
• Does the company analyse future financial flows? Is the company able to anticipate periods of decreased financial liquidity? How does the company plan investments or the taking up of credits?

Advantages of the XTRF™ system for the management and financial department

• Remote access to the company: While away on a business trip, attending a meeting with a client or working remotely from a home or hotel, management is guaranteed easy and rapid access to practically all of the information about the company. The technology applied – enabling work through an Internet browser – ensures that the company can be managed from any location in the world, while the management board has unlimited flexibility both in terms of work time and data accessibility.

• Cash flow: The Cash Flow module is a tool that allows the management to safely and effectively plan financial flows, investments and crediting. Cash Flow always presents a current breakdown of the company’s planned expenses and revenues for successive weeks and months.

• Financial analyses: The financial analyses module is a tool that allows immediate access to information about the current situation of the company. A rapid analysis of the profits, profitability and turnover, broken down into individual clients or countries, or presented for the company as a whole, makes the appropriate assessment of the company’s condition and market trends possible. In turn, information about the efficiency of project managers’ work helps prepare for discussions with employees and take the requisite managerial decisions.

• Financial liquidity of the company: Apart from the above-mentioned Cash Flow tool, XTRF™ ensures the easy and precise control of invoices and overdue payments. A simple mechanism monitors all the overdue receivables and liabilities, and enables the automatic sending of reminders together with the full information regarding individual payments.