A modular application, ECON Pro includes:
Financial analysis
Financial planning
Expense (break-even)
analysis
Capital investment
acquisition
Capital investment financing
Decision analysis
Financial mathematics
Managerial statistics
Market strategy
Database (marketing)
Database(personnel)
Ranking of employees
Allocating of employees
Categories of employees
Creating the teams
Geneticsim
This module performs a traditional financial analysis based on financial accounting norms. As such it includes the effects of non-cash expenses such as depreciation and amortization and thus allows managers to evaluate their company in the same manner that the financial markets evaluate their company. Also, for this reason, it is likewise useful for investors and lenders.
The financial analysis module contains, as a default, an extensive set of financial statements (the English version uses US GAAP as a default, though an IAS add-in is available) and over 70 indicators. It also contains an instructional help file, which explains the various indicators and what each is supposed to measure. These features combine to make it ideal for a manager new to western style financial management or a novice financial analyst. In addition, each bi-lingual version also includes the other nation's standard financial statements and a conversion bridge to the GAAP statements in English version.
Finally, for the expert user, the module is fully expandable. It allows the user to expand the input schedules to include as much detail as is needed. Likewise it enables the user to customize the analysis and assess company according to an unlimited number of financial criteria. Thus, it can be used to evaluate any organization, regardless of size or complexity.
Finacial planning
This module serves two functions. As a
control tool, it looks at financial analysis
from the point of view of sources and uses of funds. By removing
the effects of non-cash items, such as depreciation and amortization, it
allows the manager to zero in on the one criteria that matters most: cash
flow. Likewise, it allows investors and lenders to evaluate a company's
cash flow, providing a clearer view of its performance.
As a planning and budgeting tool, it contains an extensive default sources and uses of funds table (which can, of course, be expanded and adjusted to any size company or department). In addition, it includes an instructional help file, which not only explains what a financial forecast or budget is supposed to accomplish but also how to create one, and over 50 popular indicators, which allow the financial impact of the budget to be analyzed in minute detail. This last feature is especially important in developing economies, where the lack of financial planning skills is endemic.
Expense analysis
This module provides the manager with a powerful
expense evaluation model based on micro-economic break-even analysis.
While, in its basic form, break-even analysis is quite simple and can be
modeled on a spreadsheet, as the number of products grows, and as product
lines expand, and as inputs multiply, the simple model becomes more and
more complex; until it eventually becomes overwhelming.
By automating most of the process, the expense analysis module allows the decision maker to focus on the most important issues: the targets -- maximized profits, or maximized turnover, or minimized expenses, etc.
Finally, since many limiting factors exist in the real world, this module allows the decision maker to take into account such things as legacy products, warrantee obligations, maximum production, minimum employment, etc.
Capital investment
acquisition
This module allows the manger to evaluate a capital
investment from the perspective of future cash flows. This evaluation
can be performed on the basis of net present value, or internal rate of
return, or a profitability index. Its utility can be further expanded
by integrating it with the financial planning
and expense analysis modules.
This analysis, though primarily used by industrial companies to evaluate property plant and equipment acquisitions, is also ideal for investors or banks.
Capital investment financing
This module, like the capital
investment module, looks at the net present value impact of an investment.
But while that module focuses on the return provided by the investment,
this module focuses on the financing of that investment.
To arrive at a optimal solution, it looks at the three major forms of financing: self-finance, borrow and buying, and lease. In arriving at the lease/buy, borrow/self-finance recommendation, it takes into consideration cash flow, tax and inflation implications, as well as either economic or accounting opportunity cost.
Decision analysis
This module contains several decision making
tools. In addition to standard queuing and inventory models, it contains
a multiple criteria with risk model. Then, for the really tough questions,
it can perform a Monte Carlo simulation. These features combine to
make the decision analysis module ideal for constructing scenarios thereby
allowing the decision maker ask and answer that all important question:
"What if?"
Finally this module can accept both subjective and objective data, and can collate and weight data from several sources. This way it can be used in an interdisciplinary and/or multicultural environment where heterogeneous teams must reach decisions.
Finacial mathematics
This module includes all the popular functions,
net present value, depreciation, IRR, etc. In addition, it also takes
detailed look at loans. This last feature is especially important
in continental Europe and developing economies where the prevalence of
bank financing has lead to a plethora of creative loan structures.
Statistics
This module includes all the popular statistical
functions: descriptive statistics, indexes, simple and multiple regression
and correlation, and trend analysis. It also takes the next step,
fully integrating with the financial analysis
and financial planning modules, to make
applying statistical methods to financial data simple.
Market strategy
Since any market is a dynamic and complex system,
the entry of a new product or competitor can have unexpected effects.
The market strategy module models these effects using two powerful mathematical
techniques: Monte Carlo simulation and game theory. Using these tools,
marketing the professional can evaluate the impact a new product will likely
have on the market, on competitors, as well as on his or her own company.
To do so, this module looks at a product in all its complexity, from the cost to develop and manufacture, to the cost to market and sell, to the likely reaction of the market and competitors, and how these combine to affect the product's and finally company's profitability.
Database(marketing)
A data base of customers, distributors and suppliers
is the foundation on which an successful marketing strategy must be built.
This data base module is designed to be both easy to use and extensive.
Also it can be linked with a company's existing data base so that no re-entry
of data is necessary.
Database(personnel)
The database module is suitable for creating the summary of your current
employees or the one's form the past or the new prospective candidates
. The database ranks itself among specialized databases, that means the
user has already defined structures and functions, priory to use, but with
wide choice of editing so he/she doesn't have to create the new database
with each new file. You can fill the database from outer programs ( e.g.
wages ). You can use even more databases at once, which might be
very handy especially for consultancy , advisory and employment services.
Database enables to create any queries and professional approach to dealing with it's processing, creating new conditions and key words for finding the data including mathematical operations, which secures clear view of the results and making easier for example comparing knowledge and abilities of your employees.
Ranking of employees
This module is based on multi-criteria analysis. The method of criteria
analysis is generally used in an environment with insufficient or inadequate
information. It's used both for selecting the best option (employee) ,
and eliminating the worst. The program enables you to use the database
of employees and insert as many criteria as you wish. You can assign the
weight ( importance ) to each criterion (pair comparison or Saaty┤s method)
and by doing so you can put stress to the knowledge, skills or characteristic
of each employee.
For the evaluation is possible to use the opinion of more than one individual (work group evaluation) but also by assigning the weights set the value of opinion of the person who is evaluating. By this is possible to make clear difference between the opinion of the direct superior and the rest of the assessors.
Allocating of employees
Allocating of employees is based on the special case of distribution
problem - allocating problem.
The module is dealing with allocating of employees, that means positioning or displacing the employees to certain posts. These posts are described by some certain requirements, which you can define yourself. These requirements might be not only criteria by which the employee is evaluated but also some filters, fulfilling of which is enabling the possibility of placing the employee to some certain post ( e.g. age, education, years of practice etc. ).
The result is the best possible allocation of all workers into all posts which are available. Progress of optimalization you can see on graphic animation.
Categories of employees
For the classification of employees we are using mathematical-statistic
method cluster analysis. The best use for this method is for creating the
scheme of organization tree, change of organization structure or creating
the categories of employees. With help of cluster analysis is possible
to find the optimum or exactly given number of categories. It is also possible
to create the category in compliance with the core of the "cluster"
, for example the managers and their workers.
Generated "clusters" are graphically displayed with clearly seen three-dimensional relations among the objects.
Creating the teams
Under the term of the team we understand number of workers, for whom
is possible to work together and as a team they work more effectively than
each member of the team separately. Some features might be the same
, some different. The solution of this problems based on the mathematic
method, which has been created especially for these purposes - level of
excentricity of the object, where the object is each individual worker.
This method selecting the workers to team in accordance with the requirements
given and it works also with different importance of each attribute. That
helps the user to create the team exactly as he/she needs it.
GeneticSim
A module that works on the basis of genetic algorithms. It is designed
for finding solutions and optimalization of systems, which can be described
and defined by any number of parameters or interrelations. Those relations
can be either linear or nonlinear.
The GeneticSim module is used in various fields and branches. The most
common use is in financial modeling, in mathematics for finding solutions
to linear and nonlinear equations, in fields of optimalization of industrial
processes and other systems, which can be defined by a set of parameters
and their interrelations.