How Your Clients’ FP&A Software Can Make You a Better Banker

A man in a grey suit and glasses leans against a door frame smiling because he is happy his banking clients use Nue's FP&A Software

Bankers specializing in government contracting (GovCon) clientele already appreciate the importance of good data in a solid business relationship. From risk assessment to investment products, accurate information allows you to tailor services that address a company’s unique needs in the government marketplace.

An advanced suite of tools is now available to benefit you and your GovCon clients based on new levels of detail and accuracy. Nue’s cloud-based financial planning and analysis (FP&A) software—the only platform designed specifically for GovCons and other project-based companies—provides key business analytics, real-time forecasts, and unlimited scenario planning to keep you and your clients on the same (accurate) page when creating customized banking services.

7 REASONS WHY WHAT’S GOOD FOR A GOVCON IS GOOD FOR YOUR BANK

1. Financially Healthy Clients

FP&A software helps GovCons manage their finances more effectively in various ways, including forecasting revenues, controlling budgets, and analyzing costs. A GovCon can conduct project performance reporting and track project management inputs. The C-suite can leverage waterfall reporting for more informed decision-making. When your client has all the tools for a solid financial base, it reduces the risk of defaults on bank loans and other financial obligations.

2. Data Transparency and Accuracy

FP&A software provides accurate real-time financial data. This means your GovCon client can supply more reliable, up-to-date financial information that allows you to better assess creditworthiness and make lending decisions.

3. Lower Risk and Better Risk Assessments.

FP&A software allows your GovCon clients to better predict financial challenges early on and take corrective actions. This lowers your bank’s risk exposure in two ways: It reduces the likelihood that a GovCon will sink into financial hardship, and it gives you access to detailed reports generated by FP&A tools to make more thorough risk assessments.

4. More Efficient Loan Approval Process

Banks require financial reports as part of the loan application process. FP&A software helps GovCon clients provide timely, well-organized financial data, making the loan application and approval process smoother and faster.

5. Enhanced Business Opportunities

FP&A data can reveal opportunities for banks to offer more tailored financial products to GovCon clients. Based on this financial data, your bank can offer customized lines of credit, cash flow financing, or project-based loans that align with the client’s contract cycles and cash flow needs. If a GovCon is forecasting growth in certain areas, your bank can proactively offer services such as investment products and acquisition financing.

6. Compliance and Audit Readiness

FP&A software helps GovCons maintain compliance with government regulations, such as the Federal Acquisition Regulation (FAR) and Defense Contract Audit Agency (DCAA) standards. This reduces your bank’s risk of being affected by the complications of a client facing compliance issues or government penalties.

7. Internal Efficiencies: Extra Support When Needed

The extensive toolkit available from enterprise-wide FP&A software may well limit overhead for your GovCon clients and eliminate the need to hire extra FP&A expertise. If a company requires more expertise, it can outsource service support capabilities to Nue’s partner, CAVU Advisors.

To find out more about how Nue FP&A software can put your GovCon clients’ data to its most profitable use—and enhance your banking relationship—contact us for a free, no-obligation demonstration at your convenience.