FISCAL

Benefits:

The best part about the software is the ease of use. Since it is set up much like an Excel file, it is very easy to customize the charts to meet the needs of the Bank. Further, I really appreciate that the financial spreads can be exported into either a Word or Excel format. The export feature allows me to format the credit analysis report to meet the needs of loan committee, but also the Board of Directors and participating banks.

Drawbacks:

I would really like to see the Debt Coverage chart incorporated into the actual credit memo. For those loans that are not complex, coping the chart into the analysis isn't a problem However, when the borrower has several businesses and the global cash flow is extensive, coping the excel file into the analysis can present a formatting problem.

In sum:

While I wouldn't call it a problem, the initial software that the Bank was using was high-end and we only used about 5% of the program's capabilities. Further, there was a major learning curve involved in regard to formatting, which could take several hours or days to figure out formatting. With Fiscal we are using all of the program and they will do the initial formatting of the credit analysis report. A couple of phone conversations and the Bank had the format we wanted. Totally different experience from the prior program.

Benefits:

The ease in which the software is able to be utilized and the immediate functionality of it. I was looking for a financial spreading software that I could literally buy off the shelf and immediately put it to use. FISCAL did exactly that and much more. In addition, the support from FISCAL was the best I had seen and experienced before. Always accessible and always stayed with me via phone or email until my question was resolved.

Drawbacks:

The least thing I liked initially was having to set up a separate "entity" name when my borrower was an individual. Once I got the hang of it, it ceased to be any issue at all. With the updates to the software, this is not an issue any longer.

In sum:

We use FISCAL for all our financial spreads and analysis for underwriting our commercial loans. My experience with FISCAL has been extremely positive and for the money, it's the best!

Benefits:

This program is very easy to use and the customer support is very responsive and helpful.

Drawbacks:

As an admin it would be better if you could make behind the scene modifications without having to reach out to FISCAL as it is locked down.

In sum:

If you are looking for a spreading program without all the unneeded bells and whistles then FISCAL is perfect for the price.

Benefits:

It is easy to use, very reliable, and you can make it as detailed as you like.

Drawbacks:

The initial set-up can take some time but definitely worth the effort once it is complete.

In sum:

We decided to use Fiscal a while back and have really been impressed with the product and the staff support.

Benefits:

We like the support from the Fiscal team the most with this software. They are wonderful people, who literally always answer the phone when we call. But we are not calling to get help using the software on day to day spreads; instead we are always looking for ways to expand what the software can do for us, and the support team is always there to bounce ideas and solutions off of.

Drawbacks:

In the past we had some issues with global debt service calculations, but we've been able to work through this kink, and things work just fine for us now.

In sum:

For years, we used the software for our annual loan review only (spreading and tracking financial intel). In the past three years, we have used it as our primary work horse to assemble new loan credit packages and credit memos. We have been able to eliminate one-off spreadsheets, and create a consistency in look and feel that was not there before. We are very happy with the capabilities of the software.

Benefits:

- Platform interface is intuitive and easy for a new user or a more junior individual to learn, particularly true for the basic spreading and reporting functions. This is important so that new employees or junior analysts can quickly learn how to use the platform. - Allows for both personal and business spreads in one platform, and both spreading templates are intuitive to use. - Advanced functionality is also excellent: creating multiple spreads for one entity (which is useful when we receive multiple type of reporting quality, such as co-prep, tax returns, CPA-audited, etc.); being able to quickly create global spreads and DSCR analyses; being able to document adjustments in the system; real estate sensitivity is also simple to complete

Drawbacks:

- In my opinion, I think the system-generated reports can be enhanced aesthetically. - I have to click on multiple buttons to get to a report because pop-up windows keep arising such as "do you want to save your changes" and then "the grey letters will get cut off in printing" and then "do you want to select an RMA industry now" kind of messages every time. And they are the same pop-ups every time. - To export a report to PDF (which is our most common output format), there are multiple selections to be made. I believe the default is a .rpt format (which we never use).

In sum:

Our bank has had an excellent experience with FISCAL SPREADING. We feel that there is a lot of thoughtfulness in the user interface design. The platform feels simple, but it has ability to generate all the results that we need.

Benefits:

I have been using this software for many years now and it has made my job easier. I'm able to spread the financials and get my members an answer quickly on a loan request.

Drawbacks:

I love everything about this software. I did research before we purchased and it was recommended to me. I have been happy with the selection and have even added another user this year.

In sum:

The customer service is great with FISCAL. My representative will call/email to check on me and if there is anything we need or have questions on. If he is not available they are great to refer me to someone that can help me on the spot. They are an awesome group!!

Benefits:

Data entry is easy Ability to customize a credit memo to suit our needs Report design

Drawbacks:

Color Scheme? Could be a little more cheery or offer the ability to change themes. There are some hidden options available. You have to know they're there in order to use them. I wish we didn't have to download the RMA data each time. It would be really cool is was an automatic update.

In sum:

We are able to help our customer banks that lack the expertise to spread their customers.