DCS Covenant Manager℠
DCS Covenant Manager℠ assigns covenant checklist-based questionnaires to key finance and business stakeholders, allowing an organization to open a new quarter, make adjustments for changes in respondents, and manage laggards. As a result, internal controls more easily maintains the integrity of the compliance process quarter-to-quarter. That’s good for business.
Jeff Wallace explains how DCS Covenant Manager℠ benefits treasury and makes the process smoother and more accurate.
Jim Simpson weighs in on the benefits of an automated debt compliance system.
DCS Questionnaire Manager℠ Features
- Web questionnaires based on the covenant checklist are assigned to key finance and business stakeholders at HQ Finance, other HQ departments, and the business units
- Substantial reporting capabilities allows easy validation and evaluation of responses:
- Questions with Multiple Answers
- Issue Resolution Report lists all covenant issues and how they are resolved or will be managed
- Two Quarter Issue Comparison report on how covenant issues differ between quarters
- Easy process to open new quarter, make adjustments for changes in respondents, and manage laggards
- Internal controls keeping the integrity of the compliance process quarter-to-quarter
|DCS Questionnaire Manager℠||In-House Quarterly Compliance Reviews|
|Questions are written based upon the comprehensive checklist and then allocated in web questionnaire modules for respondents designated as most knowledge about those covenants multipart covenants have a questionnaire drafted for each part||Without a comprehensive covenant checklist, it is impossible to ascertain all of the issues and covenant breaches|
|All reporting is assigned to subject matter experts and answered on a real-time basis, which quickly identifies any potential issues||Quarterly compliance reviews often the respondents must review the underlying covenant and these determine if they are in compliance|
|The CFO Exception report on the resolution of the various issues provides an audit trail, which supports the signing of the quarterly certificate||Some companies prepare a paper questionnaire, and circulate it among some people within the company and all responses must be manually compiled|
|The CFO Exception report on the resolution of the various issues provides an audit trail, which supports the signing of the quarterly certificate||Many companies review compliance with covenants among a handful of people by “flipping pages” and relying on their knowledge of the events over the past quarter|
|All responses and resolutions are saved on the website, allowing for quarter-to-quarter researching of issues||Some companies use an online survey tool such as Survey Monkey to distribute and collect the responses. The responses are analyzed manually and an exception report may or may not be generated. All responses must be downloaded and saved to the hard drive|