Firmway | Balance Confirmation

Digitising the confirmation process

Types of confirmation

Balance Confirmation

Trade receivables, trade payables, loans, advance, deposit etc.

Transaction Confirmation

Transactions such as sale, purchase, payment, receipts etc. with other business entities including related parties.

Bank Balance

Bank balances in current, overdraft, loans, fixed deposit, investment, etc. can be confirmed through the portal.

MSME Status Confirmation

Statutory compliance of disclosure norms of transaction with Micro, small and medium enterprises.

Upload

By Business Entity

Authorise

By Auditor

3 Click Response

By Confirmer

One stop dashboard

Reconciliation Platform

Firmway gives you additional benefits

Verified Confirmer

Firmway verifies all the parties involved in the process including their authorised personnel thus increasing the authenticity and legal validity of the confirmation.
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Increase Response Rate

Rationalized process of confirmation mitigates the risk of non – delivery to the authorised person (which currently hampers the process in 30% of the cases) and thus escalating the response rate.

Saves Cost

Apart from eliminating courier and stationary expenses associated with the conventional method, man-days involved in the process are drastically reduced.

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Reduce debtor collection cycle

Timely follow ups with appropriate person ensures improved debtor collection cycle.

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Economical Loans

Response from authorized user of verified entities increases the legal validity of confirmation.

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Increase Compliance to standard

With its digitized methodology of obtaining confirmations Firmway increases the accuracy and reliability of confirmations, thus ensuring better compliance to auditing standards

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Find out how we simplify for you

Business Entity

Auditor

Confirming party

CA Jay Savla (Director – Product Management)

Chartered Accountant with 4+ years of experience in financial services profession. He has worked with Mahajan & Aibara, a firm specialised in Internal Audits & Risk Consulting. He possesses in-depth knowledge of the business processes. His technical understanding of the product helps in serving exact needs of the client. He defines the ‘why’, ‘what,’ and ‘when’ of the product.

Fanil Zakhariya (Director – Operations)

Fanil comes with 5+ years of experience in Statutory Audit, Risk Consulting & Internal Audits. He has handled audit of MNCs and few listed companies. He is pursuing CA & MBA in Business Management. With his business & professional experience he handles Firmway Operations.

Krupal Solanki Chief Technology Officer

Krupal is a zealous IT expert who is spearheading the technology of Firmway. An alumni of Symbiosis, he comes with an innate knowledge of technology. Krupal has worked upon various stacks like big data, cloud computing, and web technologies. After a challenging stint with the startup BlazeClan, which honed his raw talent, he started his own venture and has been an integral part of Firmway since it’s inception.

CA Vivek Chandan (CO- founder)

Vivek is a practicing Chartered Accountant. He has 5+ years of experience in field of Auditing & Assurance and has worked with KPMG. He has experienced execution of audits for large corporates. He is well acquainted with the nuances and difficulties associated with the process of obtaining confirmations.