Covenant tracking requires finance teams to manually extract financial data, calculate complex ratios, and compare results against loan thresholds each month. Manual calculation and comparison create delays, formula errors, and risk of missed breaches.
Automation pulls financial data directly from accounting systems, calculates all covenant metrics automatically, and flags breaches instantly. Compliance reports generate and distribute themselves, with full audit trails maintained.
The full workflow, from trigger to completion.
Automation monitors the accounting system for month-end close completion and triggers the covenant review workflow.
Automation pulls the latest balance sheet and income statement directly or using API calls, extracting debt, equity, EBITDA, and interest expense.
Automation fetches covenant thresholds and calculation methods from a centralized covenant master file or document store.
Automation computes debt-to-equity, interest coverage, current ratio, and other covenant metrics using the extracted financial data and stored calculation rules.
Automation compares calculated ratios against thresholds and flags any breaches, near-misses, or waivers required.
Automation creates a formatted compliance summary with covenant status, breach details, and recommended actions, storing it and preparing it for distribution.
Automation sends an instant notification to the finance team with breach details and emails the full compliance report to stakeholders and lenders if required.
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