TecFin & Partners (Tecnologia en Finanzas y Administración)

BACKGROUND

Introduce your business and what you do there.

I’m the CEO at a medical services company.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with TecFin & Partners?

We hired them to audit our business. At the time, we had an offer and needed a valuation to consider if the proposal was a good business for us. 

SOLUTION

What was the scope of their involvement?

We provided them with our financial, administrative, and accounting information and our plans for current and future projects. They used that to conduct the company’s valuation.

What is the team composition?

We worked directly with three people. 

How did you come to work with TecFin & Partners?

They were referred by a colleague that had worked with them before. We contacted them for an interview, and they presented a proposal that included a quotation and a work plan. Based on those, we decided they were a good fit for our needs and wanted to work on this project with them.

How much have you invested with them?

We spent less than $5,000.

What is the status of this engagement?

The project was completed between January–March 2020.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

We were satisfied with their work. We really liked the report they delivered, and the results matched our expectations. 

How did TecFin & Partners perform from a project management standpoint?

It was fine; they were very professional and discrete. They delivered everything on time. We had recurrent meetings in person, and we communicated via conference calls, emails, and phone calls.

What did you find most impressive about them?

It was their ability to meet all deadlines.

Are there any areas they could improve?

I honestly couldn’t say anything; we had a good experience.

BACKGROUND

Please describe your company and your position there.

I am the Chief Operating Officer in BBP Capital, S.A. de C.V. SOFOM ENR that is a Mexican non-bank specialized in corporate asset backed investment and lending such as mortgage loans, real estate dvelopments and commercial loans. As a complement to its core line of business, BBP Capital offers trust services and loan asset management.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire TecFin & Partners (Tecnologia en Finanzas y Administración)?

Our company has obligations to perform regarding to money laundering and the financing of terrorism prevention. TecFin & Partners has helped us to achieve and fulfill such obligations. Its guidance and advisory have been very effective and accurate for us.

What were your goals for this project?

We are supervised by the Mexican Financial Authorities (Comisión Nacional Bancaria y de Valores) and therefore several goals, procedures, reports and data have to be developed and delivered to such authorities on specific dates. The main goals of this projects were to accomplish with the task and responsibilities derived from such obligations.

SOLUTION

How did you select TecFin & Partners (Tecnologia en Finanzas y Administración)?

Because they have among its partners a certified professionals in Money Laundering and the Financing to terrorism Prevention. Their expertise for more than five years in such field was an important decision point, as well as their hands-on mentality.

Describe the project in detail.

Since we have already mentioned in this review. The project was to accomplish the Compliance Area functions. Providing guidance and advice and cover all the obligations required by the Mexican Financial Authorities. Performing the Compliance Officer functions (outsourcing services) for our company.

What was the team composition?

Because of the nature of the required services just one expert was necessary. Since this service is an ongoing project we requested that just one person will be in charge of the project. TecFin & Partners has among its associates a couple of persons with the required skills to perform the task; and we selected one of them.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

We have been involved in this project since the last year (2019), we had an external audit regarding money laundering and financing of terrorism and the result was excellent. We consider that the actual year will have the same accurate result.

We had a couple of fines and citations the year before we hired TecFin & Partners. Since they came aboard we are very happy.

How effective was the workflow between your team and theirs?

It has been very effective. We have heard that in other companies their Compliance Area is continuously stopping the business, but in our case is the opposite what occurs.

TecFin & Partners communicate the official rules and changes very well among our personnel. Every year TecFin & Partners perform a course (training) to our personnel and everybody is happy to attend. Even when they impose a test after the course.

What did you find most impressive about this company?

The way they perform the delivery. What they promise is what we receive. They are very professional

Are there any areas for improvement?

Of course always is possible to improve the way a task is performed. Perhaps our Manual of Risk-Based Approach could be improved. And we have already talk with TecFin & Partners about it. We are positive about they are going to surprise us again.

BACKGROUND

Please describe your company and your position there.

I am the CEO at a Medical Company named Endomedica in which we represent and distribute several products ( equipment and consumables) . Our company has around 150 employees. We started the company on 1986.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire TecFin & Partners (Tecnologia en Finanzas y Administración)?

Our company has been growing up in value and there are some other companies interested to buy our company so we needed to know a reasonable value of Endomedica and TecFin & Partners made this company valuation for us.

What were your goals for this project?

We wante d to know the market value of our company in order to have the information for the possible negotiatiosn with the companies interested to buy Endomedica.

SOLUTION

How did you select TecFin & Partners (Tecnologia en Finanzas y Administración)?

We know one of the partners since many years ago and we also know that TecFin & Partners has been doing a great job in the past.

Describe the project in detail.

Before TecFin & Partners started the project, we had several meetings and discusions in orders for them to understand our market and the differences among other companies. After that TecFin & Partners started the project and after around three months we received the project ( company valuation ) completed.

What was the team composition?

We only had contact with one person.

RESULTS & FEEDBACK

Can you share any outcomes from the project that demonstrate progress or success?

After we reviewed the company valuation, we started the discussions with the companies interested to buy Endomedica and we could see the valuation made by TecFin & Partners showed the correct value.

How effective was the workflow between your team and theirs?

Very good. We had a very good communication.

What did you find most impressive about this company?

I liked the knowledge TecFin has regarding the way to do a company valuation.

Are there any areas for improvement?

We were very satisfied with their work.