The right starting point.
Identity and ownership, purpose, valuation date, financing need, three completed financial years, current figures, original supporting documents and documented normalisations.
Company value. With perspective.
Your company.
Its value.
Your future.
From company application to a structured investment and financing dossier: with traceable valuation, in-depth due diligence, an evidence chain and independent expert reports.
Company valuation · Value creation · Succession · Due diligence
Value perspectiveILLUSTRATIVE EXAMPLE
CHF 2.4–3.1m
Possible equity value · not a real valuation3 yearsFinancial history
Multi-MethodPlausibility check
Evidencebefore approval
Value arises from provable earning power, transferable structures and traceable assumptions.
01 Understand value
02 Make risks visible
03 Develop value deliberately
04 Prepare the handover
Investment & Financing Dossier
Understandable for investors.
Traceable for banks.
Every company goes through the same transparent core process. Review scope, countries, business model and specific recipients determine the depth required.
24 review areas. With evidence.
Financial, Tax, Legal, Commercial, Operations, People, Technology, IP, Cyber and material ESG topics. Every finding receives evidence, an owner, a risk class and an independent review note.
Clear analyses.
Investment memo, expert reports, valuation, financing analysis, risk register and evidence index. Release according to review scope and defined rights of use.
Product goal: a fully documented and independently reviewed dossier. Current pilot: review catalogue, evidence mapping, calculation analyses and approval locks are implemented. External review engagements, original expert opinions and recipient agreements are not created automatically as a result.
More than a company valuation
How much can the plan withstand?
What is really evidenced?
Review tools deliver clear calculation results and open questions for the expert review. A positive figure is not a loan commitment.
Quality of earnings & cash
Normalised earning power, revenue cut-off, receivables ageing, working capital, net debt and off-balance-sheet obligations are recorded and evidenced in the review catalogue.
Debt service capacity
CFADS, interest and repayment per plan year. DSCR based on a disclosed, individually chosen target value. Outstanding debt and financing need remain visible.
Stress test
EBITDA decline and interest rise on floating-rate outstanding debt. Comparison of debt service and year-end liquidity. Short-term peaks additionally require a 13-week plan.
Ownership & legal position
Ownership chain, permits, material contracts, change of control, disputes, collateral and ranking require expert assessment and original evidence.
Software, IP & operations
Chain of title, licences, technical debt, cyber risks and recovery. Link to our own platform AKKON.ai; no automatic external security review.
Approval with evidence chain
No self-verification. Open or high risks block dossier approval. Signed DD, valuation and financing reports, a complete review catalogue and independent assessment are mandatory.
A number needs a foundation.Several perspectives.
Several perspectives.
One traceable picture.
Valuation purpose, business model and available data determine the method. Results are reconciled with reasons – not arbitrarily added or averaged.
Quality before speed
Good decisions
begin with
reliable data.
At least the last three completed financial years. Original figures and normalisations kept separate. Responsible reviewers and approvals documented traceably.
Financial statements & current developmentBalance sheet, income statement, notes and audit reports for three years; in addition, current management accounts (BWA) and trial balances with prior-year comparison.
Normalisation bridgeOne-off effects, owner's salary, related parties and non-operating items: individually justified and evidenced.
Auditor evidence & signatureBinding platform requirement for released reports: recognised statutory auditor, register/licence check, documented engagement scope and signed confirmation.
Expert approvalOnly after data, model and four-eyes review. A signature alone is not an audit opinion. Review opinion and qualifications remain visible.
Methodological reference framework
Nationally anchored.
Internationally compatible.
Proven standards as the basis of the blueprint. No claimed certification, partnership or blanket recognition by banks.
Whether a report is accepted is decided by the respective bank or investor on the basis of purpose, data quality, assumptions and professional responsibility. Naming a standard does not yet make an automated report compliant with it.
The result of the process
One dossier.
Two decision perspectives.
A resilient company must both explain its investment story and demonstrate its capital requirement and its ability to service debt.
INVESTMENT PACK
For national and international investors
Executive summary with English chapter structure; business model, market, financial history, quality of earnings, integrated planning, valuation range, capital structure, investment terms, exit perspective and disclosed risks.
An English-language expert report must be aligned in content with the approved original; a heading alone does not replace a translation or an international review.
FINANCING PACK
For the specific credit decision
Sources and uses of funds, own funds, CFADS, repayment and interest, outstanding debt, collateral, ranking, covenants, liquidity and downside. Each bank sets its own conditions and the evidence it requires.
The EBA Guidelines on loan origination serve as the EU reference for credit processes; Swiss and other local requirements and the recipient's credit policy must be observed separately.
Twelve chapters with traceable appendices
01 Executive Summary · 02 Scope & Independence · 03 Market & Commercial DD · 04 Financial History & QoE · 05 Working Capital & Net Debt · 06 Planning & Stress · 07 Valuation · 08 Financing & Collateral · 09 Tax, Legal, People & Operations · 10 Technology, IP, Cyber & ESG · 11 Risks & Conditions · 12 Evidence, Original Reports & Reliance.
Review is not a uniform label.
Review scope visible.
Responsibility unambiguous.
The report states the service engaged and the review actually performed. An uploaded signature alone is not enough.
Statutory audit
Original audit report on the annual financial statements with the applicable auditing standard, audit opinion and qualifications. Documented separately from transaction due diligence.
Agreed-upon procedures
ISRS 4400 (Revised) describes agreed-upon procedures and their findings. Such a report is not an assurance opinion on the company as a whole.
Assurance & expert reports
ISAE 3000 (Revised) distinguishes limited and reasonable assurance for suitable engagements outside the audit of financial statements. Suitability and the applicable standard are to be determined by the professional. DD is not automatically assurance.
Check auditor licence: WPK Germany ↗ · RAB Switzerland ↗ · APAB Austria ↗
Confidentiality and clear conditions
For serious prospects.
With controlled access.
Planned release process, no automatic public disclosure of company data.
01 / QUALIFICATION
Who wants to invest?
Identity, company, beneficial owners, power of representation, conflicts of interest and country-specific restrictions. Financial capacity and own funds evidenced with appropriate supporting documents.
02 / INFORMATION
Which data may go where?
Teaser before confidential details; NDA before data room access; named recipients, purpose limitation, expiry date, tiered rights and controlled disclosure. Agree report use and any reliance separately.
03 / TRANSACTION
Which conditions apply?
Set out the term sheet, decision deadlines, financing condition, open findings, approvals and closing conditions transparently. Material new events trigger an update review.
No external investor data room is currently open. Contracts, identity checks, recipient approvals and reliance letters must be specifically set up and agreed before such access.
Traceable, not just convincing
An answer is only good
when its foundation is visible.
Evidence before claims.
Sources, document versions, assumptions and open questions remain separate. A positive calculation check does not prove authenticity.
Automation with stops.
Routine work should run digitally. Where there are contradictions, missing evidence or open risks, no positive review opinion is generated.
Responsibility remains visible.
FIRMWERT is software, not a licensed statutory auditor. A second AI model does not replace an independent expert review.
Official sources · Research 18.10.2026
The standards of major firms.
Thought through for SMEs.
Four international audit and advisory networks and four M&A firms named by the commissioning party were analysed. No ranking, partnership or proven superiority. Our implementation and its limits are disclosed.
Repeated source and code check: 18.10.2026. M&A league tables are distinguished by metric and period; Houlihan Lokey and Rothschild were also considered. Review basis and current limits ↗
Deloitte
Distinguish a fact book from independent vendor due diligence; control information disclosure and the bidding process.
FIRMWERT: FIRMWERT separates calculated indication, data preparation, expert report and recipient approval.
Official source ↗PwC
Quality of earnings and cash flow and consistency of facts in the information memorandum; address risks early, prepare the transition.
FIRMWERT: Normalisation bridge, document versions, a robust investment story and handover plan as separate work steps.
Official source ↗EY
The owner's goal, timing, management and complexity determine an individually prepared exit.
FIRMWERT: Target profile, desired role after the sale and a staged action roadmap instead of immediate pressure to sell.
Official source ↗KPMG
Assess financial, tax, operational, personnel, technological and other relevant risks together.
FIRMWERT: 24 review areas with assigned evidence, open risks and responsible specialists.
Official source ↗Goldman Sachs
Consider strategic alternatives, regional and sector-specific perspectives and cross-border transactions.
FIRMWERT: Compare sale, investment and other alternatives; document buyer benefits and synergies separately from the stand-alone value.
Official source ↗J.P. Morgan
Consider M&A and capital raising together, also for mid-sized companies; distinguish sell-side and buy-side.
FIRMWERT: Separate the investment pack and the financing pack; present capital requirements, financeability and transaction objective together. Official service information researched; retrieval of the main page and further detail pages was partly restricted. An official second version is also available via cws-main-ndc.jpmorgan.com.
Official source ↗Morgan Stanley
Besides sale and acquisition, also consider joint ventures, recapitalisation and other structures, as well as equity and debt.
FIRMWERT: Compare structural alternatives and payment terms; separate cash purchase price, earn-out and retained stake transparently.
Official source ↗Bank of America
Connect advisory, credit process, risk, and equity and debt capital; also take mid-sized businesses into account.
FIRMWERT: Review debt service, liquidity and transaction structure together; leave actual credit decisions with the recipient.
Official source ↗Saleability can be shaped.
Identify risks.
Gain room
to manoeuvre.
Ten key fields of action – from owner dependency to buyer competition. A dedicated digital action plan leads from analysis to implementation.
Due Diligence & Exit Readiness
Prepared before
the questions come.
What questions do buyers, banks and investors ask? Open a review area to learn what matters and which documents you can prepare.
01FinancialQuality of earnings & net debt
How reliable is the reported result?
The starting point is the reported result. One-off effects, private expenses, owner remuneration not in line with the market and transactions with related parties are explained individually. Every normalisation needs an amount, supporting evidence and a justification. Recurring costs must not be stripped out as one-off.
How does company value become the value of the shares?
The reconciliation shows financial debt, available cash and agreed debt-like items at the same valuation date. Leases, factoring or pension obligations must be classified appropriately. Purchase price mechanism and normal working capital are defined separately; items must not be counted twice.
Is the profit enough for interest and repayment?
What matters is the available cash surplus after taxes, necessary investments and additional working capital. Seasonal patterns and stress scenarios reveal bottlenecks. A positive EBITDA alone proves neither sufficient liquidity nor financeability; the credit decision is made by the respective bank.
Supporting documents to prepare
- Financial statements for the last three completed financial years, current management accounts (BWA) and trial balance (SuSa).
- Evidenced earnings normalisations, receivables ageing, liabilities, financing and liquidity overview.
- For the reviewed dossier path: signature by a recognised statutory auditor with documented review scope. A BWA or an upload alone is not an audit opinion.
02Tax & LegalTax, contracts & ownership
Is it clear who owns the company and its assets?
Shareholdings, powers of representation and material ownership or usage rights must be consistent. Encumbrances, collateral and third-party rights belong in the overview. A share deal and a sale of individual assets differ in review scope and in the consents required.
Which tax risks must be disclosed?
Tax returns, assessments, ongoing audits, arrears and disputes are consolidated per company and country concerned. Unclear items receive a reasoned assessment and a responsible person. Whether and how they affect the purchase agreement or transaction structure requires a qualified tax assessment.
Do key contracts remain in place after the sale?
For customer, supplier, lease, loan and licence agreements, term, termination, transferability and change-of-control clauses matter. Missing permits, pending proceedings or required consents are clarified before a transaction. Automated text analysis does not replace a legal assessment.
Supporting documents to prepare
- Current register extract, overview of shareholdings and relevant corporate documents.
- Material contracts, collateral, permits and an overview of open legal cases.
- Tax documents and audit reports, plus documented expert assessments of open points.
03CommercialCustomers, market & concentration
How reliable are revenue and customer retention?
Recurring revenue is separated from one-off projects. Contract terms, cancellations, repeat purchases and actual cash receipts show the quality of the customer relationship. A sales pipeline is not treated as a secured order; assumptions on closing probability remain visible.
How dependent is the business on individual customers?
The revenue and margin shares of the largest customers are considered together with contractual commitment and switching risk. A scenario for losing a key customer shows possible effects on earnings and liquidity. Dependence is a review point, not a blanket reason to exclude smaller companies.
Is the growth plan comprehensible?
The plan links market assumptions with prices, sales volumes, staff and capacities. Market sources are given a date and origin. Base, upside and stress scenarios make uncertainty visible; ambitious growth needs verifiable drivers and the investments required for it.
Supporting documents to prepare
- Revenue and contribution margins by customer, product and region, ideally over three years.
- Customer contracts, order backlog and a separately labelled pipeline.
- Market sources, competitor comparison and documented business plan assumptions.
04PeopleManagement, key people & handover
Does the company work without its current owner?
What matters is who carries customer relationships, decisions and expertise. Deputy arrangements and documented processes show transferability. A strong owner role can be secured step by step through a realistic handover plan and by building up further responsible people.
Which key people and obligations matter?
Critical functions, replacement risks, remuneration and material staff obligations are recorded. Assumptions on retaining employees belong in the plan together with their costs. Personal data is provided only to the extent necessary and with appropriate access rights.
How is the handover prepared in practice?
A handover plan names tasks, responsible people, milestones and a timeframe. This includes introductions to key customers, documentation of processes and transfer of access rights. Any involvement of the owner after the sale is expressly agreed.
Supporting documents to prepare
- Organisation chart, roles and deputies, plus an overview of key positions.
- Staff structure and material contractual and remuneration obligations, initially aggregated where possible.
- Documented handover and knowledge-retention plan with responsibilities.
05TechnologyIP, software & cyber risks
Does the company actually own its software, trademarks and other IP rights?
For in-house and acquired technology, the chain of title must be traceable. Developer contracts, licences, open-source components and third-party rights are included. Development costs alone prove neither ownership nor market value of an intangible asset.
How resilient are IT operations?
Critical systems, permissions, backups and recoverability are examined on the basis of concrete evidence. Security incidents and open vulnerabilities belong in the risk list. A questionnaire or document check is not a penetration test and no proof of complete cybersecurity.
Which technology costs will a buyer face?
Maintenance backlogs, outdated systems, dependence on service providers and necessary integration or separation costs are recorded. The action plan separates running costs from investments. Effects on earnings, cash flows and valuation must be shown consistently.
Supporting documents to prepare
- System and licence inventory, development contracts and evidence of material IP rights.
- Access and backup concept, documented recovery tests and existing security reports.
- IT costs, service-provider dependencies and a prioritised investment plan.
06ESG & OperationsBusiness model risks
Which sustainability and operational risks really matter?
The scope depends on industry, location, size and business model. The focus is on material environmental, labour, supply-chain and governance risks and their economic consequences. A small service company has different review priorities than a manufacturing business.
Can operations actually deliver the plan?
Capacity, delivery capability, quality, maintenance and dependence on individual suppliers are reconciled with the plan. Necessary replacement investments and possible business interruptions affect cash flows. Existing permits and insurance policies are documented with their scope.
What happens with an identified risk?
Every finding needs evidence, an assessment of the possible consequences and a specific measure with a deadline and a person responsible. Missing information remains marked as open. An action plan describes the remediation; it is not yet evidence that the risk has already been eliminated.
Supporting documents to prepare
- Material permits, insurance policies and existing environmental or occupational safety reports.
- Supplier concentration, capacity and quality indicators, plus maintenance and investment plan.
- Risk and action list with evidence, responsibilities, deadlines and documented progress.
The answers explain the review standard. Statements about your company require concrete evidence. Smaller companies, too, can start with the documents they have and close gaps in a targeted way. The current pilot issues no approved review opinion and no financing commitment.
Professional guidance on the structure of the review areas: PwC · Business Diligence ↗ · EY · Due Diligence ↗. Independent FIRMWERT texts; no partnership with or endorsement by these providers.
SMEs welcome
You don't have to be big.
The next step has to fit.
For the structured SME process we recommend roughly 500,000 CHF/EUR annual revenue or 100,000 CHF/EUR normalised EBITDA. Smaller companies start lean; a separate asset path may also make sense.
Start with just a few details.
No complete review file needed to start. The free fit check shows the right scope – no upload and no sign-in.
Find my starting point ↗Close gaps step by step.
Prepare figures, contracts and normalisations. Clarify owner goals, owner dependence and timeline. You see what is missing and why.
Open workspace ↗Build a robust dossier.
The final reviewed version requires complete evidence and original reports. Production final approval is locked in the pilot.
View quality standard ↗Our own economic guide values, not statutory minimum sizes. There is no automatic exclusion below these values. Guide value for a separate asset path: 250,000 CHF/EUR stated asset value, to be evidenced. No valuation commitment and no currency conversion.
Clear scope. Fair price.
First the right step.
Then the right package.
FIRMWERT's own proposed prices for planned commercial operation, net in CHF. Not a comparison rate of the eight firms researched. No ordering and no payment in the pilot.
One-off · Orientation
Basic analysis
1.490 CHF / company
- One company, one valuation purpose
- Structure data situation and choice of method
- Evidenced scenarios and open questions
- Prioritised next steps
Calculated indication and working basis. Not a signed expert opinion.
One-off · Preparation
Sale readiness
from 4,900 CHF / project
- Everything in the agreed analysis scope
- 24 review areas and evidence structure
- Normalisation and risk register
- Clarify goals, actions and handover needs
Digital preparation. Buyer outreach, brokerage and specialist reviews not included.
One-off · Dossier preparation
Investment & financing
from 14,900 CHF / project
- Agreed dossier and evidence structure
- Investment and financing perspective
- Valuation, debt service and stress
- Review status and recipient conditions
Not a price for a fully reviewed transaction dossier. Auditor, tax/legal review and specialist opinions separate.
Monthly · Development
Value management
790 CHF / month
- One company within the agreed scope
- Ongoing scenario and action management
- Document and model history
- Track open evidence and progress
Proposal: cancellable monthly. 12 months: CHF 9,480 net. No ongoing auditor engagement; multi-user management still being expanded.
No hidden review costs: Before engagement, scope, companies, countries, data quality, specialist reviews and total costs are clarified in writing. Example: 14,900 CHF digital dossier preparation plus specifically quoted external specialist services and taxes – this does not yet determine the final price. No invented flat partner fee. Small companies begin with a free suitability orientation; no automatic switch to the full package.
Pricing by scope and complexity, with no surcharge merely for a higher calculated company value. No automatic success fees. EUR engagements receive a separate offer; CHF amounts are not silently converted. All prices are product proposals, not services that can already be booked.
The system blueprint
One end-to-end process.
Clear responsibilities.
The customer journey is digital. Professional responsibility stays where a robust valuation requires it.
01 / CLIENTS
Your own company in view.
Create engagement · choose country and purpose · provide documents · answer queries · compare scenarios · track actions · retrieve approved reports.
02 / ADMIN & SPECIALIST REVIEWERS
Manage quality systematically.
Manage clients and roles · assign documents · evidence reviewer accreditation · approve normalisations · version models · log four-eyes review and report issuance.
03 / OPERATING ARCHITECTURE
Controlled from the start.
Active in the technical pilot: separate engagements, second factor, time-limited internal roles, versioned originals, audit log and controlled export. External approvals remain locked until operational acceptance; binding retention periods have yet to be defined.
Originals. Folders. Versions.
Add files and entire folders by drag and drop. PDF, XLSX, CSV, TXT, PNG, JPG and JPEG. Progress, retry, duplicate detection, moving and checksums. Text and figure mapping stay separate from the review status.
Data room in the client portal ↗Bring earnings and liquidity together.
Three to ten integrated plan years with income statement, balance sheet and cash flow; 13 weeks of concrete receipts and payments; DCF sensitivity. Each version stores assumptions, author, model version and links to the originals.
Prepare plan ↗Take the actual status with you.
Twelve chapters, evidenced control figures, risk findings, valuation assumptions and open actions. As HTML, print view/PDF or ZIP with originals and change history. No automatic signature or financing commitment.
View review standard ↗Pilot version: sign-in with an additional second factor, engagement roles, drag and drop with folders, seven file formats, version history, local PDF/spreadsheet extraction and OCR, six valuation models, integrated planning, 13-week liquidity and twelve dossier chapters are technically implemented. Full ZIP backup and restore as a new engagement are prepared. A professional malware scanner, signature validation, payment, external reviewer engagements and independent operational acceptance are still missing. Please use test documents only.
Clarity before the next step
The right questions.
Is the valuation automatically accepted by banks?
No. Recognised methods create a professional basis, but no general guarantee of acceptance. Recipient, purpose and required review scope must be defined in advance.
Why three years and an auditor's signature?
This is FIRMWERT's intended quality policy for approved reports, not a blanket legal obligation for every SME. Signing off the normalisation bridge is kept separate from the audit opinion on the annual financial statements. Where evidence is missing, the report remains locked; a preliminary analysis is expressly marked as unreviewed.
How are software and other digital assets valued?
Depending on purpose, via replacement cost, attributable cash flows or market-based methods. Chain of title, source code, licences, technical debt and economic usability must be reviewed. Asset values are not simply added to the capitalised earnings value.
What happens with fewer than three financial years?
A separate start-up/asset process is planned: existing history, evidence of rights, financing and planning risks are disclosed. No automatic passage through the standard approval for established companies.