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The Magnifier: A First Of Its Kind

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SW & Associates is not a new name to the financial and commercial world of Sri Lanka. The company’s innovative thinking paired with the carefully structured approach towards achieving their goals is perhaps one of the reasons that the company has steadily progressed over the past several years since its establishment.


Since its birth, the company has been moving forward with the main business line of restructuring enterprises that are in need of financial and management advice. With a history of services traced back to over a decade, today they have diversified their operations into three core services; helping companies manage key risks; and raise finances to keep the businesses running smoothly.


On the matter of their services, Saman Wimalaratne, a Senior Consultant at SW & Associates further explained, “corporate restructuring is about aiding the financially distressed companies to become sustainable and viable business enterprises. In very simple terms, we help in identifying the root causes to their problems and advise the companies on how to become profitable”.


The Magnifier, ‘The Business Diagnosis Study Tool’ is the latest addition to their service portfolio. A comprehensive financial and business analysis, the Magnifier gives a thorough insight into a business’s overall health. Exploring the importance of profitability liquidity, solvency, efficiency, growth and value amongst other factors, this ‘360 degree spectrum’ solution makes an informed judgment on the performance of businesses.


“If financial and corporate crisis has taught us anything, it is that a company is not always as healthy as its profits might suggest. An apparently strong Balance Sheet can hide all sorts of problems that could even spell bankruptcy”. The year-end audits have become merely a fulfilment of a statutory requirement, and the lack of proper governance and financial discipline has questioned the sustainability and stability of most of the enterprises, especially closely held family owned businesses and SMEs, he stated.


On addressing challenges, he stated, “we have two challenges. One is, that this is the first time a business diagnosis tool like this has been offered to the market. So the fundamental question we will be asking from the customers is, when did you do your last corporate health check?”


“Before I developed this product, I thought that creating something new and bringing that innovation to the table would be the most challenging task. However, today we have realised that what is indeed challenging is the matter of taking it forward in the market and approaching customers. Since this is fairly new, firstly we have to introduce the product and educate the customers, convincing them of the importance of a proper health check.” He added that the efficiency of a solution is immaterial if the sales efforts are not aggressive enough; convincing the consumers is a challenging task.


Commenting on his vision for the future, Wimalaratne said, “the Sri Lankan market is a good market for us to start with, considering the country’s competitive advantage. We are very clear about what we want and we will be taking Magnifier to the international arena.”


Isuri Senaratne, the Managing Partner of SW & Associates added that another key factor that has contributed towards making the Magnifier a unique solution is the continuous support from a team of experienced and qualified financial analysts and consultants.


Truly a groundbreaking invention, the Magnifier is the first of its kind in the market and is a product that is a result of years of research and development. Having contributed largely to some of the biggest restructuring projects in Sri Lanka, SW & Associates has yet more promise for the future as they set forth to embark on even greater journeys.

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