30 September 2019

Transparency in Financial Reporting with Analytics

Have you ever considered how long it takes to prepare financial reports? How long does it take to gather the information and be able to analyse it? Is there only one version of the truth in your Organization? 

Accurate and reliable information is a requirement of the business world, especially in the financial departments. Consequently, financial reporting plays an important role in enabling managers and decision-makers, to monitor the financial health of their business, so they can anticipate scenarios and make better decisions.

Technology allows analysing the organization’s financial data, simply and effectively, managing to identify and prevent fraud. Aside from allowing the comparison between the expected and the accomplished, with precise detail of all financial movements. Also, even at the planning level, report analysis is critical to identifying business opportunities or cost savings. With an Analytics tool, it is possible to have custom reports and dashboards, that give an overview of organization’s finances, and let you know how much you can invest without risk and how you can leverage organization’s economic growth.

Quickly, you can have access to closing reports, financial statements, the management or regulatory reports and with an automated way, financial teams can accelerate the access to multiple reports, thereby comparing business practices and monitoring key indicators, as well as being able to send out quickly, tax and legal obligations and related declarations. Analytics Solutions is critical in the finance department to detect emerging risks, cost control and to protect your organization’s future.

It also provides an in-depth understanding of all the elements needed to support decision making, as well as reporting to management with real-time data to boost business strategy. By analysing cash flows, investments and risk exposure, you gain a deep insight into your business situation and realise business viability.

Besides, you will be able to increase revenue by doing efficient budget planning you need. Through predictive analytics, it is possible to understand the expected sales at a specific time, or for example, a new product or service impact and costs.

In conclusion, today it is imperative that finance department has high quality and extremely accurate reports, gaining access to the best insights through transparent and efficient reporting that will allow accessing your organization´s financial situation and team performance. Through disruptive and innovative solutions, CFO’S can efficiently organize data and have automatically generated financial reports available, giving them more time for accurate analysis and the right strategy.

Visualize consolidated financial results at any time, make comparisons of results, access to Benchmarks and financial statements, not only to effectively manage your business operations, but also to provide your stakeholders with transparent reports.

Are you ready to achieve the best results based on complete and accurate financial reports?