Summary: Is financial reporting a time-consuming task? Do you spend hours (or days) gathering financial data, organizing it in spreadsheets, creating reports, and distributing everything to other business leaders? Or, would you like better visibility into your financial data? Check out this demo, and see how easy financial reporting can be.
Unfortunately, this is rarely the case. For many businesses, the financial reporting process is anything but simple. Their financial reports are plagued with a few common problems, such as:
Lack of visibility: Financial reports are often delivered on a single page, giving executives an overview of the business. But, what happens when they need to drill deeper into the data? For instance, suppose you review a P&L statement, and notice that expenses were abnormally high in the last month. Can you drill down into those expenses and discover the reason behind the data? Most often, the answer is “No.”
Complexity: For many, financial reporting is a time consuming process–often requiring Excel. Data is manually pulled into Excel from multiple systems, where it is cleaned, formatted, and delivered to business leaders. This process requires hours, or even days, depending on the company.
Inaccessibility: The big problem with these reporting methods: Accessibility. Business leaders cannot access their financial data at any time. When they do receive the reports, it’s in a format that isn’t accessible on all devices.
If your business faces any of these issues with your financial reporting, check out this new financial reporting demo we just created. It gives you an idea of how simple financial reporting can be. Here a few highlights:
Instant visibility: The financial reports let you drill down on nearly any aspect of your business. For instance, if you want to learn why expenses were so high last month, you can drill down to individual records.
100% availability: The reports pull data in real-time from the database. Once the reports are created, they’re accessible at any time. You don’t need to spend your precious time putting the report together. Executives can log into the portal and access them whenever needed.
Web-based and mobile-ready: The reports are responsive, meaning they adapt to any device. Executives can access them on a PC, tablet, or smartphone–from anywhere.
We’ve included three separate applications in the demo: A P&L Statement, a Balance Sheet, and a Statement of Cash Flow. You can check out the whole demo right here.
Of course, if you’d like to learn more about creating financial reports for your business, shoot us a note. We’re happy to help!