Top 3 reasons why CFOs are choosing a management reporting platform
Text: Lucas Carette, Nordics Business Developer, BrightAnalytics
The role of the CFO is evolving. That is why an increasing number of CFO’s are looking for solutions to automate their reporting, budgeting and consolidation. In search of real-time insights into finance and business performance – a management reporting platform is the way to go.
1. Plug and play solution
A management reporting platform allows you to focus on analysis instead of collecting data. There are standard connectors to different accounting/ERP/CRM systems that integrate seamlessly with the platform. And thanks to the built-in financial logic, the end-user is able to automate their financial reports and visualization straight away – without any help of BI experts.
Gone are the days where you spend late nights getting your reports ready, or where you have to rely on consultants to make changes to your BI reports.
2. Increase engagement
The focus on analysis leads to more and faster insights, which helps you to swiftly steer your organization with well-grounded strategic decisions. Gain real-time insights in the corporate performance of your entire organization, cross division, cross operations and cross entities.
You can further grant access to colleagues outside of the finance department, so they have a view on the performance of their responsibility area. Like this, you can create more engagement within the organization – as everyone is looking at the same data. Anytime, anywhere.
3. One platform – endless possibilities
Usually, a management reporting platform has more capabilities than purely financial reporting. It also incorporates a budgeting tool, allows you to do a full consolidation (fe. automatic IC eliminations and consolidation bookings), automate your cash forecasting and it can incorporate as well the full strategic operational reporting. Like this, you have a single platform of truth, that allows you to keep your finger firmly on the pulse of your business.
BrightAnalytics is a fast growing Fintech player that offers an intuitive, reliable and fast management reporting platform that allows you to automate your management reporting, budgeting and consolidation. With over 120 connectors today (and growing) they connect to all business systems out there.
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