Organizations face significant challenges from statutory requirements, government regulatory bodies and other standards. They must manage and report on the financial status of the organization and provide adequate documentation, disclosure and verification for the presentations, numbers, statistics and advice they provide to the shareholders, partners, suppliers, creditors, debtors, management team, the government, and the company at large.
Today’s finance departments have an increasing need for timely access to detailed, integrated financial and operational data. Too often, finance professionals find that disconnected and inaccessible data, lengthy reconciliation efforts, and ineffective reporting and analytic tools limit their ability to provide strategic advice while frustrating attempts to operate efficiently. As corporate financial data faces greater scrutiny, finance department must ensure the timely availability of detailed information quickly and widely to all the relevant stake holders.
BI Consulting Group’s Financial Reporting Platform simplifies the financial reporting process with greater speed, flexibility, and accuracy. The platform offers important features and benefits at every step, from data access and consolidation to generation of financial statements and reports; from financial analysis and forecasting to financial report distribution and archiving. Our Financial Reporting Platform dramatically reduces the time it takes to generate reports. People can spend more time planning and forecasting, less time validating, justifying, and auditing.
Business intelligence applications within Financial Reporting Platform area include:
- Budgeting and Budget Analysis
- Financial Performance Management
- Revenue Analysis
- Cost Analysis
- Expense Analysis
- Cash Flow Analysis
- Balance Sheet Analysis
- Accounts Receivable Analysis
- Accounts Payable Analysis
- Invoicing and Billing Analysis
- Profit and Loss Statements
The BI Consulting Group’s Financial Reporting platform offers analytics that can be used to answer key financial questions:
- What is the aging distribution of Accounts Payable and Accounts Receivable?
- Are there any customers with payment problems; if so, who needs to be notified?
- What is the value of assets, liabilities, and owners’ equity on a given date?
- What is the breakdown of expenses by business units?
- What are the revenue trends by business units?
- What is the forecasted revenue? Causes of deviation from previous revenue forecasts?
- What is the actual amount of profit margin by business unit or region? What are the associated trends?
- What is the breakdown of costs by vendors, and what are the associated trends?
- What is the change in cash position from period to period?