Analytics in Finance and Accounting – Why Is it Important?

Excel-based analytics may remain a viable option for small businesses, but Excel was never intended to handle the complex analytics needs of multi-entity corporations.

Analytics are incredibly powerful and important, and accessing them should be easy. Being able to pull data at a moment’s notice is important not just for day-to-day operations, but also to identify trends and adjust your ever changing business model. Analytics need to be easy to pull, simple to understand, and accessible to all who need them.

With cloud-based accounting software, analytics are a click away. Any user can access interactive dashboards, tables, and graphs from any device with an internet connection. And most importantly, the data is accurate. When keeping a complicated trail of Excel documents, manual errors crop up often, and staff members may not always be working off the most current numbers. Discrepancies abound and more time is spent digging through data to determine what’s the most accurate view, and not enough time is spent analyzing and building for the future.

With a centralized cloud-based system, data is always accurate, current, and accessible.

How FYIsoft can help you

FYIAnalytics provides CFOs with powerful analytics capabilities. The ability to visualize data through interactive dashboards, closely monitor trends, and easily run instant “what if” scenarios are all just a click away.

With the addition of FYIAnalytics, finance-minded professionals can quickly glean critical insights from financial reports, and truly drive the business forward. Key benefits include:

  • Easy on-demand analysis of data that always ties back to financial statements.
  • Customizable data visualization tools including dashboards focused on the KPIs and trends most important to finance executives.
  • Flexibility to easily “slice and dice” data any way needed, such as by product line, location, or time frame.
  • Dynamic charts and graphs that are easily manipulated.
FYIAnalytics will have you prepared for anything. You’ll have the tools you need to proactively communicate strategic business insights and be ready with the financial intelligence needed to answer any question that comes your way.

FYIAnalytics is designed to elevate the CFO’s ability to quickly gain extraordinary insights and proactively communicate. Count on: accuracy, ease, relevance, and speed. Data is pulled directly from the GL without the risk of manual error, revisions and updates are immediate, dashboards reflect the metrics important to your business with just a click of a button, and multiple “what if” scenarios can be run with ease in real-time.

Contact FYIsoft today to learn more about cloud-based accounting solutions with robust analytics.

By | 2019-02-13T07:09:27+00:00 February 12th, 2019|FYIsoft|Comments Off on Analytics in Finance and Accounting – Why Is it Important?