Deeper financial insight is required now more than ever as businesses push for growth – it is the time of Financial Reporting Dashboards.
An Aberdeen study found that 64% of business managers have seen their decision-making time shrink over the last year. In another study, Aberdeen found that 28% of business managers said they needed data to make decisions within an hour of a business event; another 42% needed information within a day. The pressure is on today’s CFO to provide faster and more granular visibility into what’s driving company performance.
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Financial reporting dashboards drive management action and decision-making.
- Today’s executive dashboards are to CFOs what cockpit control panels are to pilots – the business equivalent of dials and meters, all designed to provide the CFO with a real-time status of the business using KPIs.
- Modern dashboards are interactive for the user and add more value than a static printed report. Deeper insight comes from a user’s ability to drill into the various metrics on their screen and interact with the underlying data. This data can be sorted, spliced, and drilled further, all the way back to the transactional level, to give users a deeper and richer understanding of the underlying cause and effect of what has happened.
- Dashboards that incorporate color scaling, trend indicators, conditional highlighting to focus attention on areas for a CFO to drill deeper and develop insight. Dashboards provide at-a-glance views of what matters most: cash balances, project profitability, deferred revenues, revenue per square foot—practically any ratio or metric required. Many dashboards offer data visualization features that let the user easily flag important trends, display critical comparisons, highlight missed or hit targets, and more.
For example, Intacct’s financial dashboards convey a big picture glance that can be tailored to each stakeholder, including metrics such as cash balances, project profitability, or trends in revenue per square foot. Benefits include improved visibility with reporting featuring both types of performance metrics: financial and operational.
Today’s financial accounting dashboards ensure CFOs get the deep operational and business-performance insights they need to take real-time actions.
Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions.
An Intacct Business Partner, CompuData can help you leverage Intacct to drive data-driven decisions with intelligent Financial Reporting Dashboards.