Finance departments use business intelligence to analyze and report on their financial data, optimizing business results and complying with industry regulations like Sarbanes-Oxley. Studies show that over 60% of CFOs believe that their existing financial applications are inadequate for reporting and analysis purposes. While these applications are fine for recording accounting transactions, budgeting and planning, they lack the ability to deliver comprehensive, live, transaction-level financial reporting. They also lack the flexibility to quickly and easily analyze key financial metrics.
Birst's powerful, easy-to-use business intelligence solution offers you true transparency into your overall financial results. Birst easily combines data from multiple sources to create a consolidated view of financial data. Get a holistic view of information from sources like the ERP system, data warehouses, a general ledger application, and other, more ad hoc sources like Excel spreadsheets. Birst can deliver statutory GAAP-compliant reports replacing manual consolidations and provide analysts with the ability to investigate data more thoroughly by drilling down to transaction-level details from a higher-level view.
With Birst you can:- Do quick balance sheet reporting in order to speed time to close
- Analyze balance sheet data by drilling to subaccounts in order to understand anomalies
- Do income statement analysis to identify revenue trends and profit fluctuations
- Analyze and report on cash flow data to identify things like foreign currency exposure
- Audit spending and key cost ratios by department and employee
- Analyze performance of key metrics across sales, margins, and inventory
- Benchmark the profitability of products, business units, and divisions
- Monitor financial health by tracking key financial ratios over time
Birst easily connects to your critical financial and operational applications, providing a comprehensive view of the business.
Financial managers often deal with information kept in multiple systems. Revenue, expenses, inventory, orders, assets, and other information are difficult to combine and analyze. Birst can easily connect to and combine data from multiple sources, so that you can quickly achieve a 360 degree view of the business and identify the drivers of success.
Using Birst Connect, you can schedule Birst to update your reports and dashboards on a regular basis. Since reports are automatically updated, the most recent information is available right on your dashboard whenever you log in.
To learn more about how you can use Birst for financial reporting and analysis, contact the Birst Team. Click here.
