The importance of flexible financial reporting for your business

According to research, 35% of organizations indicate that demand for expedited financial information delivery is their top pressure. Financial analytics and financial reporting, are valuable sources for informed decision-making across an organization, and should be part of your company’s analytics strategy.

By leveraging a financial analysis and reporting solution integrated with your business management solution, you can consolidate financial data across all your locations and subsidiaries, drill down into the details, and get a holistic view of your data for optimal financial planning in your company.

Take Sage Intelligence for example, you’re provided with basic financials with the ability to change them to suit your needs. As an Excel-based reporting tool Sage Intelligence has a host of pre-built reports that you can run to view your financials and more.  Simply run out any of the existing reports and view your data.  Then, if you need to adjust the format you can use Excel to customize the report the way you need to view your data.

Did you know that Sage Intelligence also comes shipped with your Sage business management solution?  Once the Report Manager module is activated, you can begin running the standard, out-of-the-box reports right away.  Whether you are using any of the Sage desktop solutions—Sage 100, Sage 300, Sage 500 ERP, or Sage X3—you have access to several, standard reports using Report Manager.  For example, the sales report gives your sales team power by allowing them to analyze buying behaviors, identify up and cross-sell opportunities as well as enable them to spend more time contacting prospects. The sales report, like other standard reports within Sage Intelligence can be customized to suit your business needs.

“86% of the time organizations with real-time access to financial performance are able to deliver information in time for decision-making.” – Real-time financial reporting: The need for speed, Aberdeen Group, 2014

A challenge in finance departments is the amount of time spent collecting and compiling data. If you provide your employees with the ability to run financial reporting and analytics on their own, reports can easily be updated, and financial information in the organization accurately maintained. Let your employees manipulate data in flexible tables, and design and share their reports with others in the organization. With Sage Intelligence, you can do just that. You can share and send a report as an Excel file, PDF or HTML document, and automate it so that your report can be received at the same time every day or every week with updated data.

The important point when selecting a solution is to make sure that it is adaptable to your organization´s unique financial reporting requirements, to avoid additional manual handling and processing of reports and data. The Sage Intelligence Report Designer has all the power you need to create your financials exactly the way you need to view them.  With the Designer you have the option to use our pre-built templates, customize the template or start with a blank Excel sheet and create the financial report of your dreams.

If you found this article helpful, you should check out this white paper—where we explore some of the specific data challenges businesses are currently facing, and discuss how modern Business Intelligence solutions can help you uncover new opportunities, quickly react to business changes, and make faster, more precise decisions. And if Sage Intelligence seems like something that will interest you, check out the website. You can also check in with your Sage partner and get started today!

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