Financial Dashboards
Dashboards and reporting come in all shapes, colours and sizes. Every business is different and so are often the reporting expectations.
Companies often begin their digital journey in Power BI by automating their financial reporting. The reason? This data is often easily accessible within the company. Automating financial reporting is often where advances in time efficiency are greatest. As a result, the payback model for these Power BI projects is only 18 months. A great way to do more, with less.
As a management team, you want to monitor and adjust your KPIs at all times because financial indicators are central to running your business. Many of the numbers and figures are published and made public for your bankers, customers, suppliers and future employees.
A data culture with Power BI
The change within your company to a data culture remains an “ongoing process. Using Power BI, learn about the data culture, share data with your team and gather feedback to make adjustments as needed.
The finance reporting accelerator makes it possible to build a solid foundation within weeks. A foundation on which to build in the coming years including other Business Units such as Sales, Purchasing, Operations and so on.
Automating vs. standardizing
Automation in Power BI can be used to collect and process your data into dashboards. This replaces tasks done manually by you or your team.
While standardization ensures that dashboards are consistent and meet certain specifications. You and your team are always working with the same analyses. Standardization prevents you or your team from making your interpretation.
Microsoft Integration
As a manager within an SME, your job is to enable your team to work efficiently. Even more important is the integration of all these tools. If each program stands alone, sooner or later your team will run into problems resulting in frustration:
- Excel workbooks are linked to Power BI dashboards to automatically refresh data.
- PowerPoint is used to present Power BI data in professional-looking presentations. Here you process live data in the slides, even the dashboards are interactive!
- Business Central, as a Cloud-based ERP system, is used to manage and automate business processes. Data from Business Central is imported into Power BI for analysis and visualization.
The implementation
The Finance Reporting Accelerator comes with a strong standardized foundation. Yet the package also comes with enough budget to configure a few things to suit your business.
P/L structure
The specific items on an income statement can vary from company to company, depending on the nature of the business and the type of products or services it offers. So we need to identify those. From your ERP system, we determine how your financial data is organized. Then we make sure that your familiar financial reporting structure is reflected in the dashboard.
Corporate identity
Adding a house style to Power BI reports based on terminology and company colours can make them more intuitive and familiar to staff, helping them better understand the data.
Future proof data model
The reports are built on a future-proof data model. This is specially designed to remain flexible and scalable. This allows us to respond to changing business needs. Flexibility for adding new data sources or dimensions is essential here.
Characteristics:
- Scalable
- Flexible
- Clear
The dashboards
Each dashboard offers a new layer of detail or looks at your numbers from a different perspective. In your monthly consultation of dashboards, you know where to look first each time. Sometimes the overview is enough. Other times, certain KPIs require a little more detailed analysis. Each month, you and your team will get better at crunching numbers.
Together with our partner in crime, Power Partners, give you a first look at reports, links and budgeting each time. The package consists of a total of 6 dashboards.
Want to know more about our approach?
Would you like to know more about Finance Reporting Accelerator with Power BI?
Starting from the needs for your organization, our experts automate the processes for your organization. Thus, optimize added value through smart digital implementations.
