Ad hoc financial analysis and reporting for everyone
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Ad hoc financial analysis and reporting for everyone

In many companies, the IT department creates a library of pre-built templates for generating static financial reports from the ERP. These reports reflect data in a standardized format and layout. Yet often a decision-maker requires more information or wants to drill down on specific data. In such cases, they have to come back to the finance team (or the IT team) who investigates the matter and generates more standardized static reports. Now with new software, it is possible to remove the middle person and carry out ad hoc financial analysis – at any time – to quickly solve a pressing issue.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, Dynamic reporting, business intelligence dashboards, data visualizations

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Ad hoc financial analysis and reporting for everyone

In many companies, the IT department creates a library of pre-built templates for generating static financial reports from the ERP. These reports reflect data in a standardized format and layout. Yet often a decision-maker requires more information or wants to drill down on specific data. In such cases, they have to come back to the finance team (or the IT team) who investigates the matter and generates more standardized static reports. Now with new software, it is possible to remove the middle person and carry out ad hoc financial analysis – at any time – to quickly solve a pressing issue.

Read more

Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, Dynamic reporting, business intelligence dashboards, data visualizations

Financial Statement Reporting Software: A friend for your finance team

Finance teams have been opposing the arrival of Financial Statement Reporting Software for a simple reason — many assume that it will put you out of a job. But what if Financial Statement Reporting Software isn’t here to replace you; instead, it will assist you in your routine tasks, empower you to lead, and make you a more valuable asset for your organization.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, Dynamic reporting

The evolution of financial statement planning and analysis

Your finance team may be wasting their precious time in preparing outdated static reports, to provide insights which don’t matter anymore.Technology has transformed how the decision makers can leverage data to make informed decisions. Instead of waiting for year-end or month-end reports to analyze your financial health, the decision makers now require up-to-date insights to make on-the-go decisions and create new opportunities for business growth. Financial statement planning and analysis has evolved significantly, and with it, the need of switching to software has also increased tremendously.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, Dynamic reporting, business intelligence dashboards, data visualizations

Financial Reporting - it's time to automate and modernize

With today’s critical need for accuracy, completeness and speed in financial reporting, the finance team can’t afford to spend weeks collating data to generate reports. Your obsolete reporting software may be leaving your business exposed to a range of critical risks, and your finance team are left doing 'busy' administrative work. Instead, they could be adding value through knowledge sharing and analysis. It's time to add the power of data analytics to financial reporting, so customization and automation follow.

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Topics: Job Role - Finance, Financial Statements, Dynamic reporting

What's new in manufacturing software?


In manufacturing, most companies can’t make products any faster or cheaper, so they need to achieve efficiencies through data and the back office. ERP, data analytics and the new Epicor Data Analytics (EDA) Financial Statements manufacturing software helps facilitate these gains. Many manufacturers using Epicor ERPs benefit from the partnership between Phocas and Epicor and use the white-labelled Epicor Data Analytics plus EDA Financial Statements to do systematic analysis of their data and monitor KPIs.

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Topics: Industry - Manufacturing, Financial Statements, data analytics, data visualizations, KPIs and metrics

Attract and keep the best finance talent with financial analysis software

There is a global shortage of finance talent. Yet there is also a growing push toward having a more modern finance team that can be ready for anything, can quickly share up-to-date numbers and coach others in the business about financial performance. The biggest obstacle to achieving digital innovation in finance is the lack of trained teams. To help address the problem, companies need to consider intuitive financial analysis software. These tools can build a bridge to digitizing finance capabilities providing benefits for both the experienced finance team member and the rookie.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, Dynamic reporting, business intelligence dashboards, data visualizations

Why a single source of truth for data management is critical for HVAC&R company

Resolute Industrial (Resolute) is the largest independent provider of temporary HVAC&R solutions in North America. The Indianapolis-based company has around 250 employees that serve customers across all industries from more than 40 depot branches and sales offices. It has recently grown 3 times its size so the need for a single source of truth and the ability to manipulate and dig into its business and financial data is paramount. Resolute has an aggressive growth path through acquisition, so to seamlessly integrate data from a growing number of data sources and see the big picture is critical.

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Topics: Case Study, Business Intelligence Basics, Job Role - Finance, Industry - HVAC/Plumbing, Job Role - Executive, Financial Statements

How sharing data makes financial performance everyone’s responsibility

The finance team has always turned to numbers to answer its questions, and as the current economic environment has forced businesses to act faster, everyone needs real-time access to critical financial performance. Many finance teams follow the old method of storing information in a silo, and introducing new technologies seems like turning a giant wheel. Nevertheless, the finance teams can adopt new ways of working to share credible data.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, Dynamic reporting, business intelligence dashboards, data visualizations

How Trade Supply Group customizes financial statements across 14 locations

Trade Supply Group, New York, operates a number of companies that specialize in the distribution of building materials for trade and retail customers. Each company’s management operates autonomously while benefiting from the economies of scale that come from being part of a larger organization. Trade Supply Group added Phocas financial statements software to its tech stack which customizes and automates month end reporting across 14 operating locations, allowing branch managers to monitor financial performance and make fast, accurate decisions.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, Dynamic reporting

How to automate financial statements in minutes

What does the month-end look like in your business? Does the finance team spend a lot of time pulling data from your enterprise resource planning (ERP) system into spreadsheets so they can manipulate it into the standardised format? Is there a lot of wasted effort, double checking and renaming? For many, the process of preparing the data is a huge time waster and takes a lot away from analyzing the data. A new finance solution allows the accounting department to quickly customize and automate financial statements like the income or profit and loss statement and balance sheet in minutes.

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Topics: Business Intelligence Basics, Job Role - Finance, Financial Statements, Dynamic reporting, data analytics

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