Boost MYOB reporting and analytics

Yes - Phocas specializes in combining business data, most often ERP and financial data, with other operational data sources. Providing one trusted platform to measure, track and plan your ongoing business operations quickly and easily.

Phocas started as a BI solution, so we understand the ins and outs of data manipulation. Our customers loved the enhanced capabilities that Phocas brought to their ERP that they started asking for financial analysis and budgeting and forecasting capabilities too.

Our focus is creating software and tools that anyone in your organization can use to understand sales, operations and logistics, making sure that your team can plan and forecast based on a solid foundation of trustworthy data.

Data analytics, or business intelligence (BI), is the process of interpreting key business data to understand how an organization is performing, both financially and operationally.

Data analytics software is designed to retrieve, analyze, transform, and report on business data and metrics. This software provides organizations with an integrated view of their overall business by combining multiple data sets, such as enterprise resource planning (ERP) systems, CRM, HR, Payroll and e-commerce. BI can also be used to identify trends, uncover insights, and make informed business decisions.

Financial statement software is a program designed to automate the process of creating reports such as profit and loss (income statement), balance sheet and cashflow statements. It achieves this through the extraction of real-time data from ERP, CRM and multiple other data sources, and helps to ensure accuracy, consistency, and compliance with accounting standards.

Statements are fully customizable to suit your business needs with an intuitive interface that enables free-form data analysis. Visualizations such as dashboards, graphs, charts and Sparklines also help to connect the wider business to performance as it's easy to provide an at-a-glance view of your finances.

There are several benefits of using a Bssiness Intelligence and Financial Planning and Analysis platform over Excel or other manual reporting methods:

1. Time-saving: It frees up the finance team from time-consuming reporting tasks by automating entire processes, allowing for faster reporting, consolidation, and customization.

2. Accuracy: Data is pulled directly into the platform which ensures accuracy and reduces the risk of errors that can occur when maintaining and reworking static spreadsheets for financial reporting or budgets and forecasts.

3. Standardization: It enforces standardization across financial statements, budgets and reports to ensure consistency and enables comparisons across different periods.

4. Collaboration: It enables teams to collaborate and work simultaneously in a secure and auditable environment. This can improve communication and reduce the risk of data discrepancies.

5. Reporting: It provides advanced reporting capabilities, such as customizable templates and interactive dashboards. This makes it easier to visualize data and identify patterns and trends.

6. Security: It provides better security features than Excel, including data encryption, user access controls, and audit trails. This can help protect sensitive financial data from unauthorized access or modification.

7. Customizable: You can add calculations to the statements such as EBIT, margins and ratios

While Excel can be a useful financial reporting tool, a complete platform of analysis, financial statements, budgets and forecasts, and rebates tools can help businesses streamline their financial reporting processes, improve accuracy, and make better, faster decisions based on real-time data.