Are spreadsheets ruining your relationship with financial analytics?
It’s 6.00pm on Friday night. Your desktop is a spreadsheet mosh pit and you’re drowning in numbers. While you’re meticulously pulling data, dumping it into Excel and manipulating it, your colleagues are already onto their 2nd beer.
This is not what you signed up for. Or maybe it is? But now you’ve lost trust in the data. Getting accurate info takes too long, version control is a nightmare and you’d rather be drinking beer.
Maybe it’s time to move on from manual workarounds. And turn your financial fantasies into reality.
How to find love in financial data
If analyzing numbers is your one true love, Phocas financial software will help you fall in love with data again.
Our intuitive technology takes the baggage out of manual planning and analysis, and focuses on the good stuff. It gives you fast, accurate results - on demand, wherever you are. It’s like the partner that knows what you’re going to say before you say it.
That’s because we’re committed to making our customers feel good about data. Here’s how.
Get on the same page with cloud collaboration
As you know, traditional spreadsheets shared between departments can get messy, clunky and inaccurate. Then, like a relationship that’s run its course, they’re quickly abandoned.
This leaves the finance team scrambling to chase and cross-check numbers against the clock. The result is a lifeless budget that doesn’t inform or inspire business decisions.
Now imagine budgeting software that allows several people – from different areas of the business - to work on the same worksheet at the same time? And then updates that data in real-time so that everyone in every area of the business knows what’s going on – at all times?
*cue angels singing *
Share data freely with secure, permission-based access
If you’ve made it through your career without accidentally emailing Susan Bridget’s salary, congratulations. You’re doing better than most.
The reality is, being the gatekeeper of a company’s ERP data is a big responsibility that’s often shouldered by the finance team. Without a system to safeguard a company’s data, it leaves you wide open to user errors, like accidentally sharing data.
Our purpose-built financial software is like a vault that everyone has access to.
It lets the rest of the business see the numbers, without risking the integrity of the data. Instead of everything falling on Finance, different departments can access, own and share ERP data freely in an encrypted environment.
Get out of a rut with dynamic reporting
It’s busy work navigating the competing demands of different business owners and branch managers. And manually breaking those numbers down can be a buzz kill.
Bring back the fun with automated financial statements. They are 300% faster than traditional methods and can be customized to each division’s needs in minutes. Split them any number of ways and to any level of detail – from high-level profit views to granular expense reports. And claim back your Friday afternoons.
Relaying information to the business this way helps non-finance types quickly understand the numbers and ensures companies make better decisions faster. Your job here is done.
Bring the romance back to financial statements
If spreadsheets are killing the romance, then automating your financial statements will bring back your passion for numbers.
- Instead of manually building statements, you can customize them in minutes.
- Instead of spending hours manipulating them, you’ll analyze them in real-time.
- Instead of pulling data from different sources, you can automate month-end statements. And enjoy a 50% reduction in close time.
You’ll also stay on top of your business performance, instead of chasing and cross-checking data 24/7.
Budget and forecast like a dream team
Having companywide input and visibility of what the numbers are doing in every area of the business will make budgeting and forecasting fun again.
- It’ll mean you can quickly identify trends and create repeatable processes.
- You’ll be able to play out different financial scenarios to understand variances.
- And you’ll quickly spot opportunities to grow.
Companies that use Phocas report a 40% increase in sales via new opportunities.
Customers are blown away when they see what's possible with Phocas. Take a guided trial of Phocas Financial Statements now and see if this relationship has a future.
Empowering businesses with intuitive data analytics, driving informed decisions for growth and profitability. We make people feel good about data.
Financial statement analysis: what's changing?
Financial statements are scorecards for businesses, allowing the finance team to interpret and analyze financial performance.
Break down data silos and improve business planning
The amount of data generated by finance, sales and operations teams is vast and complex, making it difficult for everyone to work together, plan and make data-driven decisions. The time spent on extracting data from multiple systems, formatting into spreadsheets and then loading into other programs is excruciating, and the time lost doing it, is taking its toll. Welcome to the world of data silos.
Central Data all in on Phocas partnership
Central Data has annually been recognized as one of Infor’s top distribution partners, being named North American Partner of the Year in 2020. The company’s consistency is a hallmark of its success and is a key reason for its longevity. It will celebrate its 50th anniversary in January 2023.
What are your company's most important financial ratios?
Companies that make data-driven decisions do better. While this is a common-sense opening line, you might be surprised at the number of businesses that only look at surface-level data like total sales. We’re not saying that in order to be successful you have to be data-obsessed, but sometimes you have to dig deeper into the data to make those bigger, more impactful decisions. Financial ratio analysis is an effective way to use data from your company’s financial statements, such as balance sheet, income statement, and cash flow statement, to gain vital information about your company’s performance and financial health. Today, we’re going to dive into the important financial ratios that can help you make revenue-generating decisions that get results.
Find out how our platform gives you the visibility you need to get more done.Get your demo today