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Today’s finance organizations no longer simply close the books at month end, perform statutory reporting, and then comment on the health of the balance sheet at quarter end. Today’s finance departments are proactively shaping the outcome by creating and publishing key financial metrics that drive organizational performance. Revenue, expense, and accounts receivable analysis will not wait till the end of the reporting period. Innovative finance departments are adopting solutions to automate the integration of daily performance data that is published in performance dashboards. The detail in this level of performance data takes it beyond the practicality of spreadsheets.
The financial professionals and managers across the organization can monitor performance, analyze specific metrics, and compare them to budgets or performance benchmarks. They can spot deviations and take action to correct them before they become problems.
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Benefits of OBIEE - Finance:
- Receive intraperiod information on income statement, cash flow, and balance sheet condition without having to perform consolidations or wait for books to close
- Drive financial accountability to department managers by providing timely information to help better budget management
- Increase cash flow and working capital through more effective receivables, payables, and inventory management
- Provide each user with timely and in-context financial and cost information to improve decision-making
- Drive budget accountability down to departmental managers and provide them daily visibility into budgeted versus actual performance.
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Tools:
- General Ledger, Profitability and Budget Analytics.
- Payables Analytics.
- Receivables Analytics.
Potential uses:
- Segment information on costs and revenue by product, geography, region, or customer.
- Manage cash flow by understanding how billing and collections functions are performing.
- Analyze payments and inventory levels for optimization.
- Improve cash collections by identifying slow-paying customers or billing issues and reducing days sales outstanding.
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