Gone are the days when the finance world used Microsoft Excel; the pursuit of business success has revolutionized. By taking into consideration all complexities of the 21st century and all the variances it has to offer, financial planning and analysis can no longer be left to such a simplified software.
Stringent security standards, compliance levels as well as amplified intricacies within organizations today demand the use of advanced programs for integration. Moreover, with extensive amounts of data, a variety of technical systems and sources; a compilation of information needs to be error-free, reliable and entirely valid for true success.
How do finance teams operate in a fast-paced circle?
Verily to manage financial planning and analysis, Power Bi is gaining traction as an optimal solution. The programs ever-expanding user base is an ode to its efficiency; in that, Bi reporting automates information from different systems and sources into a singular format supported by a user-friendly interface. Historical data is presented through effective financial models, whereby managers can utilize visual representations made available to them without running the risk of human error. This kind of financial planning can create reports that lay the groundwork for business strategy, overall direction and technical controlling within an organization.
Crucially, the role of Power Bi is to deliver actionable insights, but that doesn’t mean it never lags. Which is to say that there is definite room for improvement in the areas of driver-based planning and what-if analysis; and hence, in integrated planning and forecasting. In this case, Power Bi becomes inadequate on its own, and we must find a fix for that ourselves. While the deal with managing forecast data is indeed an unpleasant surprise on the software’s part, there’s always another way to deal with it.
A lack of connectivity
Our business planning consultants have been engaged in the relevant field for quite a while, which helps in fetching the root cause of the problem; a glaring lack of connectivity between two tools. To be precise, the financial planning tool isn’t ideally cohesive with its analytics counterpart. Consequently, a considerable portion of time is wasted on menial work instead of answering important questions for the business. In turn, this redundancy gives way to excruciatingly average assistance for decision-makers.
To reap the benefits of a complete Corporate Performance Management system, one needs Kepion. The Microsoft Business Intelligence platform possesses a treasure trove of extremely powerful tools and forecasting with Kepion delivers accordingly. Furthermore, its planning and budgeting features make it competently serviceable.
Business personnel seek the full package without any compromises on relevant metrics. What makes Power Bi and Kepion especially suitable is their ability to come full circle. In detail, the solution’s capabilities span over complete functionality, whereby everything is covered. For people who need an expert opinion on how to get started, reach out to a DFSM Power BI consultant. You’ll get complete assistance on how to use the tools and data analytics to your advantage. The services provided cover with every aspect of implementing the software to elevate your company’s financial planning and analysis.