Written by Nils R. | May 26, 2021 7:00:00 AM
What is a
CFO Dashboard for Banks
? CFO Dashboards are considered financial analysis tools and are used by CFOs and analysts to track trends and key performance metrics. Some of the main functionality in this type of dashboard is that it provides financial analysis from nine different perspectives: 1) Actual and budget revenue by product, 2) Monthly actual and budget revenue trend, 3) Revenue by comparison by product, 4) Actual and budget revenue by department, 5) Monthly actual and budget expense trend, 6) Revenue comparison by department, 7) Actual and budgeted revenue by branch, 8) Actual and budget monthly profit trend, and 9) Revenue comparison by branch. You find an example of this type of dashboards below.
Purpose of
CFO Dashboards Banks use CFO Dashboards to give financial executives a clear picture of KPIs that drives the health of the business. When used as part of good business practices in Financial Planning & Analysis (FP&A) departments, a company can improve its financial performance and speed up related operational decisions, and it can reduce the chances that top level metrics are missed during financial analysis.
Example of a
CFO Dashboard Here is an example of a CFO Dashboard with revenue, expense and profit trends and budget comparisons. [caption id="" align="alignnone" width="2560"]
Example of a CFO Dashboards for Banks[/caption] You can find hundreds of additional examples
here
Who Uses This Type of
Dashboards
? The typical users of this type of dashboards are: Executives, board members, CFOs, analysts, branch managers.
Other Reports Often Used in Conjunction with
CFO Dashboards Progressive Financial Planning & Analysis (FP&A) departments sometimes use several different CFO Dashboards, along with consolidated and branch-level profit & loss reports, balance sheets, cash flow statements, detailed operating dashboards, and other management and control tools.
Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from loan management software and enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.
What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
- Native ERP report writers and query tools
- Spreadsheets (for example Microsoft Excel)
- Corporate Performance Management (CPM) tools (for example Solver)
- Dashboards (for example Microsoft Power BI and Tableau)
Corporate Performance Management (CPM) Cloud Solutions and More Examples
