Using Balance Sheet Variance Dashboards to Streamline the Monthly Analysis Process

    How can Financial Dashboard s Drive Faster and Better Decisions? As CFOs increasingly become key advisors in the Monthly Analysis Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Financial Dashboards like the Balance Sheet Variance Dashboard template shown below enables them and users from the FP&A team to experience near real time asset and liability analysis that help drive faster and better decisions. Who uses Balance Sheet Variance Dashboard s and What are Some Key Analytical Features? In today’s fast-paced business environment, CFOs are under high pressure to supply end users like executives and the finance team with timely and concise Financial Dashboards. Companies use key features like the ones below to support their users with effective analysis that helps drive smart management of cash, receivables, payables and related processes.
    • Interactive Actual versus Last Year variance tables by GL account
    • Actual versus Last Year charts for Current- and Long Term Assets and Liabilities
    • Variance (%) charts for Current and Long Term Assets and Liabilities
    The Balance Sheet Variance Dashboard template can be used as a key element of the Monthly Analysis process: [caption id="" align="alignnone" width="2560"] Example of an Balance Sheet Variance Dashboard to Streamline the Monthly Analysis Process Example of an Balance Sheet Variance Dashboard to Streamline the Monthly Analysis Process[/caption] The Balance Sheet Variance Dashboard is a ready-to-use Financial Dashboard from the Solver Marketplace A Brief Description of the Balance Sheet Variance Dashboard Template Financial Dashboards like the one seen in the image above are interactive and parameter driven and typically contain sections with matrix reports that can be sorted by variance percent, as well as comparative charts. One of the important features that aid the user in the analysis process is the ability to click on any account row in the tables and see that GL account highlighted as a portion of each chart. Balance Sheet Variance Dashboards are often used in conjunction with revenue, expense and KPI variance dashboards. Data Integration to Transaction Systems Most organizations these days want automated and streamlined planning, reporting and analysis. However, many of the benefits described earlier rely on best of breed Corporate Performance Management (CPM) tools and/or Business Intelligence (BI) capabilities as well as data marts or data warehouses that use pre-built integrations to the organization’s ERP system. Oftentimes, they also need integrations to other key data sources like CRM, subscription systems, payroll tools, etc. Modern, cloud-based ERPs like Microsoft Dynamics 365 Finance (D365 Finance), Microsoft Dynamics 365 Business Central (D365 BC), Sage Intacct, Acumatica, Netsuite and SAP have robust APIs which allow for dynamic integrations to CPM and BI tools that are fully automated and flexible to run on a schedule or on-demand. Additional Resources to Aid with Research of Templates, CPM and BI Tools