Using KPI Benchmarking Dashboards to Streamline the Monthly Reporting Process

    How can Financial Dashboard s Drive Faster and Better Decisions? As CFOs increasingly become key advisors in the Monthly Reporting Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Financial Dashboards like the KPI Benchmarking Dashboard template shown below enables them and users from the board and executive teams to experience near real time profit & loss and balance sheet KPIs that help drive faster and better decisions. Who uses KPI Benchmarking 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 board members and leaders with timely and concise Financial Dashboards. Companies use key features like the ones below to support their users with effective analysis that helps drive performance optimization across subsidiaries:
    • Year-to-date (YTD) Revenue, Gross Profit and EBITDA metrics for the selected business unit benchmarked against the average of all business units
    • Charts comparing the benchmarked entity versus the average of all business units
    • Table with Current Ratio, Debt to Asset Ratio and Debt to Equity Ratio
    The KPI Benchmarking Dashboard template can be used as a key element of the Monthly Reporting process: [caption id="" align="alignnone" width="2560"] Example of a KPI Benchmarking Dashboard to Streamline the Monthly Reporting Process Example of a KPI Benchmarking Dashboard to Streamline the Monthly Reporting Process[/caption] The KPI Benchmarking Dashboard is a ready-to-use Financial Dashboard from the Solver Marketplace. A Brief Description of the KPI Benchmarking Dashboard Template Financial Dashboards like the one seen in the image above are interactive and parameter driven and typically contain sections with KPIs displayed with charts and traffic lights to highlight variances. One of the important features that aid the user in the analysis process is the ability to on the fly analyze and benchmark financial performance of any business unit against a chosen set of subsidiaries. KPI Benchmarking Dashboards are often used in conjunction with financial dashboards, consolidated and individual profit & loss and balance sheet reports, and input models for KPI targets and budgets. 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