Using Revenue 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 Revenue Benchmarking Dashboard template shown below enables them and users from the board and executive team to experience near real time revenue metrics that help drive faster and better decisions. Who uses Revenue 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 corporate strategy and optimal KPI targets:
    • Year-to-date (YTD) revenue views with the chosen business unit benchmarked against the average of all business units
    • Chart comparing Year-to-Date (YTD) Actual and Budgets for the chosen business unit with the average of all units
    • Monthly chart comparing Actual and Budgets for the chosen business unit with the average of all units
    The Revenue Benchmarking Dashboard template can be used as a key element of the Monthly Reporting process: [caption id="" align="alignnone" width="2560"] Example of a Revenue Benchmarking Dashboard to Streamline the Monthly Reporting Process Example of a Revenue Benchmarking Dashboard to Streamline the Monthly Reporting Process[/caption] The Revenue Benchmarking Dashboard is a ready-to-use Financial Dashboard from the Solver Marketplace. A Brief Description of the Revenue Benchmarking Dashboard Template Financial Dashboards like the one seen in the image above are interactive and parameter driven and typically contain sections with revenues tables linked to comparative YTD and monthly charts. One of the important features that aid the user in the analysis process is the ability to instantly zoom in on figures from any Revenue Category or Account by clicking on a row in the tables and see that item represented by the charts. Revenue Benchmarking Dashboards are often used in conjunction with expense, balance sheet and KPI benchmark dashboards, consolidated and individual financial reports, and revenue budget models. 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