Financial reporting is an essential aspect of any business as it helps in making informed decisions. It is even more crucial for companies that use an ERP system like Dynamics 365 Business Central. The ERP system stores critical data that businesses need to generate reports for various stakeholders. To get the most out of Dynamics 365 Business Central, it is essential to use a third-party financial reporting tool that integrates with the ERP system seamlessly.
When evaluating financial reporting tools, it is essential to consider the following key functionalities:
When evaluating financial reporting tools, it is essential to consider the following key functionalities:
- User-friendly interface - The financial reporting tool should have a user-friendly interface that is easy to navigate and understand.
- Customization - The tool should allow for customization of reports to meet the specific needs of the business.
- Integration with Dynamics 365 Business Central - The financial reporting tool should integrate seamlessly with the Dynamics 365 Business Central ERP system to ensure that the data is accurate and up-to-date.
- Report generation - The tool should have the ability to generate reports quickly and efficiently.
- Data visualization - The financial reporting tool should have the ability to visualize data in various formats, such as graphs and charts, to help make the information more digestible and easier to understand.
- Security - The financial reporting tool should have robust security features to protect sensitive data.
- Data sharing - The tool should allow for easy sharing of reports with stakeholders both within and outside the organization.
- Technical support - The financial reporting tool should have excellent technical support to assist users in case of any issues or technical difficulties.
- Time-saving: With advanced features like automated report generation and real-time data updates, a modern report writer can significantly reduce the time spent on manual data entry and report generation.
- Customization: The ability to customize reports to meet specific reporting requirements can save power users a significant amount of time and effort, as they no longer have to create reports from scratch.
- Data visualization: Advanced data visualization capabilities, such as interactive dashboards, can help power users quickly understand and interpret large amounts of data.
- Improved accuracy: Automated report generation and real-time data updates can significantly reduce the risk of errors and ensure that reports are accurate and up-to-date.
- Increased efficiency: With the ability to perform multi-dimensional analysis and drill down into data, power users can gain a deeper understanding of the data and make more informed decisions.
TAGS: Reporting, Consolidation, CPM, KPIs, ERP, FP&A, Partners, Financial Reporting, Compare CPM