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With real-time reporting, see what’s happening—as it happens
Intuitively, many of us recognize that the decision window for executives has been shrinking with each passing year. Information dissemination has become real-time and on-demand; however, the challenge for many finance functions is to try and keep pace with all the modern sources of insight and analysis that internal and external stakeholders are receiving.
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Virtually every finance team wants to see faster closes that minimize the time required to issue monthly or quarterly financials. The good news—many of these same techniques that accelerate the closing process actually enable a more sophisticated level of real-time reporting, so the entire company is aware every day about how the company is performing.
When your financial software is updated and delivering data in real-time, you can issue a wider array of reports faster and more frequently. And that frequent reporting takes pressure off the month-end financial report because managers and executives already have a handle on problems and are already acting to find solutions. With real-time reporting, your company can monitor and react to issues to improve performance.
Another key to real-time reporting and analysis: a cloud-based accounting solution that pulls in data from different entities and sources. This eliminates the time-wasting hand-offs, manual data entry, external spreadsheets, and the associated errors that can slow down your financial reporting.
Intacct cloud ERP provides allows you to quickly create real-time reporting to analyze business performance. Contact us to learn more.