Achieving Revenue Growth and Better Cost Control with Modern Financial Reporting and Analytics Tools for Dynamics 365 Business Central

In today’s fast-paced business environment, decision-makers need accurate and timely financial information to achieve revenue growth and better cost control. Unfortunately, many companies still rely on inflexible report writers and homegrown Excel spreadsheets that can cause delays, errors, and difficulties in consolidating reports across subsidiaries. To overcome these challenges, businesses need modern corporate performance management (CPM) software that streamlines financial reporting and analysis and integrates tightly with their Dynamics 365 Business Central ERP system.

Top Challenges of Inflexible Report Writers and Homegrown Excel Spreadsheets:

  • Lack of web-based self-service analysis
  • Lack of drill-down to analyze reasons for variances
  • Long delays before reports are delivered to decision-makers
  • Cumbersome to consolidate reports across subsidiaries
  • Reports are prone to errors

Fortunately, modern cloud-based CPM software tools can address these challenges and support revenue growth and cost control by providing benefits like:

  1. Self-Service Reporting and Analysis: CPM software allows users to create their own reports and dashboards, eliminating the need for IT involvement and reducing the time and cost of report creation.
  2. Drill-Down Features to Analyze the Cause of Budget Variances: With CPM software, users can drill down into transaction-level detail to identify the root causes of variances, enabling faster and more accurate decision-making.
  3. Faster Month-End Close: CPM software automates the consolidation and reconciliation of financial data, reducing the time and effort required for month-end close.
  4. More Accurate Budgets and Reports: CPM software provides real-time access to financial data, ensuring accuracy and consistency across all reports and budgets.
  5. Faster and Better Decisions: By providing real-time access to financial data and analysis, CPM software enables decision-makers to make faster, more informed decisions.

In addition to these benefits, CPM reporting and budgeting tools can also make life easier for financial managers in charge of financial reporting and analysis by:

  • Providing more time for other tasks
  • Reducing the time spent answering questions from line managers to explain data in reports
  • Eliminating the need to learn new technologies
  • Providing career advancement opportunities

By deploying modern CPM software that integrates with their Dynamics 365 Business Central ERP system, businesses can achieve revenue growth and better cost control by streamlining financial reporting and analysis, reducing errors, and enabling faster and more informed decision-making.


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