Achieving Revenue Growth and Better Cost Control through Modern Reporting and Analysis with Sage Intacct CPM
Modern financial reporting and analytics software tools have become indispensable to businesses seeking to achieve positive outcomes like revenue growth and better cost control. Deploying corporate performance management (CPM) software that streamlines financial reporting and analysis and integrates tightly with the company’s Sage Intacct ERP system can be particularly effective in meeting these objectives. In this blog, we will explore the challenges faced by companies using inflexible report writers and homegrown Excel spreadsheets and how modern cloud-based CPM software tools can help resolve these issues and support revenue growth and cost control.
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
The list above is not exhaustive, but it highlights some of the significant challenges that businesses face when using inflexible report writers and homegrown Excel spreadsheets. These challenges can make it difficult for decision-makers to access accurate, timely, and actionable information, hindering their ability to make informed decisions that support revenue growth and cost control.
Benefits of Modern CPM Software Tools Integrated with Sage Intacct
- Self-service reporting and analysis
- Drill-down features to analyze the cause of budget variances
- Faster month-end close
- More accurate budgets and reports
- Faster and better decisions
Modern cloud-based CPM software tools can help businesses overcome the challenges mentioned earlier by providing self-service reporting and analysis, drill-down features that enable users to investigate the cause of budget variances, and faster month-end close. Such tools can also provide more accurate budgets and reports, enabling decision-makers to make informed decisions based on reliable data. Faster and better decisions can help businesses achieve revenue growth and better cost control.
How CPM Reporting and Budgeting Tools Make Life Easier for Financial Managers
- More time for other tasks
- Less time spent answering questions from line managers to explain data in reports
- Learning new technologies
- Career advancement opportunities
CPM reporting and budgeting tools can make life easier for financial managers by freeing up time for other tasks, reducing the need to answer questions from line managers to explain data in reports, and providing opportunities for learning new technologies and advancing their careers.
In conclusion, deploying modern cloud-based CPM software tools that integrate directly with the Sage Intacct ERP system can help businesses overcome the challenges associated with inflexible report writers and homegrown Excel spreadsheets, enabling decision-makers to access accurate, timely, and actionable information that supports revenue growth and cost control. By providing self-service reporting and analysis, drill-down features, faster month-end close, more accurate budgets and reports, and faster and better decisions, CPM software tools can help businesses achieve their objectives while making life easier for financial managers.
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