Using 8 Quarter Rolling Balance Sheet Dashboards to Streamline the Monthly Reporting Process
How can Financial Dashboards 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 8 Quarter Rolling Balance Sheet Dashboard template shown below enables them and users from the finance and executive teams to experience near real time asset and liability trend analysis that help drive faster and better decisions.
Who uses 8 Quarter Rolling Balance Sheet Dashboards and What are Some Key Analytical Features?
In today’s fast-paced business environment, CFOs are under high pressure to supply end users like accountants and analysts with timely and concise Financial Dashboards. Companies use key features like the ones below to support their users with effective analysis that helps drive risk control and investment optimization:
- Asset and Liability tables with metrics by GL account
- Quarterly trend charts for Current Assets, Long Term Assets, Current Liabilities and Long Term Liabilities
- Period, company and other filters that dynamically drives the dashboard
The 8 Quarter Rolling Balance Sheet Dashboard template can be used as a key element in the Monthly Reporting process:
The 8 Quarter Rolling Balance Sheet Dashboard is a ready-to-use Financial Dashboard from the Solver Marketplace.
A Brief Description of the 8 Quarter Rolling Balance Sheet Dashboard Template
Financial Dashboards like the one seen in the image above are interactive and parameter driven and typically contain sections with interactive charts and indicators to analyze quarterly trends for any asset and liability GL account and sub-total. One of the important features that aid the user in the analysis process is the ability to instantly zoom in on any asset or liability by clicking on a row in the tables and see that item highlighted in the trend charts. 8 Quarter Rolling Balance Sheet Dashboards are often used in conjunction with balance sheet and cash flow reports, KPI dashboards, and cash flow budgets.
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
- Templates from Solver that are pre-built and that work out-of-the-box using the Solver CPM cloud. Click here.
- Template examples: You find more than 500 CPM and BI Template examples here.
- Interactive Dashboard examples: Try Power BI dashboard templates from Solver here.
- Software evaluation and selection:
- Vendor Comparison and ROI (free interactive tool)
- Evaluating planning, budgeting and forecasting functionality
- Evaluating Financial Reporting functionality
- Evaluating Dashboard functionality
- Evaluating Data Warehouse functionality to achieve “one version of the truth”
- Demonstrations and other specific assets: Solver Tour Central
- Using third party analysts and consultants to aid in vendor selection
- Creating efficient processes: