How can Accounts Payable Reports Drive Faster and Better Decisions?
As Accounting Managers increasingly become key innovator in the Vendor Expense Analysis Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Accounts Payable Reports like the AP Trend Report by Vendor template shown below enables them and users from the finance and payables teams to experience near real time vendor expense trend analysis that help drive faster and better decisions.
Who uses AP Trend Reports by Vendor and What are Some Key Analytical Features?
In today’s fast-paced business environment, Accounting Managers are under high pressure to supply end users like controllers and AP managers with timely and concise Accounts Payable Reports. Companies use key features like the ones below to support their users with effective analysis that helps drive better and more informed purchase planning, rate negotiations, or department forecasting:
- Dynamic 13 month rolling view of vendor expenses
- Expenses summarized by vendor and month
- Total vendor expense amounts trended
The AP Trend Report by Vendor template can be used as a key element of the Vendor Expense Analysis process:
The AP Trend Report by Vendor is a ready-to-use Accounts Payable Reports from the Solver Marketplace.
A Brief Description of the AP Trend Report by Vendor Template
Accounts Payable Reports like the one seen in the image above are interactive and parameter driven and typically contain sections with monthly summarized payables data with monthly totals. One of the important features that aid the user in the analysis process is the ability to rolling monthly vendor expense view that helps discover anomalies and trends. AP Trend Reports by Vendor are often used in conjunction with AP detail reports, Top vendor reports, Accounts Payable and vendor analysis dashboards, balance sheets, and profit & loss variance reports.
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: