How can Financial Statements Drive Faster and Better Decisions?

As Corporate Controllers increasingly become key advisors and innovators in the Monthly Reporting Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using interactive Financial Statements like the Consolidating Balance Sheet Report template shown below enables them and users from the parent company leader teams to experience near real time balance sheet metrics and results that help drive faster and better decisions.

Who uses Consolidating Balance Sheet Reports and What are Some Key Analytical Features?

In today’s fast-paced business environment, Corporate Controllers are under high pressure to supply end users like executive teams with timely and concise Financial Statements. Companies use key features like the ones below to support their users with effective analysis that helps drive corporate headquarter decisions:

  • Dynamic listing across columns of the selected subsidiaries
  • Expandable rows by GL account category and account
  • Variance analysis in amount and percent, and with indicators

The Consolidating Balance Sheet Report template can be used as a key element of the Monthly Reporting process:

Example of a Consolidating Balance Sheet Report to Streamline the Monthly Reporting Process

Example of a Consolidating Balance Sheet Report to Streamline the Monthly Reporting Process

The Consolidating Balance Sheet Report is a ready-to-use Financial Statement from the Solver Marketplace.

A Brief Description of the Consolidating Balance Sheet Report Template

Financial Statements like the one seen in the image above are interactive and parameter driven and typically contain sections with professionally formatted balance sheet layout and automated narrative. One of the important features that aid the user in the analysis process is the ability to easily see a side-by-side view of subsidiaries with consolidated totals. Consolidating Balance Sheet Reports are often used in conjunction with consolidating profit & loss and cash flow reports, balance sheet and KPI dashboards, and cash flow budget models.

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