Using Graphical Revenue Reports with Actual and Budget Comparisons to Streamline the Monthly Analysis Process
How can Graphical Revenue Analysis Drive Faster and Better Decisions?
As CFOs increasingly become key innovators in the Monthly Reporting and Analysis Process, they must rely on modern self-service corporate performance management (CPM) and business intelligence (BI) tools. Using graphical reports like the Revenue Analysis with Monthly Actual and Budget Comparison template shown below enables them and users from the FP&A teams and the board to experience near real time monthly variance- and trend analysis that help drive faster and better decisions.
Who uses Revenue Analysis Reports with Monthly Actual and Budget Comparisons and What are Some Key Analytical Features?
In today’s fast-paced business environment, CFOs are under high pressure to supply end users like executives and board members with timely and concise Revenue Analysis. Companies use key features like the ones below to support their users with effective reports that help drive better revenue analysis and faster decisions:
- Monthly and YTD revenue totals with variances to budget and last year actuals with drill-down to account level detail in the report section at the bottom
- Automatically calculated full year revenue estimate
- Monthly trend and variance charts comparing actual current year with budget and last year figures
The Revenue Analysis with Monthly Actual and Budget Comparison template can be used as a key element of the Monthly Reporting process:
(screenshot picture name for Google) -> The Revenue Analysis with Monthly Actual and Budget Comparison report is a ready-to-use template from the Solver Marketplace.
A Brief Description of the Revenue Analysis with Monthly Actual and Budget Comparison Template
Revenue Analysis Reports like the one seen in the image above are interactive and parameter driven and typically contain sections with charts, variances with traffic light, revenue summary and account-level detail. One of the important features that aid the user in the analysis process is the ability to get a powerful combination of summary metrics with traffic lights to highlight variances and charts to easily discover trends. Revenue reports with Monthly Actual and Budget Comparisons are often used in conjunction with profit & loss reports, revenue and sales dashboards, sales reports, and revenue budget input forms.
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: