A case study on simplifying the common financial reporting problems with DI.
Financial reporting from transactional systems typically results in static reports such as profit and loss, balance sheets, and cash flow statements. These generic reports are usually fixed and prevent any deeper analysis of the data. They are owned and managed by the financial department, making it difficult for department managers with financial responsibility to access and understand the reports. This prevents the managers from taking ownership of their department and acting swiftly to optimise their profit and loss. Individual departments managing their own reporting leads to multiple versions of the truth, opening the door to error and wasting time.
What are your thoughts on Toustone DI?
“Get on board! Take a look at the difference this can make for your business, providing accurate, efficient information with graphics to support, and let’s not forget the trend analysis!!”Australian Train OperatorNetwork Standards and Performance Manager
Ensuring that all data comes from one source and is easily available to those who need to access it is vital to accuracy and efficiency yet is often overlooked. Opportunities are missed due to a flawed process that limits action and the capabilities of the organisations.
Go to the next level beyond generic fixed reports so financial managers can drill down to deeper understanding of the data. Toustone’s dashboard reporting presents data in a visual way, highlighting trends, costs and revenue. It is easy for decision makers to look further into the numbers with just a few clicks to get a better understanding of the drivers behind the results.
Automated reporting makes data accessible to exactly who needs it. Department managers typically go to the financial team to validate their understanding of results, but now they can have the tools to drive insight and take charge of their department’s profit and loss with accessible and easy to understand reports. Managers automatically have up-to-date dashboard reporting at their fingertips, so they don’t have to go through the financial team, saving time and effort.
Our reporting solution ensures that all data is sourced from one data warehouse, eliminating errors created by multiple data sources. This allows every person to rely on the data and make decisions with confidence. Time saved on reporting can now be spent on taking action that drives results.
“Working with Toustone has been great. They have been able to effectively capture information off multiple platforms and automate it. The solution has definitely made the backend of the office more efficient by getting all that data into one spot. Their personal insight continues to provide different ways to look at the data and get more out of it.”Mat WellBusiness Systems Analyst at Lawson Grains
Key business outcomes
- Visual financial reports delivered to department managers
- Dive deeper into the data to see what is driving results
- One source of data for confident decision-making
- Up-to-date information, every time!