The static use of financial data and only providing monthly reports offering insight into the financial situation are a thing of the past. Nowadays, it’s essential to have real-time insights into business operations.
Think of financially driven reports for project statuses, work in progress, outstanding items, orders to be invoiced, bank positions, and cash flow forecasts. Traditional financial statements such as Profit and Loss, Balance Sheet, and Cash Flow Statement can also be successfully generated within a Business Intelligence environment. This saves manual work, keeps data always up to date, and allows you to drill down to the level of individual financial transactions.