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It is a cloud-based FP&A solution aimed at reducing reliance on traditional spreadsheets and manual data entry. Primarily built for large enterprises and growing mid-sized businesses, the platform supports finance teams in budgeting, forecasting, workforce planning, and financial close processes. Who Its Meant For?
Accounting has evolved quite a bit since the early days of double-entry systems and generalledgers. It replaces static spreadsheets with a cloud-based financial tool that gives role-based access to data in real time. Siloed financial data can lead to false assumptions because insight isn’t based on a complete picture.
Freed from the shackles of a siloed, legacy tool like Excel and managed instead within strategic FP&A solutions, budgets become living, evolving documents that finance teams can use as an in-house planning tool, updating monthly, quarterly or on an ad-hoc basis. Finance at the Speed of Business. Who should be involved?
This trend is driven by the need for real-time dataanalysis and insights to make informed business decisions. Specific to the automation of finance and accounting processes, can you identify the top three areas mid-size enterprises are prioritizing to automate?
This is because Excel is easy to use and personal finances often require simple formulas and data entry. To successfully budget, you need access to each data source and up-to-date data. Consolidating your financial data across several generalledgers quickly becomes complicated when you use spreadsheets.
Disadvantages of Excel for Financial Forecasting While Excel is not necessarily bad for dataanalysis or financial forecasting, it may not be the best option available to your business. Limited Visibility To conduct financial dataanalysis, your business needs to test various hypothetical scenarios.
While Excel is not necessarily bad for dataanalysis or financial forecasting, it may not be the best option available to your business. To conduct financial dataanalysis, your business needs to test various hypothetical scenarios. Excel spreadsheets may not be ideal for storing historical data.
That's the dynamic running rampant across industries right now, with finance organizations pushing Excel past its natural limits and, in turn, preventing their companies from taking a deep dive into the business intelligence pool. Alteryx Use Cases for Finance Professionals and Functions. Data requirements. Data structuring.
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