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Analytics for Business controllers

Gain insights into your own business

Business controllers want to understand the cause of deviations from goals. This means that, in addition to relevant management reports focused on mapping business performance, there is also a need for more in-depth (business) analyses such as root cause and exception analyses.

Our data-driven management reports automatically retrieve data from relevant source systems and are updated automatically based on a pre-agreed frequency. Business controllers can view how key business performance is developing through intelligent dashboards. We create custom dashboards, not generic ones.

When it comes to further analysis, such as identifying causes of deviations, we define the “why” question upfront. Root cause and exception analyses may focus on revenue and margin analysis at the product and customer level, analysis of both successful and less successful business activities, analysis of maintenance costs, and/or analysis of services and/or products without invoicing. It is always about gaining relevant insights and solving business controlling challenges.

Do you have questions about analytics? We are happy to advise you!
0900 024558
info@coneyminds.nl

Custom-designed Tableau System

Since 2010, we have been working with Tableau, the most advanced data visualization solution currently available on the market. With Tableau, we can transform data into relevant insights at lightning speed. Through 24/7 accessible view options, we share and update these insights seamlessly.

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Financials want relevant financial insights

Every financial package or operational system nowadays has a dashboard. These are generic dashboards that may sometimes be sufficient for quickly gaining insight into day-to-day matters. However, they rarely get to the core and seldom address the issues that financial professionals face. Every financial professional, every business is unique. We translate these unique characteristics into a custom dashboard for business controllers. These data-driven management dashboards meet several key characteristics:

  • Custom-built
  • Focused on what is relevant for the business controller
  • Access to underlying transactions
  • Automatic updates based on a pre-agreed frequency
  • Adaptable to new circumstances

We enjoy working with business controllers who share our data-driven mindset. This collaboration arises from the shared belief that focusing on relevant insights empowers the business controller. Focus on What is going well, What needs improvement?

When it becomes clear that performance is consistently falling short of expectations or when trends arise that deviate from patterns in recent history, it’s time to investigate the underlying business performance issues. These are the root cause and exception analyses. We will discuss the scope, timeline, and fees for these additional analyses in advance. Findings are shared through intelligent visualizations in our Data Portal, powered by Tableau.

Recent data analysis challenges for business controllers include:

  • Insights into the development of revenue and margins, and analysis of deviations from performance compared to internal norms and/or expectations
  • Geographical spread of revenue
  • In-depth insights into inventory performance
  • Soll vs. IST analysis for revenue, based on capacity analysis
  • Insights into the development of specific cost groups such as R&D, Marketing & Sales, and Maintenance costs
  • Analysis of ESG performance compared to internal benchmarks

The Roadmap to Insights with Analytics

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1

Developing the Strategy

We begin by discussing the “why” question: which analyses are relevant, and which smart metrics provide the desired insights? We also define the update frequency for the smart metrics and the follow-up process: what actions will be taken based on the results? We listen and translate the smart metrics into the required data elements and corresponding KPI definitions. Regular meetings are held to refine the smart metrics and adjust them to new standards and expectations. If deeper root cause or exception analyses are required, we define the scope, depth, and additional costs for these analyses upfront.

2

Developing the dashboard

Dashboard development begins with a “concept.” This includes defining the smart metrics and sharing example visualizations. Together, we determine how to present the insights in the most valuable way.

3

Data integration

A key part of the process is identifying how the required data elements, stored in underlying source systems, can be accessed. For example, can this be done automatically via an API connection, or is a custom data extraction solution required?

4

24/7 Dashboard Access

Dashboards are automatically updated based on a pre-agreed frequency. Using Tableau, which operates within our Data Portal, we provide access through View licenses linked to individual users. Everyone with a View license can securely access the dashboards 24/7 via laptop or mobile device.

5

Exceptions & trends

Data analysis is an efficient way to gain relevant insights. It becomes truly effective when exceptions from expected performance or trends are followed up on. We actively monitor, provide input, and, where necessary, initiate deeper root cause and exception analyses.

Do you have questions about analytics? We are happy to advise you!
0900 024558
info@coneyminds.nl

We specialize in auditing the annual accounts, support data-driven companies with analytics issues and with iAccountancy we not only focus on compiling the annual accounts, but combine this with smart performance dashboards and tax returns.

Solutions
Coney Minds
Get in contact
Van Nelleweg 2521
3044 BC Rotterdam
info@coneyminds.nl
+31 (0)10 284 92 88
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