Financial professionals want to understand the causes of deviations from financial goals. This means, in addition to relevant management reports focused on mapping financial performance and risks, there is often a need for deeper analyses such as root cause and exception analyses.
Our data-driven management reports automatically retrieve data from relevant financial source systems and are updated automatically based on a pre-agreed frequency. Financial professionals can view key financial performance developments in intelligent dashboards. We create custom dashboards, not generic ones.
When it comes to deeper analysis, such as identifying the causes of deviations, we define the “why” question upfront. Root cause and exception analyses may focus on issues like incorrect discounts linked to invoicing rules, incorrect credit notes, duplicate payments, or analyses of services and/or products without invoicing. The goal is always to gain relevant insights and resolve the challenges faced by financial professionals.
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.
Request a DemoEvery financial package or operational system today has a dashboard. These are generic dashboards, which may be sufficient for gaining quick insights into day-to-day topics. However, they rarely address the core issues and seldom align with the concerns of financial professionals. Every financial professional and every business is unique. We translate these unique characteristics into a custom dashboard for financial professionals. These data-driven management dashboards meet several key criteria:
We enjoy working with financial professionals who share our data-driven mindset. This collaboration stems from a shared belief that focusing on relevant insights empowers financial professionals. Focus on What’s Going Well and What Needs Improvement.
When it becomes clear that performance is consistently lagging expectations or when trends deviate from recent historical patterns, it’s time to explore the underlying financial issues further. These are the root cause and exception analyses. Before beginning, we discuss the scope, timeline, and fees for these additional analyses. Findings are shared through intuitive visualizations in our Data Portal, powered by Tableau.
Recent data analysis challenges for financial professionals are:
In the roadmap below you can follow the steps we will take through the process together.
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.
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.
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?
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.
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.
Relevant insights help make the right decisions. In a constantly changing world, businesses must adapt and tackle challenges. What’s going well, and which issues need further exploration and research?
Every business has some form of management information available. Often, it’s a collection of Excel documents that have developed over time. There’s an abundance of data, but not necessarily an abundance of information.
In practice, we see that the demand for relevant insights is always evolving. Additionally, some issues require in-depth investigation to uncover the causes of deviations and address disappointing performance.
We are eager to meet data-driven professionals. We enjoy discussing how we can help entrepreneurs by focusing on the right questions, providing relevant insights, and, when necessary, conducting deeper analyses on business challenges.
We work well with financial professionals. With our background in audit and the broader accounting field, we understand the financial side. We actively collaborate in setting up relevant financial dashboards that focus on financial performance, transparency of risks, and the identification of exceptions.
We also collaborate closely with business controllers, where the focus shifts more toward business performance. Where are deviations occurring? How do you interpret trends? Where are the opportunities to turn data into relevant business insights? In a more business-oriented dashboard, ESG/CRSD is now included, but there’s also increasing demand for operational performance insights.
Our collaboration with auditors is in our DNA as data-driven auditors and analysts in the broader assurance domain. Over the past few years, we’ve supported numerous accounting firms with concrete Audit Analytics support. While we are never in the lead of an audit, we assist the team with a set of data-driven audit steps, including data scripting, analysis, and visualizing findings for the audit file.
More and more regulators (supervisory boards, boards of trustees) want concrete insights into the organizations they oversee. Periodic PowerPoint presentations are useful, but by 2025, there will be opportunities for supervisory teams to access actual KPIs, trends, and underlying facts themselves. We are eager to collaborate with businesses and organizations to create a relevant overview for supervisors. This often involves a set of broader, smarter metrics that address various important topics.