Analytics in the Financial World

Reporting, Analytics & Information Delivery Inside the Finance World

Reporting, analytics and information delivery can have a transformational impact on any financial organisation if applied correctly. Reporting and analytic faculties that process timely data amplify an enterprise’s ability to make more informed, evidence-based decisions. To implement an inclusive business intelligence platform, organisations need to draft an effective reporting, analytics and delivery framework. This strategy comprises an end user’s ability to consume integrated data in a structured manner and hence, drive decision making.

What Is Financial Reporting?

Financial reporting is when the financial results of an organisation are released to its stakeholders and the public. It enables enterprises within the financial sector to apprehend their fiscal position and to better align themselves with their financial goals.

In other words, communication of financial information to people outside of the organisation can involve:

Different Ways Of Financial Reporting & Analysis

Financial reports detail financial information which is used for the purpose of fiscal planning, analysis, benchmarking and decision making. In addition, the reports inform and enable investors, promoters, debt providers and creditors to make rational and prudent decisions regarding investments like mutual funds. Financial Reporting and Analysis also provides information about the economic resources of an organisation, their claims to those resources; specifically, their liabilities and owner’s equity, and how these resources and claims have changed over a period of time. The reports also inform various stakeholders regarding the performance management of an organisation, namely, that they are discharging their fiduciary responsibilities diligently and ethically. These methods of financial reporting and analysis can ultimately raise capital both domestically and internationally.

The components of financial reporting and analysis are:

Why Is Financial Reporting Important?

Primarily, financial reporting is required by all businesses by law but can differ depending on which standardisation procedure your country follows. Financial reporting allows finance teams to dig deeper into expense, procurement, and contract data to discover the real cost of doing business while identifying new ways to reduce costs and increase profitability. With a real-time management dashboard, your company can observe its financial integrity at a moment’s notice. This data can consequently transform your business and how your company does its business.

Discover All the Connections Inside Your Data

Qlik's powerful Associative Engine lets you combine multiple, complex sources of data that can be explored in any direction. Using Qlik’s Financial Analytics software, you can analyse financial performance, develop forecasts and run highly flexible financial simulations. These simulations empower your organisation to ask questions and explore new possible outcomes, or dig deeper into past events. Also, the software presents the performance benefits that organisations have attained from implementing modern analytics strategies and processes, demonstrating ROI in real-time.

Horsa offers customised Data & Analytics (D&A) implementation programmes and Managed Services for solutions based on Qlik, PowerBI, Tableau and other comparable softwares.

With over 20 years of experience, we'll ensure you get the most out of your data.

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