Financial reporting meets ad-hoc analysis

Transcription

1 Financial reporting meets ad-hoc analysis

2 CXO Software and cubus outperform EV Analytics Combining unparalleled financial reporting and ad-hoc analysis CXO Software and cubus AG have joined forces in a strategic partnership. Both companies believe in combining the power of modern out-of-thebox dashboards with the strength of ad-hoc analytic possibilities. Our shared aim is to provide the Office of Finance with unparalleled financial reporting and analytics capabilities. CXO Software s financial and performance reporting platform helps Finance teams all over the world to enhance all aspects of the reporting cycle. With the cubus outperform EV Analytics tool, cubus AG offers the flexibility that these professionals need in order to perform ad-hoc analysis. Together, we provide relevant financial reporting dashboards and actionable insights that help to speed up C-level decision-making. cubus AG draws on 25 years of experience in enterprise planning and performance management. Based in Germany, the company uses state-of-the-art technologies and combines preconfigured components with tailored elements that make creating your own ad-hoc analysis effortlessly simple. cubus delivers analytics with an edge providing companies with clear insight into the organization s business processes and KPIs. Users can then dive deeper into their data with drill-down, drill-through and drill-across functionalities. 2

3 The best of both worlds for Finance teams As the third decade of the 21st century approaches, the days of the Finance function simply playing the role of the company record keepers should be long gone. Today s CFO is expected to be a go-to business advisor for the entire organization. They must provide strategic insight quicker, more accurately and more efficienctly, anytime and anywhere. Meanwhile, the Finance function, as a whole, should be actively communicating with the entire organization helping to analyze the past and provide guidance on the future. However, financial reporting teams often lack the support they need to become drivers of strategic change. With limited time at their disposal, many still rely on manual performance reporting systems. These inefficient processes leave managers struggling to meet fixed deadlines and ever-rising quality benchmarks. And with reporting cycles typically taking anywhere from 5 to 15 days, Finance staff face an uphill battle to provide colleagues with value-added analysis and actionable insights. It s little wonder that according to a recent EY study only 48% of CFOs say their team s reporting is effective in securing the confidence of the board. Fortunately, there is a better solution Together, CXO Software and cubus AG are helping Finance professionals move beyond the confines of static, standardized reporting by enabling true strategic insight. Our unique partnership gives Finance teams the best of both worlds: flexible out-of-the-box reporting platforms and powerful ad-hoc analysis. What this all adds up to is a best-in-class financial reporting solution. A solution that allows time-pressed Finance professionals the speed, control and agility they need to deliver cuttingedge insight and to truly add value to executive workflows. 4

4 What is ad-hoc analysis? Ad-hoc analysis is a revolutionary business intelligence (BI) process designed to answer a single, specific business question. The product of ad-hoc analysis is typically a statistical model, analytic report, or any other form of data summary. How is it different to standardized reporting? Unlike standardized, static reporting, ad-hoc analysis doesn t rely on rigid spreadsheets and Excel templates, Nor does it leave Finance teams reliant on IT for their information. When it comes to financial reporting, ad-hoc analysis gives Finance professionals far more flexibility and room for maneuver, resulting in increased collaboration and insight throughout the reporting process. What s more, it enables the Finance teams to determine which source they pull their data from, and then choose how this data is presented. What are the advantages for your organization? Ad-hoc analysis delivers richer, deeper insights to end-users than standardized reporting processes. It enables true self-managed financial reporting, allowing the Finance function access to all the data they need, and greater control and visibility over their workflow. cubus outperform EV Analytics also makes it easier for Finance teams to collaborate, and for different team members to add their own analysis and insights. This information can then be shared easily with colleagues across the organization either as a standard report or as a dashboard all from the same intuitive interface. Ad-hoc analysis plugs the gaps left by today s standardized financial reporting processes: BUILD brand new reports from the same original source data. DRILL DOWN deeper into existing static reports to deliver enhanced details on accounts, transactions or records. NAVIGATE data worlds freely and on your own terms. Switch between rows and columns by dragging and dropping, setting filters, and drilling up and down. DRAW OUT additional data relating to areas covered by a static report. SHARE insights and findings with executives throughout the organization via the interactive dashboard. PRESENT your analysis as you see fit using a combination of tables, graphs and other graphics. CREATE forecasts or run what-if scenarios to test the potential impact of different actions. GET to the bottom of data variances with unique drill-down, drill-through and drillacross functions. 6

5 CXO Software and cubus outperform EV Analytics When connecting to their EPM source system, many organizations still rely on distributed data exports that allow for manual manipulations and require IT maintenance. Together, CXO Software and cubus AG have come up with an ideal solution for organizations that don t want to source data into another tool. Both CXO Software and cubus outperform EV Analytics connect live to the EPM source and retrieve data directly from the OLAP Cubes. Traditionally, Finance teams have expended significant time and effort sourcing data and simply getting the numbers right. As a result, too much of the reporting cycle has been dedicated to basic, low-level reporting tasks, leaving little time for high-level analysis and insight. CXO Software and cubus AG s unique connectivity solution simplifies and enhances the flow of information. This means less time being spent on basic, repetitive tasks, and more space for real, value-added analysis. We ve flipped the standard financial reporting model upside down! traditional CXO Software + cubus outperform EV Analytics analysis value-added analysis analysis reporting repetitive tasks reporting 8 The key differences between the CXO Software reporting platform and non-specialist BI is that these generic tools expect the source data structures to be designed for reporting. Financial consolidation systems are designed for input, calculation and processing. Not for reporting and analysis. The data structures (OLAP Cubes) and hierarchies in EPM systems will never be ideal for financial reporting with generic BI or Excel. CXO Software s platform is built specifically for financial reporting, and it performs its role in an intuitive and highly intelligent way. Direct connectivity allows users to present and visualize the data in a clear, logical format, in a way that makes total sense. CXO Software and cubus outperform EV Analytics work seamlessly with the following EPM source systems: Oracle Essbase IBM Cognos TM1 Microsoft Analysis Services SAP

6 Financial reporting & ad-hoc analysis Together, CXO Software and cubus AG offer unparalleled reporting and analytics capabilities by combining the power of modern out-of-the-box dashboards with the strength of ad-hoc analysis possibilities. Financial & Performance Reporting Through process standardization, a modern, dynamic reporting dashboard can enhance all aspects of the reporting cycle shifting the emphasis from basic, manual tasks to actionable, value-added insight and analysis. Ad-hoc Analysis Dive deeper into your data; create forecasts, resolve complex queries, and run what-if scenarios. With user-friendly drill-down, drill-through and drill-across functions, you can get to the bottom of every variance. Freedom of Analytics A fully automated reporting process allows Finance professionals to explore the data on their own terms. With ad-hoc analytics, the user has the freedom they need to drill down deep into the data. The result is a far sharper understanding of financial performance past, present and future. Financial Storytelling One of the most critical aspects of the reporting process is the ability to capture, manage and distribute comments and narratives. By telling the story behind the numbers, the Finance team is able to guide executives directly toward the key insights. Eliminate Excel CXO Software and cubus outperform EV Analytics eliminate the need for spreadsheet-based manual reporting using Excel or other generic BI tools. In their place comes a centrally governed reporting platform that s easily maintained by Finance. Say goodbye to awkward, error-prone spreadsheets for good! Agile Decision-Making Ultimately, the performance of any Finance function is measured in terms of the value it adds to the organization s key decision-makers. With ad-hoc analytics, your team can finally deliver the actionable insight that today s boardroom executives demand. Mobile Dashboards A key advantage of our financial reporting solution is that it s available anytime, anywhere. cubus outperform EV Analytics and CXO Software are fully compatible with mobile devices and tablets, so that the EPM source data can always be accessed whether at the office or on the go. 10

7 Ad-hoc Analysis Financial & Performance Reporting Freedom of Analytics Mobile Dashboards Financial Storytelling Agile Decision- Making Eliminate Excel 12

8 About CXO Software CXO Software is an independent provider of financial and performance reporting platforms. Established in 2007, our unique approach to financial reporting was born out of a growing frustration with time-consuming and error-prone Excel-driven processes; the low financial intelligence of generic BI tools; and, most importantly, the lack of time allowed during reporting cycles for value-added analysis and insight. Our financial and performance dashboards offer in-depth actionable insights to enhance the work of end-users as well as C-level executives. Contact CXO Software Headquarters Europe CXO Software B.V. Herculesplein 48 NL 3584 AA Utrecht The Netherlands Phone: (+31) info@cxo.com web: North America CXO Software USA Inc Houze Rd 250 Roswell, GA USA info@cxo.com web: About cubus AG cubus - making the right decisions. We want customers to be able to make fact-based decisions at all levels of the hierarchy. Drawing on 25 years of experience in enterprise planning, we support you with state-of-the-art technologies that combine preconfigured components with tailored elements. We also provide expert consultants and first-class support to ensure your application delivers on your expectations. This is why, around the world, more than 250 organizations including S&P 500 companies rely on cubus AG for their day-to-day financial and performance management needs. Contact cubus AG cubus AG Bahnhofstraße Herrenberg Germany telephone: (+49) telefax: (+49) info@cubus.eu web: cubus Schweiz GmbH Leutschenbachstrasse Zürich Switzerland telephone: +41 (44) telefax: +41 (44) mobile: +41 (79) oliver.braun@cubus.eu web: