Tools for Financial Business Intelligence

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2 Tools for Financial Business Intelligence You probably already have an accounting package that includes accounts payable and receivable, general ledger and financial reporting of some sort. The question is whether you re getting the information you need out of it in a timely manner quickly enough to take action. Or are you seeing printed income statements and balance sheets 30 days after the fact? If so, it s hard to get out in front of problems. The question is whether you re getting the information you need out of it in a timely manner quickly enough to take action. There are an ever-growing number of choices for accounting and financial software. Figuring out which software packages and add-on tools are right for your business can be confusing. 2

3 Not all accounting and financial management software is created equal, and you need to do your homework when choosing one for your business. The right technology will help improve the quality of your business decisions in addition to improving the efficiency of your processes. A simple spreadsheet might be all your company needs right now, but if your organization is growing or your finances are becoming more complex, you should look into a more sophisticated software that will grow with your business. 3

4 Here are some questions to consider when you re putting together your financial systems: Do you want an on-premise or cloud-based software solution? If you choose a traditional, licensed software model, you will either rent or purchase licenses for product users, and your company will host the application or pay a third party to host it for you. All of your financial information will be kept on a dedicated server. A SaaS or cloud-based system offers the benefits of lower maintenance fees, faster, more efficient upgrades and shorter implementation times. Application tools and data are accessed over the Web. The increased use of tablets and smartphones is increasing the use of cloud-based software, which has the potential to increase productivity and overall business performance. Can the product adapt to your evolving financial reporting needs? Software should be purchased based on your company s needs alone, which may require you to perform a needs analysis to provide a more complete picture of how the software you re considering will perform for your company. Make sure the solution you choose will allow you to gather data throughout your organization and compile it in one place. The software should be intuitive, easy to learn and the reports configurable to your company needs. Every report generated must be compliant, allowing you to survive an audit with the information generated. Can you use the software on a trial basis? All vendors can provide you with a detailed list of software features and functions, but you need to wade in and get a feel for what the solution will provide for your company. Some trials offer limited functionality, while others limit the number of times you can use it. Look for a vendor that provides unlimited use for a set period of time. Use the software just as if you ve already purchased it to see first-hand if it meets the needs of your company. Does it offer the features you need? Is it customizable? Is it easy and intuitive to use? 4

5 Begin Your Financial Intelligence with Insperity Reveal If you re using QuickBooks software, Insperity Reveal can help you manage your financial operations and drive productivity and profits. You can access an accurate and real-time view of your company s financial health and gain insight into the financial information trapped inside your QuickBooks file. Make sound business decisions based upon the total picture of your cash at hand, receivables, payables, working capital, expenses and many other financial data points. Whether you need help handling your business finances or gaining a clearer financial picture, you can get the help you need with Insperity Reveal. You benefit from: An online dashboard with easy-to-use interface 12 financial snapshots with drillable details Seamless synchronization with current QuickBooks files A secure, centralized and organized location Real-time information for accurate forecasting Updated information to help you make knowledgeable business decisions You can access an accurate and real-time view of your company s financial health and gain insight into the financial information trapped inside your QuickBooks file. 5

6 All your financials in one easy-to-read place Insperity Reveal Dashboard overview Twelve critical data categories such as gross revenue, gross profit and net income from the past 12 months Charts Easy-to-understand charts detailing your financial, labor and sales data Reports Key reports down to the transaction level without opening your QuickBooks file Cash flow forecasting tool Drag-and-drop function to move payables out, accelerate collection of invoices and improve your cash position * QuickBooks is a trademark and service mark of Intuit Inc., registered in the United States and other countries. To learn more about Insperity Reveal and what it can do for your company, visit Insperity.com/Reveal today. 6

7 About Insperity Insperity, a trusted advisor to America s best businesses for more than 27 years, provides an array of human resources and business solutions designed to help improve business performance. Insperity Business Performance Advisors offer the most comprehensive suite of products and services available in the marketplace. Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce Optimization solution. Additional company offerings include Human Capital Management, Payroll Services, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Financial Services, Expense Management, Retirement Services and Insurance Services. Insperity business performance solutions support more than 100,000 businesses with more than 2 million employees. With 2012 revenues of $2.2 billion, Insperity operates in 57 offices throughout the United States. For more information, visit insperity.com. To find out more or learn how Insperity can help your company, call us at Visit us at insperity.com The information contained in this document is for general, informational purposes only and is not intended to be legal advice. This information is not a substitute for the guidance of a professional and should not be relied upon in reference to any specific situation without first seeking the advice of a qualified HR professional and/or legal counsel regarding applicable federal, state or local laws. Insperity and its respective employees make no warranties, expressed or implied, and make no judgments regarding the accuracy of this content and/or its applicability to a specific situation. A reference or link to another website is not an endorsement of that site or service. 7 FS -P13-621