Reporting and Analytics Process Flow
Budget owners and financial executives use Reporting and Analytics to monitor and analyze the company's performance. They can run variance analyses to compare Actuals to Forecasts by Department. They can also add commentary and attachments about any significant variances at the Department level.
Reporting and Analytics tasks include giving variance commentary, analyzing monthly trends, and completing monthly executive reviews.
Best practice is to analyze the company's performance regularly.
Providing Variance Commentary
The budget owner reviews the monthly variances and adds departmental commentary for any significant variances on all Variance Report forms.
The finance executive reviews the monthly variances and any commentary from the budget owners and provides any additional commentary. Also, the finance executive follows up on significant changes in the business.
Analyzing Monthly Trends
The finance executive checks current trends and monthly totals by using these dashboards:
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CFO KPI Income Statement Dashboard
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CFO KPI Balance Sheet: Cash Flow Dashboard
Performing Monthly Executive Reviews
First, the finance executive and other executives review the monthly company performance in the Financials cluster and the consolidated financial statements in Group Reporting Currency. Then, they look at the significant variances and any related commentary on all Variance Report forms.