The Reporting Capabilities for Finance Teams Using Power BI
Here are some of reporting capabilities that Power BI can help Finance with;
- Dynamic Financial Statements with advanced ratio analysis – the ability for Finance to access its reporting via Power BI helps them to speed up the month end accounts process and delivery of key numbers to stakeholders
- Cash Flow Forecasting and Analysis – through the ongoing analysis of cash flow, management can monitor cash inflows and cash outflows against projected cash surpluses to make sure they have an adequate level of cash reserves
- Advanced Sales data analytics for decision making – Finance can drill into sales transaction data to assist business with analysis sales growth products, customer and locations to provide useful decision making info for future planning and sales strategy
- Analytics and Visualisation of AR, AP and Inventory Balances – being able to better manage your working capital needs through insights helps the organisation to see what is owing, what it owes and how much is invested in inventory
- Analytics and Visualisation of General Ledger Accounts – through the analysis of the GL, Finance can investigate unusual amounts and compare GL spend to comparative periods for completeness and trends
- Tracking Actual versus Budget Variances – the ability for Finance to track variances against revenue and expenses assist business making better informed decisions regarding spending and pipeline management
- Advanced analytics on product and customer profit margins – this analysis helps the business to track profitability across customers and products at a detailed level to spot opportunities and problem areas in protecting its margins
- Finance calculators as self-service tools using DAX – Power BI DAX functions help Finance to perform calculations such as Time, Value of Money
- Forecasting and What-If analysis – by creating parameters / benchmarks Finance can predict the outcome of decisions
