#1 There’s never enough time in the day
If you’re relying on spreadsheets to decipher, analyze, and report large amounts of financial data, you’re also spending a lot of time cutting and pasting, creating formulas and layouts.
This is doubling your finance team’s workload, which leaves less time for the work you hired them to do: provide timely insight and analysis using accurate information.
EPM software slashes the hours it takes to access and organize your financial data – not only saving you time and money, but preserving your team’s sanity!Stop wasting time with spreadsheets. Automate finance’s manual tasks to ensure your staff has the time to use their true skills and make real
contributions to your company’s success.
#2 You need to reduce errors
So much manual entry is required when using spreadsheets that mistakes are bound to happen. Similarly, it’s difficult to track reviews and submissions that require approval from multiple people. There’s always the risk of compliance snafus if you can’t prove that employees followed the correct procedures.
EPM software supports more efficient financial processes, providing you with transparency. Additionally, with fewer errors, the data that makes up the basis of your financial analysis offers significant business value for the organization.
#3 You’re having a tough time actioning your data
Linking the achievement of corporate goals to operational activities may seem like a fantasy, but many organizations around the world are doing this today.
Using homegrown applications and spreadsheets will not provide you with the level of planning sophistication you need. In order to apply a common set of metrics across your entire organization, you need to do more than provide basic financial analytics using specialized formatting.
Put purpose and value back into your planning process. Link performance with outcomes – month to month, or weekly if you need. Gauge performance and make better business decisions to improve your company’s financial position.
#4 Accessing your financial data presents a challenge
It takes time to compile your financial information. Yet senior management expects that information in minutes. Is it possible to be more prepared?
Integrating EPM software with your ERP system allows you to easily access and organize your financial data. Look into and across your entire organization’s performance. Make smart day-to-day decisions and drive long-term strategies. Better access equals greater possibilities.
#5 You need to become more responsive to change
If you struggle with manual data entry now, just imagine the paperwork you’ll have as your business grows. And growth is a given: according to the IMF, the US economy is expected to grow 3.1% in 2015.
Now what if we told you that you could see your company’s future performance?
Enterprise performance management (EPM) software offers you the ability to analyze your historical data, along with present-day trends and patterns, to predict future outcomes.
Don’t just respond to change–anticipate it, and make sound decisions based on what you see coming.
#6 You need to retain your talent
Your people are a powerful resource, and recognizing top talent is key to keeping them. If your top performers spend most of their time with their heads down in financial data, chances are many of your most talented team members will voluntarily leave the business within 5 years.
“But everyone has to use spreadsheets in their job,” you say.
This is true. But 40% of the nation’s finance professionals are now 50 years or older and will likely retire in the next five years. If you combine this outlook with the knowledge that a new generation of finance employees are entering the workforce and lack real work experience, you’re missing a valuable opportunity to foster coaching and mentoring relationships between the two groups.
#7 You’re sick of slugging it out with your ERP
There’s a big difference between an accounting generalist and a true financial analyst.
Like the accounting generalist, an ERP system is transactional, not transformative. A generalist typically works under basic accounting principles. A financial analyst provides the company with more strategic and nuanced information.
Move away from the restrictions of your transactional systems. EPM software seamlessly integrates with nearly every ERP in use today. It extends the life and value of your ERP investment by enabling you to do so much more with the valuable information it holds.
About Us: BrightStar Enterprise Consulting provides sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future and optimize organizational decision making. Solutions for budgeting & forecasting, reporting & analytics, strategy management, consolidations, capital planning, profitability & cost management are delivered on a single unified platform. BrightStar embraces and extends Microsoft Excel® functionality, allowing finance professionals to manage data in a familiar environment – while providing unmatched modeling flexibility and enterprise performance.
Contact: For more information on how BrightStar Enterprise Consulting can solve all your above challenges and your business can benefit from the power of Enterprise Performance Management System, please mail us at firstname.lastname@example.org or give us a call at +91-9823.00.5326 (INDIA) to speak to BrightStar representative or visit our business page at http://www.bslion.in to find more details about our services.