Posted by Kate Geary on 19/12/18 13:47

When you thank your finance team for all their hard work this year, actions can speak louder than words. Late nights and long hours means less time at home can mean more stress. Long hours are not new for finance teams, but does it have to be that way and can their time be spent more productively, with the right tools.

End of year is always a good time to stand back, look at the bigger picture and ask yourself is it time for a new way of doing things to ease time pressure and give your finance team and you better tools for the job.  Budgeting, forecasting ad reporting is core to strategic planning, and having data, reporting and analytics at your fingertips could free up time, reduce stress, and make everyone feel more in control. 

 

5 reasons to gift yourself a new business planning tool today:

 

1. Sharing & Collaboration

The need to communicate across the business and share the vision is key, reporting is a big part of that. On average it takes 8 people to produce a report, typically using tools like Excel. Growing volumes of reports needed across an organisation can expands nearly as fast as the business.  Everyone wants to see information differently, and the pressure is on to produce this on time and accurately.  Cloud solutions like Adaptive Insights gives the business real time access to numbers, in different formats, which makes reporting easy and accessible. Add to that the ability to control users activity, and self-serv, by generating ad hoc reports when needed all in Excel Excel, what's not to like? The perfect pressie for not only you, but your finance team and the business.

 

2. User Friendly

One of the biggest barriers to moving away from familiar software like Excel, is familiarity, with 95% of firms using excel for financial planning & reporting ease of use for finance and the business is what's needed. Dashboards, an intuitive interface which mirrors Excel, drill down to source data, driver based automation, plain English formulas, drag and drop function,  all makes navigating a new solution like Adaptive Insights easy, and puts everyone back in control! 

 

3. Faster Process

Today's business is fast moving, a droll statement maybe, but 80% of our clients are growing fast, with private equity funding, acquisitions and expansion par for the course. This all adds complexity in the planning process. Your team need the ability to create many 'What if' scenario, fast. As well as test them with sensitivity analysis and easily share them. Time is often the constraint here, so taking away the drudge of data manipulation, using complex spreadsheet monsters , and reconciling and defending data, will lift the weight of number crunching and free your team up to do the value added stuff like analysis. 

 

4. Confidence in your data

Information is key when it comes to forecasting. So integration tools are needed for a complete vision, and go towards better decision making. With a single source of data at your fingertips, you can have confidence in the numbers and where they came from. Simple drill down capability, with real time access to any data source which drives your integrated P&L, Balance sheet and cash flow forecast, you can get a far clearer view of your future; a must have for 2019!   

There is nothing worse than experiencing the stomach-churning exposure to error or inaccuracies in the boardroom. What better present can you give yourself than confidence in your numbers? Whilst at the same time, reducing time and effort in producing them. 

 

5. Automation

It is easy to believe that Excel is the only way - and until very recently it was !  Now the advent of cloud and the power of automation can transform the planning and forecasting process.

Imagine a world where assumptions work to drive your forecasts!  Actuals data can be used to drive your plans, based on your business assumptions to identify future possible outcomes, all at the touch of a button.

Stories from our clients like Anthony Ridgewell from Home Appliance Guard and Martin Webster from SDL property group, back this up. Whether producing multiple scenarios for the board, or to secure private equity investment both now use the power of automation to meet the needs of their growing companies.  

 

'Quite simply I wish I'd got Adaptive sooner, it has given us our lives back'   - Martin Webster SDL

 

The right choice

Adaptive Insights is an award winning financial planning software continually being rated No.1 for customer satisfaction and usability and by Gartner. 4,000+ businesses have chosen to use Adaptive Insights, and at Formulate, we make the software accessible to all. We are the only dedicated partner in EMEA, we get clients up and running in weeks, and we use tried and tested templates alongside our own accountancy qualified consultants to  ensure finance teams and leaders get their life back. . 

 

If you would like to book a call with one of our accountancy qualified Adaptive certified consultants today click here.

 


Tags: Adaptive Insights, FP&A, financial planning software consultant


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