Financial statement analysis: what's changing?
Phocas
SEPTEMBER 6, 2023
Financial Statement analysis is becoming more timely and useful as income and profit and loss statements are created and updated on a data platform.
financial-statements 
Get strategic insights with consolidated financial statements
Phocas
FEBRUARY 19, 2024
In the dynamic landscape of modern business, where companies often operate as interconnected entities within a group structure, understanding the overall financial health becomes a strategic necessity.
Finance 
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How to automate financial statements in minutes
Phocas
JULY 14, 2020
A new finance solution allows the accounting department to quickly customize and automate financial statements like the income or profit and loss statement and balance sheet in minutes. For many, the process of preparing the data is a huge time waster and takes a lot away from analyzing the data.
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Phocas Financial Statements upgrades
Phocas
OCTOBER 28, 2020
The Financial Statements solution was upgraded this year so your team can review and analyze financial statements directly in Phocas.The solution makes month-end financial statements more accessible and allows more people to understand the impact of operational decisions on financial performance faster.
Challenges in producing financial statements
Insight Software
AUGUST 23, 2021
Used primarily in a strategic context by corporate Finance Divisions and Boards of Directors, financial statements are key documents that must be prepared and produced with care. On this point, we can see that spreadsheets, such as Excel, are still being used by many Finance Divisions to produce their financial statements.
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How Trade Supply Group customizes financial statements across 14 locations
Phocas
JULY 16, 2020
Trade Supply Group added Phocas financial statements software to its tech stack which customizes and automates month end reporting across 14 operating locations, allowing branch managers to monitor financial performance and make fast, accurate decisions.
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Financial Statement Reporting Software: A friend for your finance team
Phocas
OCTOBER 12, 2020
Finance teams have been opposing the arrival of Financial Statement Reporting Software for a simple reason — many assume that it will put you out of a job.
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The evolution of financial statement planning and analysis
Phocas
OCTOBER 6, 2020
Instead of waiting for year-end or month-end reports to analyze your financial health, the decision makers now require up-to-date insights to make on-the-go decisions and create new opportunities for business growth.
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Elevating Real Estate Financial Management: The Benefits of Automated Bank Statement Data Extraction
Astera
JULY 11, 2023
Simplifying Real Estate Financial Management: What to Look for in an Automated Bank Statement Data Extraction Solution In the dynamic world of real estate, professionals face the exciting challenge of handling a significant volume of bank statements as part of their financial operations.
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Gathering Data Can Be Vital for Your Personalized Financial Plan
Smart Data Collective
FEBRUARY 12, 2021
The financial analytics market is projected to be worth $11.3 Before getting into how gathering data can help your financial future, you should understand what it is. It is true that data analytics is key to helping reach your personal financial goals. Necessary Financial Documentation Before Using Data Analytics.
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How to Write a Project Scope Statement? | Simplilearn
Simplilearn
APRIL 13, 2023
It ensures the project lies within the financial budget and available resources. Requiring details on present availability and future requirements, it is important to draft the project scope statement with proper care. Project scope is significant to the team to frame precisely possible achievable goals and project deliverables.
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How to get smart Financial Statements and improve profitability
Phocas
APRIL 21, 2022
While there are numerous metrics to describe a business, the real measure of success is profitability. Think about what has the most meaning to your stakeholders, employees, customers, and suppliers. It’s profit.
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Cloud Advances Make Record Keeping Compliance Easier Than Ever
Smart Data Collective
MAY 7, 2023
Some of them are: Business formation documents Employment records Business asset records Tax returns and supporting documents Sales receipts Ledgers and registers Leases or mortgage documents Shareholder meeting minutes Bank and credit card statements Licenses and permits Insurance policies and records Loan documents.
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Simplifying Financial Reporting with Automation
Argon Digital
JULY 25, 2023
Automation is Revolutionizing Financial Reporting Financial reporting is a critical aspect of any business, providing valuable insights into its financial health and performance. However, the traditional manual financial reporting processes can be time-consuming, error-prone, and resource-intensive.
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Smart Financial Statements: What business leaders need to know
Phocas
APRIL 21, 2022
There is perhaps nothing more dangerous than for an organization to base decisions on inaccurate or incomplete information.
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Developments in AI and IMF Positions Can Make Bitcoin Legally Tender
Smart Data Collective
JULY 7, 2022
Artificial intelligence has been a disruptive force in the financial sector for the past decade. We have discussed some of the benefits of AI technology in mainstream financial sectors like banking. However, there are less conventional corners of the financial sector that are also changing in light of developments in AI.
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How to prepare financial reports that work for your business
Phocas
APRIL 23, 2024
Accurate and actionable financial statements are critical for any business. However, many organizations struggle with incomplete or outdated data, delays in data entry and processing and siloed access.
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Ways to improve profit and loss management with the right software
Phocas
APRIL 23, 2024
Finance professionals use profit and loss management to monitor their company’s financial health so they can make informed business decisions. Using profit and loss statements, they can easily identify areas where their company can increase revenues, reduce costs, and monitor net income.
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4 Elements of Success for Companies that Develop Big Data Applications
Smart Data Collective
MAY 26, 2022
Mission Statement. A mission statement is something that every business needs because it gives your company a purpose and direction. If you are selling a data analytics platform for financial traders, you need to have a mission statement that will help your company figure out what it is trying to accomplish.
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AI-Based Banking Loan Software Will Become Norm In 2022
Smart Data Collective
NOVEMBER 3, 2021
There is no denying the reality that artificial intelligence is setting new standards in the financial sector. However, there are other segments of the financial industry that also rely on AI technology. In fact, AI is the basis for the sudden boom in Fintech. The banking industry is among them. Integrated lending module.
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Tailored financial dashboards for actionable insights
Phocas
DECEMBER 17, 2023
A business planning and analytics platform allows finance teams to integrate multiple sets of data sources together to create financial statements, budgets and forecasts.
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Will AI Developments Help Open Banking Take Off?
Smart Data Collective
JULY 20, 2021
Open banking is the technical process that allows financial providers to dip in and see the banking history and activity of a customer before they apply. Financial data from various sources is merged in order to be analyzed in comparison with other datasets to create predictive algorithms. AI Drives the Future of Open Banking.
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Improve Financial Accuracy with Tally ERP Analytics!
ElegantJ BI
JUNE 24, 2022
The McKinsey consulting firm reports that organizations with fast and efficient decision-making processes are twice as likely to report financial returns of at least 20% as a result of recent decisions. These are just a few examples of how businesses can gain insight and provide actionable reporting to improve results.
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Improve Financial Accuracy with Tally ERP Analytics!
ElegantJ BI
JUNE 24, 2022
The McKinsey consulting firm reports that organizations with fast and efficient decision-making processes are twice as likely to report financial returns of at least 20% as a result of recent decisions. These are just a few examples of how businesses can gain insight and provide actionable reporting to improve results.
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Improve Financial Accuracy with Tally ERP Analytics!
ElegantJ BI
JUNE 24, 2022
The McKinsey consulting firm reports that organizations with fast and efficient decision-making processes are twice as likely to report financial returns of at least 20% as a result of recent decisions. Review income statements and compare results to expected performance to inform annual reporting and stay on track.
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How can CIOs Build Business Value with Business Analytics?
Smart Data Collective
JUNE 16, 2022
Not to miss, a low-level (detailed) view of such a dashboard would include a problem statement, business case, status, budget, delegation, etc. . This analytical ability to predict customer churn can assist insetting appropriate goals but also strengthening their financial planning area as discussed previously. .
Data Analytics is Crucial for Businesses Preparing for Financial Disasters
Smart Data Collective
NOVEMBER 8, 2021
One of the most important ways to utilize big data is with financial management. The financial analytics market is projected to be worth $114 billion within the next two years. Data-driven financial management is likely more important than ever. Countless businesses were struggling horribly during the pandemic.
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Promising Benefits of AI in the Financial Technology Market
Smart Data Collective
MAY 10, 2022
One of the critical industries AI is making strides in is the financial technology “fintech” industry. AI now plays a significant role in facilitating financial services, replacing what required manual work a few years ago. They also use it to detect fraud in massive financial networks with success. Fraud Detection.
How a Danish Bitcoin Trader Discovered the Wonders of Analytics
Smart Data Collective
AUGUST 7, 2022
We have talked at length about the benefits of analytics in the financial sector. billion on financial analytics technology this year. “Traders are no longer ad hoc investors with no financial background. These measures are designed to prevent financial crime and protect users from fraud and identity theft.
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Security In Automated Document Processing: Ensuring Data Integrity And Confidentiality
Smart Data Collective
SEPTEMBER 4, 2023
Think about the plethora of sensitive data processed daily: contracts, personal identification details, financial statements, and more. A security breach could compromise these data, leading to severe financial and reputational damage.
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5 Reasons Data-Savvy Accountants Are Becoming Vital to Businesses
Smart Data Collective
MARCH 15, 2022
There is no doubt that big data has been a major gamechanger for the financial sector. Companies around the world are expected to spend over $25 billion on financial analytics by 2028. Large financial institutions aren’t the only ones being impacted by big data.
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Accounting and Finance Pros Can Use Tally ERP Analytics!
ElegantJ BI
APRIL 18, 2022
The Rochester Institute of Technology (RIT) states that, ‘Accounting analytics can help an organization answer financial questions by looking at all the data gathered by a company (e.g., transactional data, financial data, investment analysis, etc.) Leverage Integrated Analytics Reporting in Tally ERP!
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Accounting and Finance Pros Can Use Tally ERP Analytics!
ElegantJ BI
APRIL 18, 2022
The Rochester Institute of Technology (RIT) states that, ‘Accounting analytics can help an organization answer financial questions by looking at all the data gathered by a company (e.g., transactional data, financial data, investment analysis, etc.) ACCOUNTS STATEMENTS. Leverage Integrated Analytics Reporting in Tally ERP!
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Will Predictive Analytics Help Forecast Profitable IPOs for Stock Traders?
Smart Data Collective
JANUARY 14, 2021
Machine learning has drastically changed the direction of the financial industry. In 2019, Forbes published an article showing that machine learning can increase productivity of the financial services industry by $140 billion. The nature of financial markets is a lot more chaotic than your MBA class might suggest.
Reporting Analytics vs. Financial Reporting: Is There a Difference?
Insight Software
OCTOBER 26, 2021
In fact there are some very important differences between the two, and understanding those distinctions can go a long way toward helping your organization make best use of both financial reporting and analytics. Financial Reporting. At the most fundamental level, it begins with core financial statements.
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What's new in manufacturing software?
Phocas
AUGUST 9, 2020
ERP, data analytics and the new Epicor Financial Statements manufacturing software helps facilitate these gains. In manufacturing, most companies can’t make products any faster or cheaper, so they need to achieve efficiencies through data and the back office.
Cloud Technology is the Future of Medical Billing Software
Smart Data Collective
DECEMBER 19, 2022
Financial Responsibility. A patient is informed of the financial responsibility for procedures or services that aren’t covered. Patient Statement Preparation. Statement Follow-Up. During the medical billing process, the patient file will be referred to using this information.
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What are your company's most important financial ratios?
Phocas
DECEMBER 14, 2022
Financial ratio analysis is an effective way to use data from your company’s financial statements, such as balance sheet, income statement, and cash flow statement, to gain vital information about your company’s performance and financial health.
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What are your company's most important financial ratios?
Phocas
DECEMBER 14, 2022
Financial ratio analysis is an effective way to use data from your company’s financial statements, such as balance sheet, income statement, and cash flow statement, to gain vital information about your company’s performance and financial health.
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Driving Government Efficiency: How Automated Bank Statement Data Extraction Saves 70% of CostÂ
Astera
JULY 11, 2023
One such innovation that has caught the attention of government bodies worldwide is automated bank statement data extraction. By harnessing the power of automated bank statement data extraction, governments are revolutionizing their operations and achieving substantial cost savings.
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Top 3 Benefits of MRI Automation for Real Estate Professionals
Insight Software
FEBRUARY 28, 2022
Financial professionals in real estate contend with a wide array of responsibilities—managing financial statements, office space floors, signage, storage space, land, and more. The same report found that every week, finance professionals spend over 25% of their time producing financial statements.
Cash flow statement template — manage your cash flows
Monday
MARCH 16, 2022
That’s what a cash flow statement is for — it tells you where cash is coming from and going to. However, the cash flow statement can be time-consuming and tricky to create. With a cash flow statement template, you can quickly create accurate cash flow statements as needed. What is a cash flow statement template?
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Accounting analytics – how business intelligence helps
Phocas
NOVEMBER 22, 2020
A decade ago, an accountant balanced the daily transactions and prepared a statement of profit and loss for the year-end. In recent times, the ERP and spreadsheets became the accountant’s best friend to create static reports and communicate historical financial performance.
AI Technology Helps Facilitate Bitcoin Trading in Djibouti
Smart Data Collective
AUGUST 9, 2022
Companies like TradeConnect use artificial intelligence to identify brokers and financial institutions that traders can connect with. This is especially important for traders in remote countries like Djibouti were traditional financial institutions are lacking. AI helps traders find the right partners to connect with.
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