Financial Analytics

Financial Analytics

Today’s analytics tools can give you unprecedented insights into your financial KPIs, your product performance, customer behavior, competitive threats, market conditions, and more. As a result, you gain the power to revolutionize your business for the digital age.

However, finance professionals are… well finance experts, not business intelligence experts. Building modern analytics solutions to support finance requires technical experience to:

Identify high ROI analytics use cases
Find, extract, and combine data from multiple heterogeneous sources like ERP systems, HCM-systems, DW solutions, etc.
Create intuitive visualization/dashboards showing the right insights

A great financial analytics solution never replaces the capabilities and experience of the finance professional. When made correctly, the financial analytics solution will greatly amplify their expertise.

Why should I care about data-driven analytics?

Executives are looking to CFOs for data-based insights that propel the business forward. They’re calling on the finance team to be the organization’s analytics powerhouse, driving the analytics agenda for the business. And they’re increasing the pressure on finance departments to transition from historical reporting to a forward-looking perspective.

Stretch Qonnect can help you here. Our experienced analytics experts can help you transform the way your finance department uses business intelligence.

10 ways to drive transformation with financial analytics

3 areas to improve with modern financial analytics

Efficient expense management

Firstly, use analytics to get a holistic view of all expenses and vendors. This helps discover the real cost of doing business, thus identifying areas to reduce costs and increase profitability.

Optimized budget allocation and forecasting

Start with a data-driven approach to forecasting and budgeting. Streamline the analysis to gain insights into cash flow, break-even, amortization, and more. Consequently, this helps make better future plans.

Insightful revenue and profitability management

Ensure your financial balance stays healthy by using analytics solutions to improve cash conversion cycles and increase balance sheet visibility. Additionally, a modern analytics solution reduces the time and resources spent analyzing cash flow and balance sheets, providing insights into the financial performance of all products and services.