Regardless of the industry or the vertical, every company has to look after its finances. This means that the (sometimes dreaded) month-end is a reality that affects many managers and teams. You’ve probably experienced the hustle and bustle feel of this time, the all-too consuming extrapolation of ERP data and manipulation of spreadsheets. But what if the whole process could be simplified and save your company time, and in turn, money?
The scenario mentioned above does not have to be hypothetical, it is an achievable improvement that many companies have put in place successfully. Month-end can be simplified and accelerated with the use of BI tools, such as QuickStart for SAP B1. The integration of BI tools makes financial statements easier to access, decision-making easier to achieve for operations, and allows for an overall better understanding of how your organization is performing financially.
The nature of an all-hands-on-deck and complicated task such as month-end makes it hard for finance departments to adopt new technology easily. However, the pay-off when it comes to time and money saved is entirely worth it. Creating, scheduling, and automating financial statements and reports, without having to rely on a third-party or IT department make a vast difference and eliminates hours of manual work for most involved.
QuickStart for SAP B1 has many functionalities but taking full advantage of it for your specific needs can be very powerful. The financial module is specifically helpful when it comes to performing better analysis, drilling down data, and leveraging its dashboarding capabilities. All of this and proper user adoption can create user empowerment and the automation needed to optimize and accelerate processes such as month-end.