NewIntelligence has created a Financial Reporting module to add on to its proprietary SAP B1 QuickStart solution. Consult our press release for more details.
NewIntelligence developed their SAP B1 Quickstart in 2017 to help SAP Business One customers better understand, anticipate and shape business outcomes. NI’s SAP QuickStart is an out-of-the-box fixed cost solution offered at an affordable price that takes just 2-3 weeks to deliver.
NI’s SAP B1 QuickStart solution currently covers 9 modules. NewIntelligence is continually adding new functionality to its SAP B1 QuickStart and passing the benefits on to their clients using this solution.
NI’s SAP B1 QuickStart Financial Reporting module was developed from customer feedback related to financial reporting challenges that SAP B1 customers were facing. Most of the SAP B1 customers that we were talking to considered financial reporting to be the most deficient area in SAP B1 terms of proper reporting capability.
When running an income statement or a balance sheet in SAP B1, the layouts available follow a certain order, but the user is limited in terms of being able to drill into the details, i.e. to easily go into journal entries that make up those figures. When running these types of reports in SAP B1, you have the ability to see actual versus budget on a balance sheet or income statement. However, the result is somewhat static. Our new Financial Reporting module provides the flexibility of drill down capability when doing this comparison with a simple drag & drop.
This Financial Reporting module allows users to be able to work with preconfigured income statements and balance sheets leveraging the General Ledger (GL) hierarchy that is already set up in SAP B1, and the ability to run adhoc reporting against GL journal entries down to the individual transaction.
The new Financial Reporting module not only provides reporting capability in a portal-based solution but also the ability work in Excel connected directly to your financial statements. This dual reporting capability provides the user with the ability to do the following against their income statements or their balance sheets:
• Look at multiple financial periods at the same time, and/or actual and budget at same time, all with a multitude of measures made available;
• Look at not only period balance but debit and credit information as well as opening and closing balances;
• Customize your periods when you are looking at an income statement, i.e. look at current and previous periods, as well as summarized totals for a specific quarter or for entire year by doing a simple drag and drop;
• Look at actual versus budget by nesting into your columns to do side by side analysis – either for a specific period you are filtered on or multiple periods;
• Drill down on hierarchy for your chart of accounts, drill down on levels set up in SAP B1, or drill down to specific GL account;
• Do reporting down to the journal entry, to the transaction, and be able to see memo and reference fields;
• Create pre-canned reports that will provide you with prompting for specific periods and automatic roll-up based on selection;
• Look at data by cost center or by project code inside of financial reporting.
This Financial Reporting module provides not only transactional reporting but also introduces the concept of cubes into the QuickStart solution, therefore allowing multi-dimensional reporting for analysis. Working with elements of your income statement and balance sheet, cubes help you perform cash flow analysis. Cubes are prebuilt structure that have dimensions, levels measures and hierarchies inside of levels. You can customize what dimensions get included in your cube.
When working in Excel using this module, you have the ability of to pull specific values from your income statement or balance sheet cubes and can leverage these values in other Excel spreadsheets you are working with. You can therefore link directly to a cube with a direct connection and use its values in a spreadsheet.
This new module, powered by IBM Planning Analytics, now includes your chart of accounts hierarchy, GL periods, measures, versions (actual & budget); all which you can include at the level of granularity you are budgeting at. You can add on cubes to allow for additional dimensions, for example, cost center or project code. This can provide flexibility to report and analyze data in both an adhoc manner as well as work with a pre-built structure. Additionally, you can use elements of your cubes when building your dashboards, i.e. create KPIs inside of your dashboard that links you to your cube.
With our QuickStart solution and new Financial Reporting add-on, our clients can now have access to full-blown GL reporting coming from their income statements and balance sheets.
Interested in boosting your business performance with a robust and cost-effective BI solution? Contact us today for a free, no-obligation consultation.
Register for our upcoming webinar Get a handle on your GL Financial Reporting being held on July 10th, 2019 at 12:00 noon E.S.T. to find out more about our new SAP B1 QuickStart Financial Reporting module. Click on the button below to register for the webinar.