9 Ways That Spreadsheet Server Helps You Master Financial Reporting in Excel

In the era of data abundance, many finance users are faced with an insatiable need for more in-depth reporting and analysis. As CFOs increasingly rely on their teams to extract nuanced insights from complex (and fragmented) datasets, finance users are finding that they need a way to report on and analyze their organization’s data that goes beyond what standard ERP reports offer. Most finance professionals are no doubt feeling the pressure to deliver, and likely turning to the accountant’s favorite tool — Excel.

Excel has been the tried-and-true companion for accountants and finance teams for decades. Its familiarity, flexibility, and spreadsheet functionalities have made it the default tool for creating custom reports, conducting complex analyses, and visualizing data in ways that standard ERP reports might not facilitate.

How Spreadsheet Server Helps Teams Master Financial Reporting

Mastering financial reporting in Excel isn’t about building more complex spreadsheets. The underlying objective is to make Excel more connected, repeatable, accurate, and explainable so you can do more with its reports. Spreadsheet Server gives financial teams a massive leg up in this regard, connecting Excel directly to your ERP and operational data for refreshable reports, drill-down capabilities, consolidated data sources, and automated recurring tasks.

1. Connect Excel Directly to Live ERP Data

Financial reporting can easily break down when analysts have to manually export ERP data, copy it into Excel, reformat it, and hope nothing changes before the report is finalized. Spreadsheet Server connects Excel directly to live ERP and business data so finance teams can use the familiar interface without worrying about stale numbers.

2. Build Financial Statements Using the Excel Skills Finance Already Has

Financial professionals already know how they want their financial statements to look in Excel. Unfortunately, ERP reports are usually too rigid to achieve this, while manual spreadsheets are too fragile and time-consuming. Spreadsheet Server leverages familiar Excel formatting, formulas, tabs, and layouts, and combines those with governed, real-time ERP data behind the scenes.

3. Refresh Reports Instead of Rebuilding Them

One of the biggest signs of Excel reporting maturity is repeatability and templatization. Instead of building new reports every month, finance teams should create a report once and be able to update the period, entity, account range, or department and refresh the numbers. Spreadsheet Server does exactly this, turning your Excel workbooks into reusable reporting assets instead of one-off files for a single snapshot in time.

4. Combine GL and Non-GL Data in One Excel Report

Getting into more advanced financial reporting often requires more than simple GL balances. Explaining revenue by customer, expenses by vendor, headcount by department, inventory by location, or project performance by operational driver becomes critical. Spreadsheet Server makes it easy to combine GL and non-GL data in the same report for more unified insights.

5. Drill From Summary Numbers to Transaction Detail

Financial reporting doesn’t end when the statement is complete — teams need to be able to explain why numbers changed. Spreadsheet Server helps users move from high-level summary data to supporting details, including subledger or transaction-level information (without leaving Excel).

6. Create Ad Hoc Reports Without Waiting on IT

Financial analysts frequently need to answer questions that go beyond the standard reporting package. While most ERP reports are too limited, building custom reports to answer these questions can take too long when you’re relying on IT. Spreadsheet Server puts self-service reporting at your fingertips so non-technical users can create and modify reports in Excel without depending on IT or super users for every adjustment.

7. Use ERP-Aware Excel Formulas Instead of Database Knowledge

Business users shouldn’t have to understand SQL, joins, or ERP schema to build financial reports. Spreadsheet Server facilitates this with minimal technical knowledge required, bringing ERP-aware reporting logic directly into Excel. This means that users can work with the familiar spreadsheet interface while the tool understands and connects the financial data structures behind the scenes.

8. Automate Report Distribution

Once a report is created, you still need to send the right version to the right stakeholders (typically on a recurring schedule). Spreadsheet Server makes this process a breeze by automating report distribution and reducing the manual work of refreshing files, saving copies, emailing attachments, and managing version control.

9. Shorten Month-End Reporting Cycles

Month-end reporting slows to a crawl when organizations spend too much time gathering data, checking formulas, reconciling exports, building reports, and answering follow-up questions. Spreadsheet Server shortens this cycle by minimizing manual data movement, enabling faster refreshes, supporting drill-down analysis, and allowing finance teams to answer questions directly in Excel.

Spreadsheet Server’s Impact on Financial Reporting from Excel

Clearly, manual data exports from your ERP to Excel require a lot of time and introduce unnecessary risk. insightsoftware overcomes this challenge by extending your ERP reporting capabilities directly in Excel, without involving IT or using manual data dumps. Spreadsheet Server connects Excel to more than 140 ERPs, so you can easily build any report you need with your existing Excel skills.

Self-Service Reporting Designed for Finance

Many finance processes rely on extensive help from IT or expensive external consultants. With Spreadsheet Server, insightsoftware’s Excel-based reporting solution, your finance team is empowered to create their own reports, without IT or consultant involvement, and to take advantage of the full power of your ERP data. With a fast, flexible, and intuitive solution purpose-built to meet your team’s needs, Spreadsheet Server is a truly self-service reporting tool that empowers users to think outside the box of standard reports and create the reports your organization needs

• Eliminate IT delays by empowering your finance team with a drag-and-drop report creator and pre-built Excel formulas to create their own flexible, custom reports in minutes.

• Simplify complex reporting tasks. Create accurate, up-to-date reports for previous periods without relying on warehoused data or stale data dumps. Easily produce period-on-period analysis reports (e.g., a month-by-month balance sheet) and refresh them in seconds.

• See the bigger picture with the ability to combine data from multiple sources into a single report and view all the data your business needs in one place.

Significantly Accelerate Processes with Up-to-Date Data in Excel

With Spreadsheet Server, there’s no need to worry about inaccurate or stale data in Excel; data from your ERP automatically updates in Excel so you are never working with old numbers. Simply refresh or update to a new period to pull in new ERP data.

Take your reporting to the next level with instant Excel access to your latest data and complete your month-end close days sooner. Shrink reporting cycles by cutting the need for time-consuming manual data exports to Excel pivot tables. Create charts, graphs, maps, and other visuals that combine data from multiple applications in just a few clicks.

Enjoy fast response times by refreshing reports and getting answers to ad hoc inquiries in seconds. Be confident that your decisions are based on consistent, reliable, and accurate information.

Speed-up Analysis with Deep, Transactional Drill Downs

With Spreadsheet Server, your finance team has the flexibility to drill down to see the data behind the numbers and get instant answers to critical business questions. Give your team control with reporting and analytics software that is built specifically for finance so your team can spend less time on reporting and more time on value-added analysis.

• Powerful drilldowns without programming. Drill from summary to balances, transactions, and sub-ledgers to investigate variances and fix account reconciliation issues, fast.

• Handle information requests from any ERP module and drill across modules to support advanced analysis. Enjoy total visibility and access to all your data for operational reporting and analysis.

See Value Within a Single Reporting Cycle

Spreadsheet Server automates time-consuming reporting processes, allowing your finance team to devote their time to higher-value tasks like analysis. Being based in Excel — finance’s tool of choice — ensures fast time to value and high levels of user adoption.

Deliver value out of the box with an easy, lightweight installation that takes less than a day, with no server required, and no need for a lengthy BI project or heavy IT involvement. Spreadsheet Server empowers your finance team to build the reports they need in minutes with the Excel skills they already have.

Upgrade Your Financial Reporting with Spreadsheet Server

Are you ready for an easier, faster reporting process? With Spreadsheet Server’s 140+ ERP integrations, you can have exactly that — shorter reporting cycles, more reliable data, and the ease of use that comes from working directly in Excel. For more information on how Spreadsheet Server will improve your financial and operational reporting processes, sign up for a demo today!