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Capabilities

Automate and Accelerate Your Reporting and Gain Confidence in Your Data, with Financial Reporting Software

If you are a finance professional in today’s challenging business environment, you know that the Office of the CFO holds the crucial responsibility of not only understanding where the organization stands today but for plotting a course toward a successful future.

Unfortunately, the conventional reporting tools supplied with most ERPs and financial systems fall short of meeting the ever-evolving demands of your business. This forces finance teams to resort to tedious manual processes to extract, format, and present ERP data. These manual processes invite errors and consume valuable time, preventing finance teams from performing deeper analysis and offering strategic guidance, which the broader organization now expects from them.

It’s time to break free from these shackles and empower finance with modern, automated reporting solutions that enable accurate, efficient reporting, freeing time to deliver the insightful analysis and strategic direction that drives organizational success.

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Products

What is the Best Financial Reporting Software for Your ERP?

With a range of financial reporting software designed to work seamlessly with your ERP system, whether you use SAP, Oracle, Microsoft Dynamics, NetSuite, or any other ERP, discover the solution that meets your needs and expectations.

Steve McDaniel Controller
23 05 Cs Choateconstruction Web Logo

Query Designer allows us to spend more time doing what we need to do as contractors.

Christian Ortmann CEO
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I’m a big fan of Jet Reports. I tell everybody Jet Reports is the best tool we’ve ever had for the company. If you don’t already have Jet Reports, you need it.

Wouter van Beek IT Director
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Our teams are quick to understand the look and feel of the solution because it’s more or less the same as they were used to... It made it an easy decision to start using insightsoftware. Starting up was so easy.

Roles & Industries

Who Needs Financial Reporting Software?

Financial reporting software is essential for finance professionals across different roles and industries who want to quickly and efficiently manage their financial data and processes.

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CFO

Financial reporting software helps CFOs lead and manage their organizations’ finance teams with excellence and efficiency. It automates tasks, improves reporting, enables data visualization and analysis, ensures compliance, informs decision-making, unlocks collaboration with stakeholders, and maintains data security. It also allows CFOs to provide strategic direction and leadership with the finance function and across their broader organization.

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Financial Controller

Financial reporting software helps financial controllers coordinate and supervise their organizations’ accounting and finance functions, boosting their teams’ efficiency and accuracy, saving manual effort, ensuring compliance, and providing insights for financial management. It enables controllers and their teams to produce and deliver accurate and timely financial statements and reports; establish and maintain internal controls, policies, and procedures; and streamline and automate reconciliations, audits, tax compliance, and other accounting tasks.

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Financial Analyst

Financial reporting software helps financial analysts access, analyze, and visualize data in real-time. It automates and streamlines reporting processes, supports forecasting and budgeting, facilitates collaboration, and ensures compliance and data security. With financial reporting software, financial analysts can interpret data, provide strategic analysis, and deliver valuable insights that drive informed decision-making.

FAQs

Most ERP (Enterprise Resource Planning) systems have pre-built financial reports and a native report-writing tool. However, every organization needs to customize the pre-built reports to fit the unique way that their organization is structured and operates. Native report-writing applications tend to be rigid and require too much technical knowledge to be useful for most finance teams.

The answer is to look for financial reporting software. This purpose-built software understands your ERP’s data structures, the ins and outs of financial data, and can access live data without requiring technical know-how or IT support. Software like this puts finance teams in control of their reporting, enabling them to create refreshable, custom reports, saving time and ensuring consistent, accurate results while providing insights into the financial health and performance of the organization.

Embedded Analytics Tools can integrate with a large variety of data sources.  As a rule of thumb, if the source data is open, a robust embedded analytic tool can connect to it. These data sources can include:

  • Relational databases example: MySQL, Oracle, SQL Server, PostgreSQL
  • Data warehouses example: Amazon Redshift, Google BigQuery, or Snowflake
  • CRM or Business Applications (API) example: Salesforce, Microsoft Dynamics, SAP</li
  • Cloud-based data sources example: Amazon RDS, Google Cloud SQL
  • Flat files example: Excel, CSV, DBF

When considering financial reporting software, key features to look for include the following:

Data integration: The software should seamlessly integrate with your ERP system to pull financial data from various modules and departments.

Pre-built templates and business views: The software should offer ERPsmarts for your ERP to help get your financial reporting up and running faster and easier.

Customizable reporting: It should offer flexible report templates and the ability to create custom reports tailored to your business needs.

Drill-down functionality: The software should allow users to drill down into the underlying financial data for more detailed analysis.

Dashboards and visualizations: Visual representations, such as graphs and charts, can provide a clear overview of financial metrics and trends.

Security and access controls: Robust security features should be in place to protect sensitive financial data and limit access based on user roles.

Financial reporting software is designed to handle multi-currency and multi-company operations. It should be capable of consolidating financial data from multiple entities or subsidiaries, accommodating different currencies, and providing accurate reports in the desired currency. This functionality allows businesses operating internationally or with multiple entities to manage their financial reporting requirements effectively.

If your company has a more complex organizational structure, you will likely use a dedicated close and consolidate system to prepare your group accounts. Alongside this, you can use specialist financial reporting software, like CXO Software, to efficiently and accurately report your consolidated accounts.