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Listen "Episode 15: A Financial Consolidation is an Analytics Project!"
Episode Synopsis
Episode 15: A Financial Consolidation is an Analytics project!
Financial Analytics is an important branch of the field of Analytics. It involves data management, modeling and reporting. A Financial Consolidation system is a Financial Analytics project that brings together data from one or more ERP (Enterprise Resource Planning) system together with a financial model with the purpose of producing consolidated financial reports. Not only are these obligatory for regulatory reporting, but they can also be a strategic asset. Shorter month-end closing cycles, coupled with detailed product/segment/regional/entity/etc reporting made available quickly, to front line managers WITH the ability to drill down for more detail in an intuitive and interactive manner … can all translate into business value.
In this episode we tell the story of how a real QueBIT customer moved beyond Excel spreadsheets and implemented a robust enterprise financial consolidation system using a combination of a relational data art and a special purpose multi-dimensional database technology. Along the way, we cover some of the fun stuff that needs to be considered on a journey like this, and hopefully convince you that it is worth the effort!
Financial Analytics is an important branch of the field of Analytics. It involves data management, modeling and reporting. A Financial Consolidation system is a Financial Analytics project that brings together data from one or more ERP (Enterprise Resource Planning) system together with a financial model with the purpose of producing consolidated financial reports. Not only are these obligatory for regulatory reporting, but they can also be a strategic asset. Shorter month-end closing cycles, coupled with detailed product/segment/regional/entity/etc reporting made available quickly, to front line managers WITH the ability to drill down for more detail in an intuitive and interactive manner … can all translate into business value.
In this episode we tell the story of how a real QueBIT customer moved beyond Excel spreadsheets and implemented a robust enterprise financial consolidation system using a combination of a relational data art and a special purpose multi-dimensional database technology. Along the way, we cover some of the fun stuff that needs to be considered on a journey like this, and hopefully convince you that it is worth the effort!
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