BeyondSquare FinAlyzer - Your partner for Financial Consolidation, Close, Analytics & Reporting

Today’s business context and priorities call for CFO’s to have access to their organization’s financial performance reports at all times. An effective CFO will detect financial performance trends early in the cycle, analyze the same in light of the various dynamics involved and initiate necessary course corrections. Timely and correct decision making can turn the fortunes of an organization, and in turn that of the CFO. To make this possible, the CFO inevitably needs access to actionable insights anytime, anywhere. While what most CFOs track, are somewhat similar, but still each organization has to spend considerable thought and time on designing MIS requirements as per what is important for their business. Almost all CFO’s I have interacted with have put in a lot of thought in arriving at the metrics, KPIs and MIS formats. Irrespective of the investments they have made on a variety of Software Solutions, CFOs have often voiced these concerns in my conversations with them: We...

I am sure it is the aspiration of every CFO to simply wear a pair of magical glasses that immediately gives them a bird’s eye view of the financial health of their company. The needs of each business are different, and it indeed will be a tall order to build the perfect pair of magical glasses.   However, it is also not so difficult to abstract the problem and arrive at a reasonably common set of indicators that CFOs need to track irrespective of their business. The process of mining the information and deriving meaningful intelligence from it should not in itself become nightmarish. Similarly, it should be relatively easy to choose the mode of delivering that information – be it a dashboard or a distributable MIS report. With a pair of these magical glasses, strategic decision making process can be easily accelerated. Here is my wish-list for my pair of magical glasses: ·          The ability to compare information across various dim...

In today’s business context, life of a CFO is that of the radar as well as the captain of a moving ship. Today’s CFO is expected to contribute well beyond the traditional role of cost management and operational controls. The CFO needs to play a delicate balancing act across multiple dimensions, some of which include: Impact of globalization: having an effective finance function that can account for the increasing complexities of running a global business Regulatory adherence: Global regulatory requirements are constantly changing and continually increasing, and CFOs have a personal stake in regulatory adherence Risk management: the nature of risks that an organization faces keep changing Reporting requirements: managing the ever broadening and often burdensome reporting requirements The CFO needs to do all this, while also keeping a keen eye on rigorous ongoing cost management and operational efficiencies to fuel profitability and strategic reinvestment. All this under...

Automating the Financial Consolidation Process Financial reporting and consolidation  is often a manual, time consuming and potentially error prone process in most companies. With Companies Act 2013, it has become even more important to evaluate and implement systems and controls  for preparing Consolidated Financial Statements. Companies should seriously evaluate the possibility of automating their process for financial reporting and consolidation: As it is mandatory to provide consolidated financials as per regulatory framework To ensure data consistency between internal MIS statements and other financial statements For Legal consolidation as per the shareholding structure For speeding up time consuming manual process in completing statutory audits and preparation of final consolidated reports For standardisation of multi-geography reporting (e.g. Sch VI, US GAAP, IFRS etc.) For having one...

BeyondSquare Financial Management Suite BeyondSquare Financial Management is a scalable application for financial consolidation, financial performance reporting and disclosure management. For more, visit us at www.beyondsquare.com.