Performance Canvas Financials delivers full financial reporting and analysis, budgeting and planning, performance management, and financial consolidation capabilities.
It is used globally by over 2500 medium to large sized organizations with at least 3 people working in the finance department. It is available as an on-premise solution or as a hosted solution.
While the reporting, budgeting, forecasting, and consolidation capabilities of Performance Canvas are all delivered in equally robust measures, each customer of Performance Canvas gets to decide which specific capabilities they want to use the solution for – be that a select aspect or all of it.
It is not uncommon though to start with either budgeting and planning or reporting and then activate the other features as needed as they get to know the tool a bit more. This is a good practice to make sure that the implementation is laser-focused and promptly accomplished.
When it comes to reporting, Performance Canvas works very much like a central repository for financial and non-financial data that helps remove the manual nature of the reporting tasks.
In this article, we´d like to highlight the top 8 reporting and analysis capabilities of Performance Canvas that you should know about in case you are scouting for a high performance reporting solution.
- Dynamic and Interactive Reporting
Performance Canvas understands the need to go beyond just reporting in a static format of rows and columns where each view requires a new, separate report. This is the reason why Performance Canvas allows all its users to access data online with flexible navigation options.
Performance Canvas boasts of its simplified and streamlined reporting capabilities. It offers more than 30 report templates within the solution and has made it very easy for all business users to create a report from scratch using its report wizard.
With this, Performance Canvas users can also choose to pivot data, select from a list of different formats, and export viewed data in various formats for further reviewing, printing or distributing.
- Drill down and Drill Across Capabilities in Reports
Performance Canvas´ drill down and drill across capabilities offers a granular view of the organization´s data without needing to access another system.
This capability enhances visibility and comprehension of reports in a more detailed manner because figures are shown in a way that prevents overload of information for the report creators and consumers. It also boosts the integrity of the organization´s data because all transactions are drillable.
- Project Reporting
More than just covering report ranges within the fiscal year, Performance Canvas allows users to cover project periods from its end to start crossing multiple years.
It can do a year to date report on projects for better tracking and transparency.
- Beyond Financial Data Reporting
More than just reporting on financial data, Performance Canvas allows incorporation of statistical and non-financial data.
You can even perform ratio analysis in the reports or compare actuals to budget projections in order to investigate deeper at variances or variance percentages.
Within the solution, you can also determine historical trends/patterns from the non-financial data.
- Dashboard Reporting
Performance Canvas also has robust BI functionalities which includes the ability to create high level, data visualization reports in order to make tracking and presenting of metrics and KPIs easier.
Performance Canvas dashboard reporting ensures that you, as a user, can have a better understanding of the entire picture through the ability to do quick reviews in functional areas of the organization.
- Reporting in Multiple Entities and Multiple Currencies
Global or multinational companies that operates in multiple locations using various currencies can find that Performance Canvas makes it easy for them to work across these entities and currencies.
All of Performance Canvas users can enter the budget and report in their local currency where all these rolls-up to the default or main currency of the organization.
- Drag and drop Report Wizard
One of the best reporting features of Performance Canvas is its drag and drop wizard. If you do not want to use the pre-made templates available in the solution, you can simply create your own report from scratch.
You simply have to drag and drop the parameters and voila, you will have a report in just a few seconds.
- Workflow driven
Performance Canvas incorporates reporting best practices within the solution. One of these best practices is having a structured and intuitive workflow to work with.
Having a structured way of working provides a good start point for tracking pending and submitted tasks for the entire organization making sure that finance managers or anyone responsible is aware of delays and the people responsible for the delays for better follow ups and shortening of cycle time.
If you are curious or if you want to know more about all these reporting capabilities of Performance Canvas, visit www.performancecanvas.com or email firstname.lastname@example.org today and we will be happy to offer a free online demo for you and your team.
Alternatively, talk to one of our finance consultants about the latest best practices in reporting and analysis.
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