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A collection of financial topics for the CFOs, Finance Executives, and Finance Experts

Support the Decision-makers, not the Excel Spreadsheets

If there is one thing finance departments across the globe agree on, it is the fact that using Excel spreadsheets for budgeting and reporting is a pain. No matter how careful each finance analyst is in governing excel spreadsheets, these … Read More

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How to Budget, Forecast, Report Better in 2019

And just as fast as it came, 2018 is ending. For many finance departments, it is a time to take a step back and reflect on the bottlenecks of the entire budgeting and reporting process. Was this year´s close process … Read More

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Why you Need More than Just your ERP System for Balance Sheet and Cashflow Validation

Businesses have several and rigorous month-end close activities to ensure that their outputs are accurate. These activities are meant to generate real-time business insights to support the decision-making process of their frontline and senior managers. These close activities are composed … Read More

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When the Next Recession Comes, Will Your Business Manage?

It has been 10 years since the great recession and so many are on the lookout for signs of an impending financial crisis in the horizon. We are still in an era of low interest rates and strong economic growth … Read More

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Real-time Data is the Elixir of Businesses

Data comes from a multitude of sources. There is operational data and then there is data that flows through financial systems. There certainly is no shortage of data in businesses. In fact, accumulating massive amounts of data daily is a … Read More

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How Digital Change Bullies the Ever Cautious CFO

There was a time when CFOs deemed it important not to take the first steps in anything new. CFOs are by nature very cautious people for good reasons and taking the first step was seen as something too risky and … Read More

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The Best Financial Analysis Software for Forward-looking Businesses

Closing the books faster and more accurately remains to be a vision for many organizations. At the moment, closing the books is a recurring headache for finance departments who are still operating on old spreadsheet ways. While there are conscious … Read More

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Business Budgeting and Forecasting in the midst of Rising Investor Anxiety

September and October 2018 have been turbulent months for the market. Dow Jones industrial average and S&P 500 have now entered a negative territory. Nasdaq also dropped 4.4% amid growing concerns of weak profits and the potential negative consequences brought … Read More

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Automating Journal Entry to Improve Corporate Financial Analysis

In this day and age, it is quite hard to believe that many large organizations still do things manually but they actually still do. Why this is so is a rather complex question to answer. The finance department is one … Read More

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What Makes Driver-based Forecasting Challenging?

Driver-based forecasting means you as a company base your financial forecasts on key business drivers. It is one of today´s best practices and most recommended approach for supporting a company´s management needs. However, many businesses are hesitant to adopt driver-based … Read More

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Clarity of Process and Workflow in Corporate Budget Planning

A huge number of businesses still send out excel spreadsheets to the managers involved in their corporate budget planning process. These managers are expected to complete their part of the figures and to submit them afterwards. The finance team then … Read More

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Advanced Financial Modeling in the Cloud

A finance analyst is expected to be comfortable with two things – numbers and excel. One of the main reasons why a finance analyst has to be good with excel is because he or she is expected to perform financial … Read More

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Webinar: Expectation vs Reality in Cloud FP&A Deployments

Transitioning to a cloud solution involves a lot of planning and preparation both from customers and software vendors alike. There are key things that are worth paying particular attention to such as: People, Process, Data, and Technology. The reality is … Read More

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The Reality of Cloud-based Financial Software Implementations

There was a time when finance departments preferred on premises solutions. A time when long implementation times were still acceptable; extensions, patchings, and maintenance are expected to be done solely by the vendor and IT team; and a time when … Read More

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The Characteristics of the Best Corporate Financial Software

It is no secret that many vendors of corporate finance software claim to have discovered the secret ingredients which make up the best corporate financial software. The truth is that most of these vendors look into what competing vendors are … Read More

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5 Practical Questions on Performance Canvas Self-service Financial Reporting

When it comes to the world of financial planning & analysis, there is a push towards self-service financial reporting and analysis. What this essentially means is that you empower your finance staff to perform their own analysis, query the data, … Read More

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Improving Excel-based Corporate Budgeting

Using excel spreadsheets for corporate budgeting is not always a bad thing. For smaller companies with a fairly simple business model and a small number of users, excel spreadsheets is perfect. Companies that do not have huge volumes of data … Read More

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Can You Relate to These 7 Real Life FP&A Issues?

Even the smallest companies plan for growth and a critical component in order to achieve that vision is by performing financial planning & analysis. This means, among other things, performing budgeting and planning/financial forecasting, reporting  analysis, financial consolidation, and tracking … Read More

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FP&A Tutorial Series: How to Change User View

Performance Canvas Financials – a complete, cloud-based FP&A solution has introduced in May 2018 a lot of new and exciting features that is sure to make performing financial planning & analysis faster as it improves the quality of the FP&A … Read More

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Finance Workflow Automation in Performance Canvas Financials

Finance departments have the gargantuan task of making sure all transactions in the organization are recorded timely and accurately. On top of that, they also need to be ready with valuable business insights so they can support the leaders in … Read More

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What Constitutes the Best Financial Budgeting Software?

Financial budgeting software is a tool that is meant to support the finance department´s execution of the budget process. The goal is that a company´s corporate financial budgeting should effectively link strategy and its execution. These days many decision makers … Read More

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5 Drivers to A More Efficient Financial Consolidation and Reporting Process

Companies that have multiple entities or those that are publicly listed often struggle with several bottlenecks in their financial consolidation and reporting. Tasks such as integration of new legal entities or follow-up of purchase price accounting puts the entire process … Read More

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Most Common Challenges & Solutions in Financial Budgeting and Forecasting

There are 7 well known challenges in financial budgeting and forecasting. While finance departments are fully aware of their own challenges, it is important to note these problems clearly so that decision makers drive the needed internal change and so … Read More

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Webinar: 2018 Best Practices in Financial Planning & Analysis

Do you hate your financial planning and analysis process because it doesn´t support sound decision-making? Does it take too long to complete? Is your FP&A output outdated before you can even finish it? Does it make collaborating with many people … Read More

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5 Simple and Straightforward Data Governance Best Practices

Do you have 100% confidence your data is reliable? Is your data quality consistent across the entire organization? Can the insights from your data governance support sound decision making? Can your data analytics pave the way for an improved and … Read More

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How to Determine if the Budgeting and Planning Solution is Right for Your Organization

If you are reading this article, it is probably because you hate your budgeting and planning process. Does it take too long to complete the entire budgeting cycle? Is it not helping you make sound business decisions? Is the data … Read More

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What Financial Planning and Reporting in Finance Seeks to Accomplish

FP&A analysts are the voice of reason for decision makers in an organization. The FP&A teams usually consist of highly intelligent and capable individuals that analyze a serious amount of data and metrics. FP&A analysts are excellent problem solvers and … Read More

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Live Forecasting vs Traditional Forecasting vs Rolling Forecasting

Performance Canvas Financials, a complete and cloud-based FP&A solution that can be installed and provisioned in as fast as 5 minutes, recently introduced one of its most powerful capabilities – Live Forecasting. However, not many understand the differences between traditional … Read More

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Legacy Systems Still Holding Back Automated Financial Reporting

Data analytics, robotic processes automation, and artificial intelligence have all contributed to the acceleration of data generation. Having such large amounts of data have made many organizations constantly play catch up daily and it has made their financial reporting rather … Read More

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10 Features Found in the Best Cloud-based Financial Dashboard

Dashboards serve an important role for many organizations in their quest to uncover critical business insights. Organizations use dashboards in gathering business intelligence which they hope would guide them in their day-to-day decision-making. More than just being a bunch of … Read More

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