As businesses struggle with increasing operational costs, finding ways to improve productivity across different departments is an initiative that can bring significant advantages to any organization. Still, many businesses today find it challenging to maximize their resources to their full potential.
In finance, working with business finance software can mean all the difference in managing company resources effectively and utilizing their finance teams more effectively.
In this article, we’ll explore how business finance software like Performance Canvas can boost productivity.
Intuitive Budget submission and Approval Workflows
Using a capable business finance software like Performance Canvas streamlines your financial budgeting, planning, and forecasting process. It includes intuitive budget submission and comes with organized approval workflows, so it’s easy to ensure budget reports and forecasts are submitted on time. As a manager, you can also clearly see the bottlenecks in the process so you can rectify them early on.
Centralized Data
When you’re using business finance software, you get a unified and centralized database. You never have to worry about information being scattered across multiple spreadsheets that might result in critical information being missed out.
Ensure Data Integrity through Standardized Data Entry
When you’re working with business finance software, you have the option to put in business rules to control how and when people should be inputting data. The ability to standardize and manage data entry through business rules injection ensures you have clean and reliable data at all times. Performance Canvas even contains tagging of data sources so the consumer of your budgets or reports understand where certain figures come from.
Share Files and Collaborate with Ease
When it comes to exporting financial documents, working with business finance software makes it convenient and secure to send balance sheets, income statements, and share other essential reports across your organization.
You can also easily collaborate through its smart team features like version control, audit trail, cell comments, and more. You will also have the ability to set role access to ensure that no confidential information is accessible to those who are unauthorized.
Business Finance Software Improve Cash Flow Projections
You need accurate financial data to gather crucial insights about your business and stay on track with company goals. Performance Canvas allows you to look at historical figures, study historical trends, and then compare that against actual numbers. This way, you can do variance analysis that will aid in improved projections. Performance Canvas will also allow you to do live forecasting or rolling forecasting, depending on what you think is most beneficial to your business.
Any growing business needs this to prepare for any market changes and stay ahead of the curve. Performance Canvas’s integrated finance software capabilities make it easy for any company to keep on track of its targets while being empowered to identify new opportunities along the way.
Be More Streamlined and Efficient
Two great things about Performance Canvas are – process streamlining and financial process automation. This means that before this tool automates your process, it first makes sure your approach is optimized. After all, automation only makes it faster, not better. Performance Canvas aims to do both.
Why Choose Performance Canvas As Your Business Finance Software
Performance Canvas Financials (PCF) was designed to provide support for businesses not only when it comes to dealing with complex financial issues but also to speed up their day-to-day financial operations. The software itself is designed to scale as your business grows.
PCF is also an easy-to-adopt solution for business users with no technical know-how. On top of having flexible financial planning and reporting capabilities, the software integrates with various ERP and line of business systems that will allow for a smoother flow of information across the organization. It is quite common when using Performance Canvas that users spot errors in the ERP system set-up. Many of its users have reported specific numbers not balancing in their system where Performance Canvas has shown them the problem lies in their ERP system.
If you’re looking for a reliable finance software for your business, Performance Canvas has all the basic FP&A features plus more advanced add-ons that can help you achieve your daily targets.
Learn more about Performance Canvas today.
