Every CFO today needs strategic insights to make well-informed decisions specific to their organization. But as industries face disruption, CFOs must learn to adapt to changing trends and explore new ways to achieve financial sustainability through their existing budgeting software quickly.
Many organizations today, no matter how small, are not immune to the threat of disruption. But rather than take this period of transformation as a threat to their existing system, CFOs can use this as an opportunity to explore how they can augment their current budget and financial planning system to deliver better business value.
Many financial planning and analysis tools can help these organizations do their work better. Performance Canvas Financials is a sustainable budgeting software that works well even for small and medium-sized businesses looking to scale.
As a CFO, here are some steps you can take to achieve a sustainable way of working forward and how Performance Canvas Financials can help.
- Streamline Financial Budgeting & Planning
Planning your budget can be a tedious process, especially with your financial data growing along with your organization. Having a scalable budgeting software that gives you the flexibility to plan and track the financial performance of your organization across all your growth stages is essential.
If you’ve noticed your on-premise budgeting software application is no longer able to meet the demands of your organization, Performance Financials gives you a streamlined budgeting and reporting system that allows you to model your unique business into it.
Performance Canvas Financials enables you to track data on a monthly, quarterly, or yearly basis. You can track and assess financial performance for greater efficiency and store your data in a centralized database so you can easily create and plan financial budgets or build reports with ease and without fear of varying versions of the truth.
- Use Relevant KPIs to Customize Your Budgeting Dashboard
Financial planning software is often ripe with useful features that work well for businesses of all sizes. But if you’re a small organization, chances are many of these features may not always apply to you. The worst part is, you continue to pay for them and incur costs when you don’t even use them. Using a budgeting software that allows you to customize your dashboard according to the features and data you need is ideal.
Performance Canvas provides an easy to understand and interactive dashboard which allows you to tailor the KPIs you track so you can focus on what matters the most to your business.
You can create and customize charts, graphs, and links so you can monitor essential business figures all in one page. Its interactive dashboard gives you seamless KPI tracking, integrated systems, and even allows you to link your KPIs to your business strategy so you can focus on the numbers that matter the most to your growing organization.
- Perform what-if analysis to track the impact of business decisions
When it comes to financial forecasting, many small businesses are limited by incomplete and unreliable data. But by using Performance Canvas, you can set up standardized business rules throughout your organization to ensure every data being added stays consistent and coherent.
Using Performance Canvas, you can perform unlimited what-if analysis to ensure your business can weather through varying future scenarios. Performance Canvas also allows you to test your assumptions and immediately see the impact of your financial decision across the organization.
It also promotes better organizational alignment by encouraging your organization to stick with best practices in the financial planning process.
- Automate P & L, Balance Sheet, and Cash Flow Reporting
Are you struggling with a complex web of transactions throughout your organization? Is it challenging to monitor cash flow or keep track of your invoices?
Using Performance Canvas, you can automate your P&L, balance sheet, and cash flow reports. These are just some of the many report templates you get within the system. You can also automate your Accounts Receivables and Accounts Payables, so it’s easier to keep track of all business transactions throughout your organization.
By automating your workflow, you can empower your organization with the right tools to keep up with the changing needs of the businesses while cutting down the time it takes for you to learn them.
Performance Canvas Financials for Small Businesses
As the threat of disruption challenges the existing financial structure of businesses of all sizes, CFOs need to recognize this shift and be prepared for budgeting and forecasting to become less precise. It is crucial to prepare for this need and explore a more agile budgeting software that is more equipped to meet these demands today.
Small businesses must always have a contingency plan in place and be prepared with how they respond to different business scenarios to ensure they can sustain how their current system operates.
If you’re eager to explore how you can radically improve your current budgeting process to meet the changing needs of your business, Performance Canvas Financials offers cloud financial forecasting, budgeting, and reporting solution so you can do everyday tasks with better precision.
Get in touch with our team today.