Having the proper financial planning software can help you scale your growing organization. Advisors have many alternatives, but these are three “must-have” components in planning software.
Agile and Future-Focused
The FP&A function takes over where accounting leaves off. The FP&A function focuses on the future and analyzes the past. It ties the overall strategy to annual operating and capital budgets and a long-term strategy. Financial forecasting and annual goal-setting are included.
FP&A uses the method of translating strategic goals into annual operating and capital budgets. It provides multi-year financial modeling and annual target-setting processes, and it leads and oversees the financial management function to ensure the delivery of yearly budget results and to strengthen cash flow predictability.
Consistency
An effective enterprise financial planning and analysis (FP&A) software helps ensure that data is consistent and dependable so that sensible decisions may be made based on accurate information. To help the organization’s management make informed decisions, a well-run FP&A office will also produce and publish analytical reports like exception reports, highlight reports, and ratio analyses.
Linked to Investment Performance
Investment performance is inextricably linked to financial plans. It is important to have a planning tool that allows you to reach your goals or allow you to progress toward achieving them.
Access to a Wide Range of Customizable Reports
Presenting results and making action plans should be simple and convincing. Your financial planning tool must allow you to tailor your reports to your specific needs so that you can paint a picture of the financial health of the business.
Streamlined Processes and Workflows
Your choice of planning software should prioritize improving the customer experience, but it should also boost the productivity of your team. Take advantage of a system that allows you to shift from gathering data to providing recommendations swiftly.
Financial planning software upgrades may be in order for your company.
Inquire about a demo to explore how the Performance Canvas Financial Planning platform can help enhance your overall FP&A experience and the efficiency of your staff.
Easy Integration
An effective financial planning and analysis (FP&A) department can make a significant contribution to your company’s growth and profitability.
FP&A needed to be improved 20 years ago, according to an article in CFO magazine, which stated that “to be relevant in the pursuit of strategic objectives, finance teams had to become stronger business partners and create analyses that help decision-makers increase economic profit.” It’s a call to arms that resonates today.
Performance Canvas Financials offers to streamline and intelligently automate the whole FP&A process from beginning to end with its deep, innovative, and user-friendly FP&A solution.
All of your financial reporting and analysis needs may be met with Performance Canvas Financials’ unified reporting and analysis platform. Adding this software to your ERP system will give you complete control over your financial planning and analysis process.
