Unreliable Spreadsheet Processes
Your Data is Only as Good as the Processes that You Use to Create It
Spreadsheets are great personal productivity tools, but when information is scattered across financial analysts' laptops, you get lack of controllability, inefficiency, inaccuracy, lack of auditability, and lack of compliance in decision support and planning applications. This also leads to data management issues because the information resides on people’s laptops rather than in a central repository.
Financial analysis often relies on band aided approaches that sacrifice efficiency, controllership, accuracy, auditability and results. The result: you may make the wrong decisions on pricing, workforce planning, inventory, equipment, maintenance, demand planning and other key areas. You may also have errors in accruals and reserves in the financial statements. You may also violate standards of internal control and lack compliance with Sarbanes-Oxley.
These omissions can negatively impact financial performance, increase the cost of analysis, and keep the chief financial officer awake at night.
Financial Decision and Planning Workbench
- Decision Analytics – utilizes SAS analytics such as forecasting and optimization routines within the financial workbench to do scenario analysis and derive optimal pricing, optimal inventories and optimal workforce requirements. Utilizes process and workflow that meets controllership and governance standards.
- Budgeting and Planning — increases the quality of the budgeting process by shifting analyst and manager time from preparation to value-added analysis. Eases communications and speeds up planning cycles using workflow control and enterprise collaboration.
- Consolidation and Reporting — close the books efficiently and quickly where ownership rules, intercompany transactions, currency translation, and other factors increase consolidation and reporting complexity. Meet all accounting and regulatory requirements while using a fully compliant process.
- Inventory and merchandize planning — incorporate demand forecasting and inventory optimization into the planning process. The workbench can be used as part of S&OP process as well as financial planning and scenario analysis.