It can be a mammoth effort for the Finance team just to get the information they need – before they can ever start to answer any questions. Spreadsheets have become unwieldy that populating and managing them has become a resource-intensive process.
Ever since the days of Dot-Matrix Printers running off invoices overnight, there has been a huge demand for a focused, insightful, interactive summary of an organisations’ Fiscal Month/Quarter/Year Position. It has been the pipedream of many an FD/CFO to have easy access to the answers to the Six-W’s (Who, What, Where, When, Why & How).
Unfortunately, the reality of this task often requires a gargantuan effort on the part of the Finance team at each period-close, as they scramble to assemble dozens and dozens of disparate reports, CSV files, emails and pumping them all into a complicated, formula-laden, labour-intensive (and most of all – temperamental!) Excel Workbook that tries to distil the raw data down into a Board Pack / Committee Paper / Slide Deck.