Finance Reporting & Analysis
Applications of Industrial-Strength BI White Paper
Basel II BriefingCompanies rely on business intelligence to provide visibility into the full scope of their business and financial operations. As corporate financial data faces greater scrutiny, finance and accounting departments must make detailed information more quickly and widely available. Business intelligence uniquely provides efficient transparency, analysis and delivery of corporate financial data.
Finance and accounting departments across every industry are increasingly leveraging business intelligence to analyze sources of revenue and cost, view data underlying the statement of cash flows and compare planned and actual revenue and expenses. Companies must satisfy public accounting requirements for government organizations and shareholders, as well as deliver financial data to financial analysts, business unit management, executives and directors.
| Finance Reporting & Analysis Areas | |
Achieving Financial Transparency
Can your financial reporting stand up to the new requirements imposed by the Sarbanes - Oxley Act -- higher penalties, higher risks, greater precision -- with much less time to accomplish it?
Studies have shown that over 60% of CFOs believe that their existing financial applications are inadequate. These applications are fine for recording accounting transactions, budgeting and planning; however, they lack the ability to deliver comprehensive, live, transaction-level financial reporting with automatic fraud detection and proactive alerting.
MicroStrategy's technology has helped its customers achieve full transparency into their financial data. The MicroStrategy platform is optimized to help companies deploy flexible reporting, free-form investigation and automatic anomaly detection allowing businesses to file statutory reports with the utmost confidence, precision and accuracy.
MicroStrategy delivers five best practices for financial transparency:
Extensive Data Gathering |
Environment for standardization of data and library of reports |
Broad Data Visibility |
Deployment to hundreds and thousands of users with full security |
Vigilant Fraud Detection |
Automatic fraud detection through scouring of database |
Material Spotlight |
Timely and thorough identification of material elements |
Live Reports |
Drilling across time for trending and down to transaction detail for complete analysis |
Business Benefits
With MicroStrategy, your business can:
- support a consolidated view of financial data coming from multiple ERPs, spreadsheets and other planning systems;
- deliver statutory GAAP-compliant reports replacing manual consolidations;
- investigate financial data more thoroughly by drilling down to transaction-level detail from high-level reports;
- provide hundreds and thousands of authorized users with the highest levels of data security;
- automatically detect anomalies and variances in the financial data; and
- proactively deliver important information to the authorities.