As year-end approaches, finance teams gear up for a demanding period. Navigating year-end complexities requires both accuracy and speed to deliver a clear financial picture of liquidity, profitability and future prospects.
Corporate Planner is an integral part of how many businesses manage these critical processes. It provides a unified platform that significantly streamlines and enhances financial consolidation, reporting and planning activities, particularly during the intense year-end closing. From seamlessly consolidating departmental plans to directly analysing key financial statements – income statements, cash flows, and balance sheets and formal financial consolidation of Group accounts, Corporate Planner equips businesses with the tools needed to navigate year-end challenges effectively.
How Corporate Planner Simplifies Workflow
Corporate Planner can transform the entire year-end closing and financial planning cycle, allowing organisations to tackle these tasks with greater efficiency and reduced stress. Here’s how:
- Seamless Data Integration: Corporate Planner can act as a central hub, effortlessly connecting accounting, ERP, and other operational systems. This ensures all crucial data is readily available in one place, eliminating the time-consuming and error-prone process of manual data transfer. Consolidating various departmental plans is now straightforward, and immediately their impact on the core financial statements is evident.
- Automated and Efficient Reporting: Generating reports that meet both internal management needs and external regulatory requirements is now a matter of a few clicks. Whether it’s for internal performance reviews or providing documentation for auditors, the information is easily and quickly accessible.
- Enhanced Transparency through Variance Analysis: The near-real-time analyses and intuitive dashboards within Corporate Planner allows rapid identification and understanding of variances between actual results and planned figures. This insight, coupled with Corporate Planner’s forecasting and scenario planning capabilities, makes for better informed decision-making and response to changing circumstances.
- Agile Planning and Forecasting: Corporate Planner enables businesses to develop detailed and accurate financial plans. Features like scenario planning and rolling re-forecasting are invaluable in anticipating potential risks and opportunities, allowing for timely and effective responses.
- Robust Tools for Key Financial Areas:
- Liquidity Management: Corporate Planner’s unique easily configured integrated P&L, Balance Sheet, Cashflow, Capital and Loans scenario planning and reporting module aids liquidity management, contributing to compliance with financial covenants and long-term financial stability.
- Profit and Loss Statement Analysis: Corporate Planner facilitates efficient planning, reporting and in-depth analysis and planning of profitability across businesses
- Investment Controlling: The platform’s capital asset, investment and loans planning capability enables investment plans’ capital borrowing requirements, cashflow and scenarios to be evaluated and managed.
Benefits of Corporate Planner
- Significant Time Savings: Automation of key processes can drastically reduce manual effort across your finance team, which can save hours a week, and add up to a lot of extra time back over the course of a year.
- Improved Accuracy: By eliminating manual data entry human error can be minimised and ensure financial data is consistently up-to-date and reliable.
- Increased Efficiency: Having all relevant financial information centralised streamlines workflows and accelerates decision-making processes, meaning everything gets completed much more quickly.
- Enhanced Data Integrity and Auditability: Corporate Planner provides a clear audit trail, ensuring our data is traceable and compliant.
Corporate Planner is more than just software; it's a crucial tool that empowers businesses to navigate the complexities of year-end closing and financial planning with greater confidence and efficiency. At Account-Ability we specialise in helping you to implement Corporate Planner to get the best out of your business. Click here to book a demo.