Ad Hoc Reporting in the Modern Financial World: Mastering Tools for Dynamic Data Analysis
Dive into advanced ad hoc reporting tools designed for experienced financial planners, analysts, and executives. Discover how GL Connect revolutionizes data analysis with its Excel-based interface and Oracle Fusion Cloud integration.
Enhancing Efficiency for a Leading Fast-Food Franchise
A leading fast-food franchise, with a network of 7000+ stores globally, grappled with the challenge of manually disseminating financial and inventory data across their outlets. This task was arduous, requiring 4-5 days of effort by three dedicated employees.
The deployment of GL Connect revolutionized their approach. By harnessing the power of GL Connect’s bursting feature, the franchise automated this process. This innovative solution dramatically reduced the time taken to less than 4 hours, vastly minimizing manual intervention.
The result was a significant boost in efficiency and data accuracy. Employees, previously bogged down by manual data distribution, could now direct their efforts towards more strategic functions. This case exemplifies GL Connect’s capability to streamline complex data processes, proving to be a game-changer for the franchise's operational efficiency.
Streamlining Global Financial Consolidation
A renowned company with subsidiaries across the globe faced the complex challenge of consolidating financial data across different currencies. Their need was for a unified view of financials from all regional entities.
Enter GL Connect. By utilizing its Ledger Set Reporting functionality and translated balances support, the company was able to consolidate financial data effectively. This tool allowed for seamless aggregation and reporting of financials from various currencies, providing a comprehensive and accurate consolidated financial picture.
The impact was profound. The once cumbersome process of handling multiple currencies and consolidating data from various subsidiaries became streamlined and efficient. GL Connect's solution not only saved significant time but also ensured accuracy and compliance in financial reporting, enhancing the company's ability to make strategic, data-driven decisions globally.
Enhancing Data Reconciliation and Reporting
A well-known online platform for business reviews and local searches needed to manage and reconcile vast amounts of customer and supplier data effectively. They required a solution to cross-validate this data with their invoices and payments.
GL Connect provided the solution with its subledger drill data feature. This feature included comprehensive supplier and customer data, enabling the creation of detailed, pivoted reports. These reports allowed for efficient cross-validation and reconciliation with invoices and payments.
The impact was significant. GL Connect's feature not only streamlined the reconciliation process but also offered deeper insights into customer and supplier transactions. This led to improved accuracy in financial records and enhanced operational efficiency, proving GL Connect's value in managing complex financial data.
Tailoring Financial Reports with Custom Hierarchies
A leading financial services company needed to prepare their financial reports in two different formats, a requirement unachievable with standard financial segments. To overcome this, they turned to GL Connect and its custom hierarchy feature.
They created a custom mapping with up to 11 levels of hierarchies using GL Connect. This innovative approach allowed them to meet their unique financial reporting needs effectively.
This case exemplifies GL Connect’s versatility in customizing financial reports. The ability to create detailed hierarchies tailored to specific reporting requirements showcases GL Connect's capacity to enhance financial reporting precision and efficiency.
Use Case: Advancing Financial Reporting Efficiency
A client faced limitations with their previous reporting tool's drilldown capabilities, which hindered their ability to quickly access detailed Oracle Fusion Cloud ERP financial data.
They remarked, "Waiting for a 5-minute refresh in GL Connect is significantly more efficient than spending hours compiling multiple reports. With GL Connect, we instantly see the GL balance and drill down to all the necessary details in seconds."
This experience highlights GL Connect's advanced features, like efficient near-real-time Fusion Cloud reporting and one-click access to detailed data, which vastly improved their financial reporting process. GL Connect's ability to provide immediate, comprehensive insights exemplifies its edge in streamlining complex financial reporting tasks.