Business Intelligence

Giving Your Retail Financial Data a Seat at the Table (With FinWorx)

Here we’ll present the case for why it’s time retail enterprises gave Power BI models like FinWorx a seat at the table.


For retail financial reporting to deliver greater value than the raw sum of its parts, financial data has to speak to your boardroom in ways that no single laboriously compiled Excel spreadsheet or pie chart can.

More than that, it must present a big in-the-moment financial picture across all stores, departments and divisions, and a zoomed-in view of individual store, department and division performance— all at a second’s notice without lengthy rehearsals. If that description were a candidate for new CFO, your CEO would hire them in an instant.

The inconvenient truth is that countless retail enterprises fail to cross new thresholds of growth simply for lack of innovation away from legacy, manual methods of financial reporting and interpretation.

Here we’ll present the case for why it’s time retail enterprises gave Power BI models like FinWorx a seat at the table.

Why Top CFOs Turn to Enterprise Performance Management Tools Like FinWorx

Speaking to the WSJ, Adobe Inc.’s CFO Mark Garrett blew off a little steam on his gripe of traditional, legacy methods of manual financial reporting:

“I don’t want financial-planning people spending their time importing and exporting and manipulating data, I want them to focus on what the data is telling us.”
— Mark Garrett, Adobe Inc.


And that’s exactly the point here. Manual financial reporting in retail (and other industries) progressively conumes countless man hours and even greater uncalculated opportunity-cost.

Manual financial reporting

Document scanning and uploads, formatting graphs and charts and amending PDFs, data imports, inputting errors and so on.

Enterprise performance management with FinWorx

Each day, FinWorx gives hours back to executives across the business, eliminating clerical tasks—virtually overnight, executives gain new freedom to focus on data analysis and corporate strategy – ultimately work that contributes value and direction of the business.

FinWorx Won't’ Replace Excel. It’ll Just Become its Boss

Giving Financial reporting automation tools like FinWorx a seat at the table doesn’t mean pushing Excel to retirement—after all, the rich dashboard views FinWorx creates of retail finances across your inventory of stores, departments and divisions can easily be exported in .CSV format into Excel.

What’s FinWorx Capable of? Here’s What to Tell Your CFO

FinWorx is a powerful retail financial reporting and enterprise performance management model built on top of Power BI that’s compatible with SYSPRO and ACCPAC.

FinWorx features

  • Near-live representation of global retail financial data
  • Flexible reporting dashboards with adaptive views 
  • Fully automated income statement and balance sheet
  • Detailed hierarchies and drill-downs of transactions
  • Customised financial reports for company, stores, departments and divisions
  • Automatically calculated financial ratios

 

By giving FinWorx a seat in the boardroom CFOs and financial professionals gather and interpret powerful, trusted data to optimise retail performance across the entire portfolio of stores, or within problem areas that need careful cost optimisation.

What Are some of the Main Use Cases of FinWorx Financial EPM?

Optimise financial close—By streamlining the financial close, FinWorx helps you respond quickly with reliable, accessible financial reporting for today’s rapidly-changing regulatory environment.

Optimise financial close—By streamlining the financial close, FinWorx helps you respond quickly with reliable, accessible financial reporting for today’s rapidly-changing regulatory environment.


Streamline reconciliation—Through automation, FinWorx also lets finance professionals easily manage security and risk typically associated with accounts reconciliation. 

Manage and drive financial performance—Gain near-real-time insight into dimensions of cost and profitability across the entire organisation, or within individual stores, departments and divisions to determine how best to strategically manage resources.

Satisfy all your reporting requirements—With more and more financial reporting standards to comply with, FinWorx’s real-time report automation ensures your report data stays accurate, complete, and current and available to whoever needs them.

Put FinWorx Alongside You In Your Boardroom and Strengthen Your Position as a Business leader

As with any move toward optimising performance with cloud automation, giving FinWorx a financially strategic voice in your boardroom starts with a demo.

Schedule some time with our team andb we’ll show you with real data the retail enterprise performance management potential FinWorx can quickly bring to your data-to-decisions capacity.

We’re a select SYSPRO implementation partner

EnterpriseWorx has been chosen as one of only a handful of UK SYSPRO implementation partners—if you want to onboard FinWorx as your financial EPM tool of choice within SYSPRO, we can consult on how to ready your data environment so that FinWorx delivers the performance-changing impact we’ve outlined here. 

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