Close
Try QLIK for free
Try QLIK for free

Finance

Try QLIK for free

Challenges in Data & Analytics for Finance

To survive in today’s competitive market, retailers and wholesalers alike need to be able to analyze trends and react to business anomalies with speed and precision. Everyday a decision is delayed can translate to lost sales and margin erosion. With Qlik, business users benefit from self-service access to the information they need, when they need it, to make smart decisions to drive the bottom-line.
The Finance function is present in one or more forms at nearly every type of company in the world. The goal of a company’s finance function is to serve the organizations financial and accounting needs while laying the platform for the future and supporting the organization’s longer term strategy. All other business functions depend on the adequate and timely availability for both commencement and their smooth continuation to completion. In short, finance is regarded as the life blood of every business enterprise.
Why Change?

Give financial professionals the most relevant information. Help them make informed business decisions.

The most frequent challenges we face for the finance function are – Optimize budget allocations and forecast planning – Control and reduce the cost of operations – Increase margins and unit optimizations – Increase asset efficiency, streamline cash-flow – Reduce risk and increase transparency – All of them can be solved with Qlik.
 
 
Financial Planning &Analysis

Qlik is used across industries to help finance organizations with operational and financial control. Traditional tools create a bottleneck in FP&A, where users are continually waiting on data from other departments and functions, only to manually compile that data from multiple sources and extensive use of Excel. Limited analysis actually that takes place. Qlik enhances the analysis of forecast assumptions and outputs, as well as budgets and financial plans. Finance users can freely explore business unit performance against financial metrics and blend “top-down” & “bottom-up” forecasting visibility. The result is eliminating an inconsistent, resource-intensive financial reconciliation process, to streamline operational and financial planning for optimizing budget allocations and increased revenue from improved financial decisions.

 
Expense Management Expense management allows business to the opportunity to identify cost reduction areas under the constant pressure “to do more with less”. Cost centers and managers generally have no visibility to what they are getting charged for based on allocations of direct (project staff or travel) and indirect expenses (rent or administration staff). With Qlik, business users can freely investigate costs and expenses across multiple geographies, business lines, and systems, to understand detailed spending trends and identify efficiency opportunities. Qlik allows users to eliminate their reliance on end-of-month, high-level static reports, and managers will have the ability to not only proactively manage expenses as they occur, but also assess the true cost of ownership and real value of contracts and projects.
Revenue & Profitability Management This solution area also has some overlap into the Sales LOB. Profitability management is all about maximizing revenue, market share, & tradeoffs. Financially, the question asked is “how can we get the most out of every unit”? There currently exists a burdensome navigation through a massive amount of transactional (market, client, account, etc) data. Companies are constantly searching to increase margins and access pricing and growth models against changing market behaviors. Analysts can test pricing scenarios, compare estimates vs. actuals, and get the views they need of information, on-the-fly, on any device. This puts the focus back on business decisions that drive profitability, instead of the burdensome process of manually consolidating and analyzing information.
Cash-Flow & Balance Sheet Management This solution area revolves around the cash conversion cycle (Accounts Receivable & Accounts Payable) as well as the enhancin g report and management of general balance sheet assets, liabilities, and equity. A/R & A/P are often a manual process with paper-based communications, and poor control over financial supply chain. Companies play catch-up on growing transaction volumes a small staff attempts to collect on aged accounts. The faster the aged receivables turn into current assets, the greater the liquidity. Accounts payable is also typically a small staff; however, there is tremendous value in the relationships of the vendor base and external customer. The management of the balance sheet generally produces and itemizes financial data but lacks the indicators, visually highlighted pressure points, rapid data integration with multiple systems and tools.
Compliance & Risk Management Qlik helps reduce the internal analytical and data silos that prevent business leaders from gaining an enterprise-wide view of compliance and risk. Qlik allows finance and risk managers to rapidly integrate data from multiple sources, and align governance models with business for greater overall transparency. Business users can freely explore large volumes of risk data and quickly respond to unplanned inquiries, minimizing the manual efforts related to custom risk reporting. Auditors can use automated sampling techniques within QV as a means to enhance investigation and drastically speed up the process securely, without affecting current business processes. Typically, compliance models do not align with business strategies and hinder them, rather than enhance them. With Qlik, users can enhance existing internal controls and mitigate different levels of risk before they occur and enable the business to react immediately, for an overall reduction of fines, penalties, and fraud. The ad-hoc compliance and risk investigation increases profitability through unassociated and unexpected business discoveries.
Retail Analytics Qlik

Why Qlik?

Analyze customers, products and transactions across channels and geographical markets. Rapidly integrate data from point-of-sale, merchandising, supply chain, digital advertising, social media, financial, marketing, and resource management systems to identify revenue, margin and profit opportunities.

1100+

65+

Retail and wholesale companies rely on Qlik for their data analytics and insights. Years of Qlik experience and expertise make AtOnce your go-to partner for implementation, consultancy and training.
How can AtOnce help?

Finance Services

Consulting Having in-house knowledge of Qlik View or Qlik Sense, but struggling with a certain problem? Our consulting team is always ready to help you out. They are trained to help you out with performance audits, technical enhancements, and more.  
Implementation As a Qlik Solutions Provider, AtOnce has a dedicated focus on implementing all kinds of Qlik projects for retailers. Our experts will help you generate a high ROI by finding hidden insights in your retail data with both Qlik View or Qlik Sense.  
Training & Coaching Want more knowledge and expertise? Our AtOnce trainers can train you in Qlik as well. We provide both standard training for the entire Qlik portfolio or we can create a workshop based on your specific requirements or internal analytics project.  

Read the Ebook: 8 Tales of Finance Insight

Read the Ebook
Banner middle 1-1

SCHEDULE A MEETING WITH AN EXPERT

Try QLIK for free