Real-Time Financial Reporting

Case Study

About the client

Leading healthcare organization in the industry of addiction treatment. The client had been using Excel for reporting, resulting in hardcoded calculations and limited accessibility with manual errors from multiple data sources, causing lack of integration between them.

Industry

Hospitality

Revenue (USD)

Million

Head Count

Employees

Countries Of Operation

US

Overview

To transition the Profit and Loss (P&L) statement
Migrate through Income Statement
Balance Sheet reports
Preserve rules and calculations used in Excel —Replicate the logic in DOMO

Challenges

Repetitive Review of Excel Sheet for P&L, Income Statement and Balance Sheet
Building the logic and the necessity to update the mapping file combination of Account and Department Number and manual creation of reports.

KPI's

Key Performance Indicators (KPIs) Involved:

Income Statement
Profit and Loss Statement
Balance Sheet

AUDIENCE BENIFITED

Executives Internal Data Analysts Accounting team Client stakeholders

Impact

Data Analytics: Centralized data ensures accurate insights for decision making.
Reporting: Automated data with real time analysis ensures a seamless process of building reports on client progress.
Improved Financial Visibility: Financial Insights were readily available due to Real-time reporting in BI tool.
Time and Cost Savings: The implementation of Automation Helped saved time and effort by trimming the manual tasks to be done.
Enhanced Data Accuracy: Errors caused due to Manual entry was avoided with BI Integration
Deeper Financial Analysis: The Drill down capabilities provided intensive financial analysis enabling informed decision-making.