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Automate your reporting and planning processes
Organisations with multiple group entities and sources of information, use Finnivo to simplify and automate their consolidation, reporting and planning processes.
Close to $100 billion in annual revenue is currently being consolidated in Finnivo by various multinational, listed and state-owned entities.
The application of Finnivo is not limited to a particular industry. Given the diverse nature of our clients we believe Finnivo is being utilised within any industry you can think of.
When looking at the 4 phases of a typical reporting and planning process, for any organisation with multiple cost or profit centres, group entities or multiple sources of information, Finnivo is used to automate and streamline both the data collection and the consolidation phases of the process. Finnivo further provides extensive drill-down and analysis capability, as well as tools to design and publish your final output reports and presentations.
We describe how Finnivo is used within the different phases, in a series of 4 short videos below.
The data collection process involves gathering financial and non-financial data from various sources across the organisation. These sources may include ERP systems, spreadsheets, operational systems and other external data sources. The data gathering process is often a very manual and time-consuming exercise, adding little value to the reporting process. Finance teams often spend far too much time collecting data and assembling reports, and too little time analysing and drawing real business insights from the data.
Finnivo is used to automate the data collection process and to consolidate a multitude of different inputs from systems and people throughout an organisation...
In this 1st video, we detail how you can, from scratch, implement a new application used to simplify and automate any reporting and/or planning process. This includes the setup of your data collection templates, and a number of reporting structures in which your ‘entities’ can be grouped differently (e.g. per segment, per region, or per legal entity).
Once all data is collected, the data is consolidated into a standardised view of the organisation's financial performance, including income statements, balance sheets, cash flow statements and key performance indicators (KPIs). The consolidation process involves reconciling and eliminating inter-company transactions and balances and adjusting for any differences in accounting standards and currencies used by the subsidiaries.
In this video, we explain how Finnivo is used to overcome the challenges that finance teams normally face when trying to reconcile differences, calculate journals to consolidate at different levels, or deal with equity accounting. This includes dealing with the differences that occur due to various reasons including exchange rate variances or human error...
There are multiple ways in which consolidation entries can be processed, imported or automated in Finnivo, as well as a number of options to deal with associates, joint ventures or other types of investments.
Finnivo provides you with extensive drill-down and analysis functionality enabling users to perform variance, trend, sensitivity and ad hoc analysis, scenario planning and monitoring of KPI’s across the organisation.
From multiple drill-down options; to grouping of results in multiple structures; to mining, extracting, plotting and illustrating data; to integrating with other systems, by leveraging Finnivo’s extensive analysis capabilities, finance teams, business unit leaders and company executives, will gain deeper insights into their organisation's financial performance, enabling the identification of opportunities for growth and the achievement of their strategic objectives.
In this video, we look at a number of the options available to you, including scenario planning, where you deal with multiple budget submissions or forecasts based on varying drivers or circumstances...
Finnivo also maintains logs and audit trails for data movements and user activity.
In this video, we focus on how you can custom-design and publish your final output reports and presentations.
Examples of these custom reports include board packs; or Annual Financial Statements; C Suite or Exco Reports; reports or presentations to investors, analysts and other external stakeholders; as well as other custom reports your users will need to design and refresh from month to month.
These reports and presentations are designed once upfront and then refreshed each month with the latest updated data...
Finnivo provides users with a range of flexible and easy-to-use tools to write custom reports themselves, without needing coding skills, or needing to contract consultants to write it for them.
These reports can be published in various formats, including Microsoft Excel, Word or PDF. Finnivo will also automatically update the tables and graphs within the slides of your PowerPoint presentations. Users no longer need to copy and paste between spreadsheets, or from Excel to Word or PowerPoint each month, when they generate their monthly reports.
Even your Integrated Reports, or Consolidated Financial Statements, which some refer to as ‘glossies’, and that you see published on the investor relations website pages of public companies, can be designed to its full extent and published in PDF format, from Finnivo, without needing to send multiple files to typesetters or publishers.
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Finnivo is exclusively marketed, implemented and supported by Infinitus Reporting Solutions, a niche player in the Corporate Performance Management solutions space.
The implementation work is carried out by highly talented and qualified financial professionals.
