A financial dashboard is used to keep track of and visualize KPIs, expenses, profits, sales, performance, and just about any other metric that an organization wants to keep tabs on. As finance professionals are under pressure to deliver more information and faster than ever before, they can leverage financial dashboards in order to uncover insights. Financial dashboards can help spot anomalies and detect changes that are worth analyzing and reporting.
Today, with tools such as DataRails, it’s easy to build a financial dashboard. DataRails’ web-based, real-time financial dashboards are customizable and let you visualize your data as you see fit.
Financial dashboards bring together and visualize an organization’s performance data in one place. By doing so, finance professionals can easily see what’s going on in their business, which makes it easier to detect anomalies or changes that are worth reporting on. Effective dashboards are able to draw meaningful correlations, deliver insights, and unearth variances in the numbers.
Companies should use financial dashboards as this is an excellent way to get a holistic picture of organizational performance, as well as view data in real time. With dashboards, finance professionals can validate numbers faster, drill down to discover variances, and detect specific points that need to be addressed.