Finance Analytics: Financial data analysis made simple

Managing Accounts Receivable (AR) is crucial for a company’s success, as it refers to the amount a customer owes for goods or services received and the process of converting this debt into cash. A graphical dashboard displaying receivables data can provide valuable insights into an organization’s receivables status and cash position. AR dashboards can even be set up to track metrics like the working capital ratio. Find out how the Tableau finance analytics team automates manual processes to prepare and transform financial data to improve operational efficiencies and gain more time for strategic analysis.

Exelon uses analytics to transform its internal audits

Make sure you include important stakeholders who may utilize the dashboard to make decisions when sharing and do so with purpose. Click “Get Data” in Power BI Desktop to establish a connection to your data sources. Excel, SQL databases, SharePoint, Salesforce, and many more data connectors are supported by Power BI. A revenue dashboard will help you to pay attention to the income streams of your company. You can concentrate on managing expenses and maximizing operational effectiveness with the aid of an operational expenses (OpEx) dashboard.

The system enables the CFO or their team to examine individual patient data and the resources utilized for their treatment. Once you’ve identified the objectives and goals of the dashboard, it’s time to outline the structure. Start by breaking down the dashboard into sections, such double entry: what it means in accounting and how it’s used as overviews, key financial KPIs, and comparisons. Determine which metrics need to be shown in each section and how they relate to one another.

1. Through personalized dashboards tailored to specific needs, stakeholders gain valuable insights into revenue streams, expense breakdowns, and overall financial health.
2. This data can be used to assess the potential revenue from each customer for the next year and devise a plan on how to improve business results.
3. This dashboard is built for the time-tracking tool Clockify and displays detailed information about billable hours/amounts.

Dashboards make it easier to work with data and analyze it as they present it in a visual format and offer various interactive elements. Let’s see an example demonstrating how you can analyze and interpret data to obtain actionable business insights. Other sections of the dashboard show you hours and amount to pay by project and billing status. Like the previous example, this free dashboard is built for QuickBooks in Looker Studio, and takes only a few minutes to set up.

Tableau on Tableau: Finance Analytics

See our step-by-step guide on how to import bookkeeping data into Wave here. Any connections between you, your bank accounts, and Wave are protected by top six tips about the home office deduction 256-bit SSL encryption. Get expert-built dashboards to address finance specific business needs with Accelerators on the Tableau Exchange.

How To Build The Best Financial Dashboard

With a Pro Plan subscription, you can connect your bank account with Wave and automatically import your transactions. It’s been one of the best decisions I’ve made when it comes to making sure my accounting is on point. Your dashboard can be made public or shared with other members of your organization.

Drill down into cash flow details

A financial dashboard can be created using various software and tools such as Microsoft Power BI, Tableau, Qlik Sense, and more. You will small business guide to building the balance sheet need to select the data sources you want to include in your dashboard and then configure the visualization of the dashboard. Once everything is set up, you can explore the data and gain insights from your dashboard. On our list of dashboard examples, we provided several automated dashboard templates, which you can use for free. With these templates, you can visualize your financial data in about 5 minutes.