5 reasons why companies choose BrightAnalytics

5 reasons why companies choose BrightAnalytics for their management reporting

1. Move beyond Excel

We all know that Excel is a great tool because of its flexibility when it comes to quick calculations. However, it is not built for management reporting. When the complexity of your organization increases or manual work becomes too much, you quickly run into the limits of Excel.

After all, it’s error-prone, version control becomes difficult (remember that file called “report_v7_Final_v2”), only one person can access the file at a given time, and you need a bunch of Excel wizards to maintain the file.

BrightAnalytics believes that the future of reporting and consolidation (and yes, even budgeting) can be done in a world without Excel. In the cloud-based BrightAnalytics platform, you can consult your figures and dashboards in the views that you want – any place, any time. You can slice and dice the data to any dimension you would like to focus on. You can drill down to the lowest level of detail and even access your digital invoices.

2. An intuitive and user-friendly interface

The feedback we receive from our wide customer base is that our tool is easy to use, for users with both a financial and a non-financial background. With only half a day’s training you can start using the platform.

Making changes to the structure, mappings, dashboards, user access, etc. is easy. We put the keys in your hands, as opposed to the classic BI-tools where any changes have to be made by an internal or external specialist.

Don’t be fooled, a user-friendly product does not equate with simple. The BrightAnalytics tool has been developed over the years to automate complex issues in just a few clicks.

BrightAnalytics allows you to ‘slice and dice’ zoom in on booking details and scanned invoices. When IC eliminations are not at zero, we offer an intercompany matching tool, where you can identify missing entries within seconds. The days of spending hours looking for errors in your accounting package are a thing of the past with BrightAnalytics.

3. 280 + integrations

BrightAnalytics ensures that the data in the platform is always 100% compatible with the source system (accounting, ERP or CRM package). This is done through a built-in health check, which ensures that there are no discrepancies between what is reported and what has been achieved. For example, if you create a new general ledger account in your software package, you will receive an email notification that it needs to be mapped to the correct P&L structure.

Did we mention that we connect to every system (both cloud-based and local)? At the moment, more than 280 integrations are available. If your software package is not on that list, we pride ourselves on being able to create the connector within days – that is exactly what we do.

BrightAnalytics synchronizes the data between your source system and the platform every night, so you will always have the latest available data in front of you. In closing periods, you may even want to do this several times a day to check the final result based on the last bookings. Just hit “refresh”.

4. Consolidation

With Brightanalytics, consolidated reporting becomes a piece of cake. With the click of a button, IC transactions are eliminated, consolidation entries can be made and participations can be eliminated.  Specially designed to optimise your financial management and simplify consolidation processes, BrightAnalytics is adaptable, reliable, and versatile.

Enable multiple consolidation circles for diverse reporting needs, performing multi-GAAP and IFRS adjustments for comprehensive financial reporting, and customise consolidation intervals, whether yearly, quarterly, monthly, YTD, or other. Utilise consolidation entries across multiple circles effortlessly. Additionally, health checks allow you to monitor and manage changes effectively, ensuring data reliability.

5. Create different analytical dimensions like cost centers