If you are using spreadsheets, the process is also prone to errors which can be carried forward into innumerable secondary spreadsheets and other reports. Before you know it, decisions have been taken by the board based on figures that may be inaccurate – and by the time the mistake has been spotted it’s too late to rescue the situation. It has been estimated that up to 50% of spreadsheets used in organisations contain material defects. For further information on this you can read research carried out by Powell, Baker and Lawson of Dartmouth College, USA: Errors in Operational Spreadsheets
Eradicate Errors from Compiling Spreadsheets
Diver takes away the pain of manually compiling your financial reports and helps you avoid making disastrous errors that could have a negative impact on your business. Diver takes data direct from your Finance system, like Sage, or your ERP system, and automatically builds Finance models on a daily basis.
From these models, your standard P&L, balance sheet, cash flow and Finance dashboards will be refreshed every day without any manual intervention – and can even be updated in real time. The view you present will be accurate and immediate – so you can spend more time analysing and acting on the reports, instead of compiling them. Give your management team the confidence to take decisions based on accurate information, and a daily snapshot of where the company stands even when you are on holiday!
Consolidate and Filter your Finance Insights
You can view all of your reports by period comparisons and look in detail at GL Accounts, filtering by Cost centre, Department, Depot, Branch, Division, or whatever set-up your organisation has. You can even automatically consolidate any number of Finance databases across multiple sites – collecting the data nightly to view the status of the whole business the next day, retaining the ability to view each site individually also.
What-if? Insights for Finance
Wouldn’t it be useful during those meetings with colleagues if you could play around with some “what-ifs”? For example, changes in expected income or expenditure, projecting the effects on the bottom line and at the same time comparing with last year’s actuals? With accurate data providing the base level, the effects of making changes will be more reliable as a basis for decision-making.