Challenges in financial reporting in the banking industry continue to grow. Lack of transparency in the reporting process, rising costs, decreased productivity, diminished effectiveness and inconsistent accuracy. Sound familiar? But it is not for lack of trying. A 2012 study by Oracle and Accenture reported that 82% of surveyed companies, including banks have made substantial changes in the last three years to the close, reporting, and ﬁling processes, however their solutions have not measured up.
For example, a typical year-end review for a manager is based on 7 to 10 factors such as loan and deposit production, loan and deposit retention, branch profitability, efficiency ratio, etc. Much of this data is tracked on several different reports and needs to be compared to trend, corporate targets, individual targets. This information is not readily available yet year-end goals, bonuses, incentives are all based on these criteria.
In the pursuit of increased productivity and simplified processes, too often banks end up with several accounting software tools, none of which work together for a holistic financial reporting solution. Redundancies in banking financial reporting work flow are increased, and delays expand exponentially.
Spreadsheet Server changes all of that for banking users. The platform provides a complete solution to your banking reporting challenges, easily and quickly improving all of your reporting processes within the banking industry, including forecasting, financial consolidation and reporting, as well as budgeting and planning. Spreadsheet Server allows banks to connect data in disparate sources, such as loans, deposits, credit cards, money market accounts, and bring them all into one central live, secure, Excel-based format. This allows the banking organization to have more time to analyze data and make actionable decisions.
Spreadsheet Server provides you with the tools you need to do your job better, faster and with total accuracy. You need:
Our customers consistently find that Spreadsheet Server automates their banking reports, KPIs, and benchmarks and revolutionizes the way they do business, resulting in an increase in performance.
Learn more about how others have leveraged Spreadsheet Server to optimize their banking reporting environment.