How Tableau can simplify the finance functions of your business?

  • 29 June 2020
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finance functions of business

Analytics has always been critical in helping us make decisions confidently and quickly. Especially in these times when it is extremely important to harness the power of data. Tableau allows us to step out of the way and look at data in exceptionally different ways. This holds specialty true for finance professionals who are either trapped in spreadsheets or heaps of paper. To break free all the finance experts from the vicious circle of manual processes and legacy software, we shall uncover a few amazing benefits of Tableau. 

Understand the important matrix 

Given the rapid pace of changes and criticality due to the Corona Virus pandemic, it can be harder to manage budgets, expenses and get a realistic picture. Tableau dashboards provide real-time results and enable the team to do spend analysis, evaluate current credit risk and easily spot opportunities. With these intuitive dashboards, the finance team supports decision making and understand the vitals of business to be future-ready. 

Detect Fraud and Audit Analysis 

Tableau software helps finance professionals to flag suspicious activity, identify any malicious activity and alert their management before it’s too late. With a robust BI solution, the finance team can perform ad hoc analyses in just a few clicks. The software empowers the team to share their metrics with the management and save their business from risk factors and fraud schemes. 

Explore revenue models with Pricing Analytics

It is now easier to gain a deeper understanding of your business’s finances health, including their forecast performance, pricing trends, and profit margins. The dashboards help you to analyze selling price by product, forecast GAAP revenue with customers weighing and understand large volumes of data on the move. 

Uncovering key details in Cash flow 

Tableau software makes it Incredibly easy for finance professionals to analyze cash flows, examine their current investment position, and understand the matrix of risks. The software gives a cumulative forecast and brings together data from bank accounts, accounts payable, receivable, investment portals and more. This helps to get unprecedented insights and know the exact status of cash flow. 

Delivers real-time insights

Finance departments working in silos is a thing of the past. Tableau addresses today’s business needs of finance functions to automate routine transactions and deliver real-time insight to CFOs and senior finance leaders. The software helps in in budget forecasting, enables more precise audits, shortens invoice cycles, helps with tax laws and regulations without compromising on speed, accuracy, and performance. 

When you invest in Tableau software, it becomes easier to optimize a host of financial activities, perform spend analysis, cost-cutting analysis, improve the speed and accuracy of year-end closing and conduct real-time cash flow analysis. Tableau assists decision-makers and all finance leaders to gain vital pieces of information. With its self-service capability, everyone can be on the same page and gain meaningful insights with a bird’s eye view. Tableau is certainly simplifying the lives of finance professionals in a better way

Let Uneecops be your partner of choice for Tableau implementation and help you play the role of strategic thinkers.

Nidhi Batra

About the author

Nidhi Batra is a marketing and brand communication professional with 10 years of experience working in the dynamic B2B marketing environment. She strategizes, writes, reviews a variety of content for demand generation and sales support activities. Having a Master’s in English from Delhi University, she knows how to navigate her readers on insightful journeys with her SAP published blogs and thought leadership content.