Organizations also draw value from their financial information, in part, by using it to generate reports. The better the reporting application and the larger the data store, the greater the value decision-makers can pull from the data. Reporting underscores the need to break down application and data silos and to deploy an integrated financial management solution that unifies information storage within a central relational database.

A reporting solution should provide the basic recurring reports such as inventory levels, monthly sales activity, and profit and loss statements, as well as support the ability to customize existing reports and create entirely new ones to better share relevant data across teams, product groups, and other entities. Creation of new reports should be supported with customizable templates or with report-making wizards.

Financial information should be easily exportable to productivity tools such as Excel and Word to simplify the use of data in spreadsheets, documents, and presentations. Organizations need to be able to share the information on the Web or from their intranet, giving security-enhanced access to the right information from any location.

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Financial Management