Management control and comparison of the performance of several companies operating in different countries.
Back-office client: Since 2015, we have been providing accounting services in Poland for a company engaged in cultivation and sales related to forestry. From the very beginning of the cooperation, the management placed great emphasis on a reporting system for their management control of the company and to compare the performance of companies from different countries within Europe.
Sector: Forestry
Competences used in the project: Power BI, Dynamics NAV, getsix® Customer Extranet
Business need: Management accounting to control and compare the performance of a Polish company with other companies in the group.
Solutions developed: As part of the project, we implemented an online reporting system that takes current data from the accounting system and, using the Power BI service, generates reports according to guidelines and in a format convenient for the client. The new reporting system replaced an old spreadsheet, which was sent out once a month and required additional steps for a complete analysis of costs, revenues, assets and liabilities.
The Power BI service features allow:
- Choice of reporting language German, English or Polish also translating the names of accounting accounts;
- Clear information on the date of the last modification of accounting data and the date of data update;
- Data export according to criteria selected by the counterparty, such as account category, type of general ledger account, and to view detailed entries on a given account, including seeing the counterparty generating costs or revenues on a given accounting account
- A visual representation of the amount of income or loss in each account;
- Easy export to a format of your choice for further transmission to other company units of the company.
Customer benefits:
The automation of online reporting significantly increased reporting efficiency, eliminating the need for manual tasks. With Power BI, it is possible to obtain quick access to up-to-date data, thereby enabling real-time monitoring of financial results. Detailed reports support the analysis of costs, revenues, assets, and liabilities, which greatly improves management control. The new system also allows for the comparison of the Polish company's results with other companies in Europe, which is crucial for the firm's strategy. Reports can be generated in German, English, or Polish, enhancing their accessibility and usability. A feature that includes the dates of modifications and updates to accounting data was also introduced, to ensure transparency of information. In addition, there is the capability for detailed analysis and export of data according to selected criteria, and the reports visually present the revenues and losses on individual accounts, which makes interpretation easier.