FIN.by flagship products are, undoubtedly, complex IFRS and management reporting systems. Their scale allows management to see the full picture of the business as a whole. Everyday transaction recording, with very rare exceptions, is well automated with the use of market-known software packages and is rather effective. However, the reality is that still numerous reporting, and similar, tasks are performed by the finance function of a company beyond the frames of these information systems – and often less effectively than would be desired.
Our experience shows that application of the best MS Excel practices to this area can well result in noticeable cost savings together with the same, if not improved, accuracy and reliability.
- Automated preparation of statutory accounts, tax returns and statistical reports. Transaction recording systems very often lack the functional modules practically capable of preparing such reports. Yet another problem arises when the configuration of these systems was designed ignoring, for any reason, some analytical dimensions required to produce such reports automatically within the system. Developing tailor-made MS Excel tools adapted to the client’s information systems has proved an effective solution of this problem.
- Optimization of individual transformation adjustments calculation. Many companies have their own IFRS or management reporting systems in place. However, results of the in-house development are sometimes prone to annoying shortcomings, e.g. too time-consuming, producing unacceptable errors or not accurate enough. We can overhaul such problematic areas and refit the result back into a client’s system seamlessly.
- Automation of selected operating tasks. Undoubtedly, is advisable that as many routine tasks be automated within the specialized ERP systems. But even here cost-benefit considerations might persuade a client to step into the way of MS Excel based solutions, often enforced with appropriate VBA macros.