Cloud accounting and business management developer Intacct has announced the launch of Performance Cards, new dashboard visualizations that provide users with at-a-glance views into critical performance trends. Built directly into the Intacct financial management system, Performance Cards are easy to create, require no custom code development or additional software, and leverage Intacct’s dimensional general ledger to provide a broad range of financial and operational insights for improved decision making.
In today’s connected economy, businesses are becoming more complex at much earlier stages in their growth. In the mid-market, where companies must leverage agility to compete with larger competitors, there is an urgency to cut through mountains of financial and operational data to understand the real-time performance of their business and surface insights that can sustain and accelerate growth.
“Performance Cards represent the latest in a series of innovations built on top of our multi-dimensional general ledger, with each successive innovation making it easier and easier for customers to get the financial and business insights needed to accelerate the growth of their business,” said Vijay Ramakrishnan, senior director of Product Marketing at Intacct. “Our new Performance Cards deliver the fastest business insights from any mid-market financial management system. And unlike other systems that require additional expensive software or complex customizations, which then need to be maintained, Intacct delivers these insights in an easy-to-build, maintenance free format right from within the core financial system.”
To get these actionable insights, companies have traditionally been forced to purchase additional reporting and analysis tools that sit outside the core financial system. In a recent survey conducted with finance executives at small and medium sized businesses, Intacct found that nearly 90 percent of companies were using additional tools (reporting software, data warehousing, etc.) outside the financial system to get the business insights they need. This introduces added complexity and rarely provides access to real-time data. Furthermore, only 22 percent of survey respondents strongly agreed that their current financial system provided the data visualizations they required.
“Business decision makers want access to actionable information, as fast as possible,” noted Jeffrey M. Kaplan, founder and managing director of THINKstrategies, an independent technology consulting firm. “Intacct’s new Performance Cards enable corporate executives and others to more successfully monitor key financial, performance, and other business metrics, at a glance. This allows them to quickly identify issues and rectify potential problems, as well as capitalize on opportunities and accelerate growth.”
Introducing a New Way to Monitor Business Performance
The launch of Performance Cards from Intacct delivers the fastest possible business and financial insights to managers throughout an organization. The cards deliver details on key business metrics using a visually compelling layout to make trends readily understandable at a glance. Since they are native to the Intacct financial management system, they tap into data at the source and provide users with information that is always real time. This ensures everyone is informed to make decisions based on the most up-to-date information.
Performance Cards provide insights beyond just standard GAAP-based financial performance, but also insights into broader business performance. Using Intacct’s unique multi-dimensional General Ledger, where companies can tag every transaction, operational measure, and budget entry with a dimension value that captures business context, Performance Cards are built to visualize trends in performance by key business drivers. Users can now easily highlight trends in operational measures and ratios based on financial and non-financial data, broadening visibility to all the metrics that shape company performance.
Performance Cards are designed to deliver insights to not just executives, but also to stakeholders throughout the organization – making the whole organization more agile in driving growth and improving performance. The cards are easy to create using a point-and-click interface, so finance managers and business users alike can create cards to empower individuals across the organization so they can be a high performance oriented company. This helps users to monitor all levels of KPIs, from short and medium-term programs or initiatives important to their area of responsibility to strategic KPI monitoring their aspect of the business.