Complete guide to making faster, better decisions with Solver

The speed of making decisions matters. Small delays compound and cost money. The right decision at the right time can be a game changer for an organisation, so the pressure for CFOs and Financial Managers to make that decision quickly is immense. In this article, we outline how Solver is the key to making better decisions faster.

Without the right data analytics tools, the process of collating data from various sources is labour-intensive and risks inaccuracies. With Solver, all the necessary information is consolidated in a single cloud-based solution, providing on-demand accessibility in customisable formats.

 

Four Essentials to Support Better Decisions

1. Solver & Power BI Reporting

Solver’s data warehouse provides a single location from which you can access all your critical information, which is time efficient and supports collaboration. You can use Solver’s cloud-connected Excel add-in and benefit from the familiar Excel interface of Excel for report design, then use any web browser for running and viewing reports.

Alternatively, you can use Power BI’s built-in Solver connector to bring Solver’s data models and measures into Power BI so you can access all the amazing presentation and drill-down interactivity this program provides.

 

Benefits of Solver’s Central Data Warehouse for Reporting

  1. The Data Warehouse allows for reporting based on multiple data sources provided by different users
  2. Reporting on General Ledger (GL), sub-ledgers, as well as other data sources and handle special needs such as allocations and reconciliations 
  3. Optional reporting live on ERP databases
  4. Ad-hoc reporting for quick answers
  5. Report individual entities (cost centres, companies, divisions etc) or an entire consolidated entity
  6. Automatic currency conversions

 

Key Benefits of Solver’s Report Designer:

  1. A single report designer with easy drop and drag elements and pre-built formulas. No need for manual exports to Excel for formatting, printing, etc.
  2. Excel report designer interface provides familiarity and reduces time spent on upskilling
  3. Ability to archive reports i.e. store copies of reports with the data they contained when the report was run.
  4. Ability to schedule reports to run and be distributed to multiple recipients regularly.

 

Key Benefits of Using Power BI for Solver Reporting

  1. Produce beautiful, flexible, interactive reports that users are familiar with
  2. Utilise existing Power BI skillets and allow users to produce their own reports
  3. Access all Power BI’s interactivity features for powerful filtering and drill-down
  4. Integrates with Microsoft PowerPoint

 

Solver Reporting is a report writer, report viewer and report analysis solution for any data in your Solver Data Warehouse. With these extensive reporting capabilities, better faster decisions are at your fingertips.

 

2. Solver Planning

Solver Planning streamlines budgeting, forecasting, planning and modelling efficient access to meaningful data for making critical decisions. All important data and planning processes are managed in one platform, making Solver stand out from other cloud-based financial products. Their modern, user-friendly solution is designed for anything from simple to highly complex input forms and has a Web Portal that includes key features such as end-user data entry, workflow and reporting. 

 

Solver Planning can be used for the following:

  1. Multiple different workbooks, each with a single budget form.
  2. Single workbook with multiple budget forms with the same layout.
  3. Multiple similar workbooks with multiple different budget forms in each workbook.

 

Solver Planning can also be used as a collection tool:

  1. Modelling
  2. Break-back analysis
  3. Allocations
  1. Electronic data entry of: 
    1. Statistics
    2. Key Performance Indicators (KPIs)  
    3. Other organisational information
  2. Commentary input for: 
    1. Monthly actual/budget variance reports 
    2. Scorecard KPIs 
    3. Quarterly/Annual reports 

 

With Solver’s planning and analysis tools, you can plan and prepare for any possibility at the click of a button, allowing the focus to be on business development and growth. 

 

3. Solver Data Warehouse

Consolidate all the data needed for reporting, dashboards and planning in one place. Together with the Web Portal, Reporting and Planning, the Data Warehouse enables access to immediate reporting capabilities as well as fully customisable budgeting, forecasting and data entry features. 

Using simple actions, the Solver Data Warehouse provides easy import and export options from multiple data sources. Pre-configured modules make reporting and analysis straightforward. 

 

Solver Data Warehouse features include:

  1. Intuitive interface with easy configuration, including pre-configured modules
  2. Microsoft SQL Server/SQL Azure based
  3. Automated data loading with Solver’s ETL tool
  4. Combine financial and operational data
  5. Unlimited trees in any dimension
  6. Easily add modules and dimension

 

The significance of having easy access to accurate and relevant data cannot be overstated when making informed decisions swiftly; Solver Data Warehouse is that solution.

 

In an environment, where every moment counts, the capability to access crucial financial insights promptly allows leaders to drive their organisation towards sustainable growth and financial resilience. The Solver Suite delivers the right data in the right format and at the right time so CFOs and Financial Managers are empowered to make better decisions faster. 

If you’re ready to find out how Solver can empower you to make better decisions, book a call with Jeff to discuss your needs.