financial reporting

Business Case

The client realized the need for a more consistent and efficient financial reporting process in order to provide greater visibility into the financial position for management across their properties and funds.

Key areas included:

• Custom Drilldown Financial Reports
• Reforecasting expenses and revenue per property/fund
• Tracking tenant and building job costs
• Budgeted vs. Actual tenant revenue reporting

solution

A web based Financial Reporting application was developed. The system integrates with the client’s back end accounting solution, as well as their custom built Budgeting System. This integration facilitates a near real-time pull through of accurate budget and actual expenditure for reporting purposes.

The custom financial reports provide an up-to-date summary of the company’s financial position and cash flow that can be modified on the fly, to report at the level the user requires.

The Custom reforecast reports allow for adjustments to be made easily and quickly in accordance with the approved business process. This level of automation has greatly reduced the time required to handle the previously time consuming monthly and quarterly reforecasting.

Benefits

• Centralized reports in a standard format
• Greater visibility into the company’s financial position
• Accurate budget and actual information allowing for better variance monitoring
• Process standardization across multiple properties and regions
• Historic reporting
• User access control