Reporting capabilities of budgeting software
Perhaps the most powerful aspect of budgeting and planning software
is their reporting capabilities, because ultimately the purpose of these
systems is to spend less time creating the budget and more time analyzing
and fine-tuning performance. Most systems allow not just the essential financial
reporting, including income statement, balance sheet and statement of cash flow,
but extensive custom reporting. These custom reports let executives and managers
look at their business from every angle, drilling down to the detail behind the
bottom line and enabling better-informed decisions. The most flexible packages
allow custom reports to be built on the fly and generated instantly with just a
few mouse clicks, enabling immediate comparisons between departments, locations,
time periods and other parameters. With other packages, internal or vendor
programmers may be needed to create the desired reports.
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