{"id":1092,"date":"2017-07-25T18:58:38","date_gmt":"2017-07-25T18:58:38","guid":{"rendered":"https:\/\/www.aiminsight.com\/?p=1092"},"modified":"2021-02-17T12:56:31","modified_gmt":"2021-02-17T20:56:31","slug":"difficulty-sharing-financial-data-internally-externally","status":"publish","type":"post","link":"https:\/\/www.aiminsight.com\/blog\/uncategorized\/difficulty-sharing-financial-data-internally-externally\/","title":{"rendered":"Difficulty Sharing Financial Data (Internally and Externally)"},"content":{"rendered":"<ul>\n<li>You are not able to combine and analyze data from different dimensions.<\/li>\n<li>This restricts your analysis capabilities.<\/li>\n<li>Unknown impact.<\/li>\n<li>You spend a lot of time manually consolidating information, or performing analysis or processing reports.<\/li>\n<li>It takes much time.<\/li>\n<li>It takes too long to close the reporting cycle.<\/li>\n<li>It takes long.<\/li>\n<li>You are reporting or querying on dated information.<\/li>\n<li>It is because there is no way for accounting to monitor the reporting process.<\/li>\n<li>Or communicate with the sub sites about reporting deadlines.<\/li>\n<li>After your data has been entered in your GL, you need t manually map your GL structure to the one used in the Corporate reporting model.<\/li>\n<li>It takes much time.<\/li>\n<li>There are errors.<\/li>\n<li>Once the mapping is complete, you have to manually re-enter data from your GL.<\/li>\n<li>You have to manually re-enter data from your remote sites into your corporate reporting model.<\/li>\n<li>Users from remote sites re-enter data from local systems.<\/li>\n<li>It takes long.<\/li>\n<li>There are errors.<\/li>\n<li>The impact of inconsistent data has been unknown.<\/li>\n<li>It is difficult for you to maintain an updated reporting model.<\/li>\n<li>Unknown how you make changes to the model.<\/li>\n<li>Add a new reporting unit.<\/li>\n<li>Change a formula.<\/li>\n<li>You have to manually make those changes everywhere in the model.<\/li>\n<li>It takes much time.<\/li>\n<li>There are errors.<\/li>\n<li>Unknown how you communicate changes in the reporting model to all reporting sites.<\/li>\n<li>When you receive data from lower level reporting sites, how do you upload them to the main site.<\/li>\n<li>How do you distribute reports to different reporting sites.<\/li>\n<li>It is a manual process.<\/li>\n<li>It takes long.<\/li>\n<li>Everyone doesn\u2019t get the reports needed on time.<\/li>\n<li>Unknown impact.<\/li>\n<li>Local sites need to maintain an additional reporting model for their local reporting.<\/li>\n<li>You require maintenance of chart of accounts and reports different to the ones for corporate reporting.<\/li>\n<li>You often need to change your reporting model such as reporting structures.<\/li>\n<li>You need to consolidate and\/or eliminate according to different structures.<\/li>\n<li>It takes much time.<\/li>\n<li>They are made incorrectly.<\/li>\n<li>They are not made in a timely manner.<\/li>\n<li>Consequence has been unknown.<\/li>\n<li>Financial statements have been late.<\/li>\n<li>Inaccurate<\/li>\n<li>You have difficulty reporting in multiple currencies.<\/li>\n<li>You need to present group reports in multiple currencies.<\/li>\n<li>It is difficult to maintain all the comprehensive formulas.<\/li>\n<li>It takes much time.<\/li>\n<li>You need to create different reports for each currency.<\/li>\n<li>You are not able to combine data from disparate locations into one database.<\/li>\n<li>You need to transfer data before you can manually consolidate the data.<\/li>\n<li>It takes much time.<\/li>\n<li>It restricts the type of consolidation you do.<\/li>\n<li>All your intra-group transactions need to be manually excluded when you present group results.<\/li>\n<li>It is complex.<\/li>\n<li>Time consuming.<\/li>\n<li>It takes time.<\/li>\n<li>It slows down the closing process.<\/li>\n<li>All your consolidation methods have to be calculated manually.<\/li>\n<li>It is time consuming to change between different methods.<\/li>\n<li>Processing reports slows down the entire system.<\/li>\n<li>Personal workstations are impacted.<\/li>\n<li>It wastes lots of time.<\/li>\n<li>Impact productivity.<\/li>\n<li>You spend a lot of time distributing reports once the process is complete.<\/li>\n<li>It is difficult getting graphical representation of your consolidated data.<\/li>\n<li>You need to manually re-enter the data.<\/li>\n<li>Manually create graphical views.<\/li>\n<li>It takes time.<\/li>\n<li>It does not look professional.<\/li>\n<li>Your users require reports with graphs often, etc.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>You are not able to combine and analyze data from different dimensions. This restricts your analysis capabilities. Unknown impact. You spend a lot of time manually consolidating information, or performing analysis or processing reports. It takes much time&#8230;. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1092","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1092","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/comments?post=1092"}],"version-history":[{"count":3,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1092\/revisions"}],"predecessor-version":[{"id":1778,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1092\/revisions\/1778"}],"wp:attachment":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/media?parent=1092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/categories?post=1092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/tags?post=1092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}