Financial Dashboards: Have they fulfilled their promise?
Now that new corporate performance management practices are being taught at business schools around the world, various types of financial and operational dashboards, using different methods (technological or otherwise), have become increasingly widespread. +++
The Decimal Suite is the best investment an organization can make in terms of financial management
The Decimal Suite connects an organization’s operations with its financial data, making it the ideal method for producing relevant and accurate management information.
Whether you use it to produce financial information about operating costs or to accurately reconcile budgets with actual expenses, the Decimal Suite enables you to present this highly relevant information in a variety of flexible ways, all of which provide seamless integration with other business intelligence systems:
The sole objective of each of the above-mentioned forms is to help you effortlessly produce relevant information for yourself and for your organization.
Types of information managed and produced by the Decimal Suite
With the Decimal Suite, you are at the helm of your organization! You have a better grasp of your cost and revenue behaviour and will know how to directly impact your profit margin. The scripting features enable you to consider new opportunities for your organization and accurately assess how the different alternatives will impact your finances and operations.
Identifying and tracking key performance indicators is a success criterion for your organization: the Decimal Suite enables you to track financial indicators and some (though not all) of operational indicators.
The Decimal Suite's unique proposition
GLOBAL COST AND BUDGETING APPROACH
Decimal Suite has been based on process management. Early versions were mainly used as sequential transformation processes. Soon after, the Decimal Suite was developed to support the more traditional cost allocation models often used by service companies. Today, these service companies are increasingly adopting the concepts of operational companies who are more likely to optimize and relocate resources to struggling sectors, control operational constraints and bottlenecks, analyse cost structure and behaviour, etc, to keep businesses running and profitable.
COMPARISON OF COMPETING COST MODELS
The Decimal Suite follows a global cost and budgeting approach. The Suite's modules support the implementation of a complete cost and budget establishment system. Budgeting process results allow users to determine costs of products and services. Conversely, the design of a cost model is used as a foundation for designing the budgetary process. This unique global approach ensures two things; first, that sales objectives are based on an informed selection of products and services, second, that managers keep track of results and effectively catch and understand discrepancies in the budget.
The Collaborator module, is decentralized to allow managers of different executive groups to personally enter their budgetary data. It is built directly within the Modeler module, which analyses trends in company costs.
DEVELOPMENT OF STANDARD MODELS
This provides management with a global and detailed view of the affordability of each model's performance. Designed to modelize budgetary, actual, forecasted and hypothetical results such as acquisitions, relocalization, and other major decisions, the Decimal Suite consolidates and compares results and shares this business intelligence with a company's key players.
MAXIMUM SCALABILITY FOR PROJECTS
Ensuring effective benchmarking between operational entities (factories, departments, etc). At the same time, the managers of these entities may define data according to their operational realities directly within the global structure of the master template. This approach allows users to benefit completely from the thoroughness of a centralized system and the flexibility of a spreadsheet.
ACTIVITY-BASED MANAGEMENT PROCESS
The application services clients of all sizes. Whether it's for profit organization, a private or public company or a public organization (municipal, provincial or federal), the Decimal Suite clarifies the strategic decision-making process, allowing companies to reach corporate objectives. Regardless of the number of users or information required by management, the Decimal Suite offers a unique and scalable potential.
In any company in which individual entities can establish performance evaluation guidelines and consistent comparison criterions. Companies will see the success of the solutions implemented, as the strategic decisions taken will have measurable impact on the general performance of the company.
DECIMAL BI brochure