Benefits of INFOFISCUS Integrating with Snowflake for the Organizations

INFOFISCUS Integration with Snowflake

These days, organizations are swimming in an ocean of data — and it’s become more evident that finance and supply chain data make up a big part of that sea. Data merits everything in the cutting-edge business world, yet large amounts of data basically can’t be handled by a human brain. We want AI/ML to help us understand and deal with it. INFOFISCUS Finance Analytics reduced manual efforts and helped finance close the books on time, provide better visibility, and much more. It has engaged businesses to form better client connections by offering pre-built dashboards and scoreboards at a greater scale and better competing in the marketplace with offerings precisely targeted to client needs.

Like many other executives today, CFOs and finance officers are trying to settle on data-driven choices to guide their organizations. These finance leaders depend on INFOFISCUS Finance Analytics for its wide range of analytics and reports, including CapEx, OpEx, Balance Sheet, Profit & Loss, Profitability, Fixed Assets, Cash flow, Gross Margin, and Revenue. The organizations can wrangle multiple data sources and ensure they can access high-quality, trusted data for business direction by implementing INFOFISCUS Finance Analytics integrating with the modern Data Cloud platform like Snowflake. The INFOFISCUS Finance Analytics integrating with the Snowflake platform leverage high-performing Cloud Computing, Autoscaling, Dynamic Data Masking, Object Tagging, etc., making it robust & secure. It helps your finance leaders to get the data they need to settle on better business choices.

What is Finance Analytics Solution?

Infometry’s finance analytics solution– INFOFISCUS, assists organizations in delivering versatile finance dashboards, scorecards, and advanced analytics collecting data from On-prem or cloud, ERP, CRM & planning applications  —designed to help C-level Executives, Controllers, Analysts, and Accounting Teams. Proven finance data model, metadata layer, and data integration layer permit organizations to customize, maintain, configure and deploy without having in-depth knowledge of application APIs and data model.

INFOFISCUS solution is based on robust cloud data integration platforms utilizing Informatica IICS and powerful visualization engines like Tableau, Power BI, and Looker. Close to real-time data invigorate accomplished using NetSuite ODBC connector from Informatica Cloud (IICS) platform and across multiple visualization platforms for the representation. Finance Data Model can also be deployed on any cloud data warehouses like Snowflake, Redshift, Azure SQL, etc.

INFOFISCUS Finance Analytics Features

• Pre-Built Finance data Mart and Analytics with integration to ERP and CRM systems.
• Pre-assembled dashboards and scorecards.
• Supports Bring Your License (BYOL) model.
• Integrates to any On-prem/Cloud Apps.
• Rich libraries of pre-characterized KPIs and layouts, including CapEx, Opex, GL, AR, AP, and Cash conversion cycle.
• Analyzed Revenue, Profitability, Cash flow, Expenses, AR, AP, etc.

Financial Planning & Analysis Challenges for Organizations

Financial Planning and Analysis are progressively critical as the business model changes based on seasonality, economic trends, and customer demographics. One of the fundamental challenges is that the finance teams process data mainly in excel, resulting in multiple versions of truth and inconsistency in definition and deviation of critical metrics within the organization. Organizations understand the vast potential of INFOFISCUS Finance Analytics, considering its simplicity and robustness. Rather than thinking of FP&A as a financial support function for reporting, organizations are adopting INFOFISCUS so that the finance team can focus on more decision-making activities than number crunching.

Some of the FP&A Reporting Challenges Include

A Lack of Accurate Data and Insights

One of the most widely recognized issues facing CFOs and finance teams is low-quality data and the inability to access critical datasets to produce valuable insights.

This is often because when spreadsheets are edited, updated, and circulated over time, various versions exist, mistakes are made, and the information becomes less reliable.

Manual Tasks Take Too Much Time

Finance experts invest much energy in manual tasks like account reconciliation and financial close. Many finance departments still struggle with cutting down their cycle time to half what they are used to. However, finance teams invest most of their time in arranging and organizing information instead of analyzing it.

Juggling Various Forecast and Planning Methodologies

As organizations understand the capability of finance planning and analysis, they’ve started understanding the implementation of various planning strategies with unique horizons, including Fiscal Year Budgeting, Forecasting, or embracing Rolling Forecasts and Scenario Analysis. On top of that, numerous associations utilize a combination of top-down and bottom-up planning to drive optimal outcomes.

Disconnected Data Systems and Processes

A study showed that more than 3/4 (77%) of planning processes rely on having access to accurate and ideal data from divisions across the association.

Regarding Finance planning and analysis, this data is essential for financial teams to make accurate spending plans, align KPIs, dissect results, and set financial objectives.

Thus, disconnected frameworks and cycles can be a real issue for CFOs. It is much harder to gather, examine, and share precise, convenient data from various departments.

How Snowflake Enables Companies to Harness the Benefits of INFOFISCUS Finance Analytics?

Snowflake enables seamless data aggregation and eliminates data silos so you can access all your data in a single, worldwide accessible platform. It permits you to share live data safely and represent it from different on-premises and cloud-based frameworks across lines of business and auxiliaries.

INFOFISCUS Finance Analytics solution isn’t simply intended to gather data. Its primary purpose is to assist you in managing the data you accumulate and have a few significant conclusions. With advances in cloud data integration platforms, Snowflake provides benefits that include integrated automatic query performance, schema management, improved scalability, and enhanced data security. The platform can also pause clusters when not running queries, potentially saving you money. Ultimately, INFOFISCUS with Snowflake will centralize the data in your organization, allowing you to identify patterns and trends in business-critical information and improve decision-making.

Four Key Benefits of a Pre-Built Finance Data Cloud Are

Elasticity and Agility

With a pre-built finance data cloud, your finance will approach industry-standard KPIs and have the option to convey trusted metrics for changing business needs rapidly. The solution should incorporate standard modules and money KPIs, including income, fixed resources, OpEx, CapEx, liquidity analysis, profitability analysis, and more across various elements or auxiliaries.

360-degree View

Everybody is on the same page with a coordinated network between lines of business solutions throughout the entire association. Gain a 360-degree view of your financial data to pursue all-encompassing choices for your business needs. This also breaks down silos by coordinating recently disconnected data.

Cost Reduction

With pre-built dashboards, scoreboards, and automation, you invest less energy on administrative errands and additional time closing deals. You can automate your advertising activities to make customized marketing campaigns with advanced analytics solutions. Utilizing more automation reduces the expense of chasing down leads and carries them to you using AI/ML.

Governance & Risk

Governance and security should be applied across all parts of the solution. It provides access to sensitive data with proper controls and delivery systems. Find and survey financial risk for clients’ businesses and build a mitigation plan. It supports a future-proof client’s business by creating compact artifacts.

 

Adopt This New Strategy to a Finance Data Cloud

All in all, Infometry is glad to declare INFOFISCUS Integrating with Snowflake, which is a 100% Cloud-based pre-built Finance Analytics solution created utilizing open architecture. It uses the latest advances like Informatica (or Matillion) to extract data into Data Cloud Platform Snowflake. Industry-standard visualization tools like Tableau Online, Looker, and Power BI. Clients can use profoundly configurable ETL mappings to release information from ERP frameworks like NetSuite, Microsoft Dynamics, Oracle Fusion, SAP, etc., to a pre-packed finance Data Warehouse on Snowflake Data Cloud. Clients can then pick the preferred cloud visualization analytics platform of their choice, such as Looker, Tableau Online, or Microsoft Power BI, to deploy finance dashboards. Additionally, INFOFISCUS is now available on Informatica Marketplace to use & implement for your industries.