FinReCo

20 years of our experience across companies in one unique solution – a data warehouse for unified management reporting. Move from Excel to a fully automated solution.

The tool we developed will support you in management and analysis, mergers and acquisitions, introduce standards into your organization’s controlling and management, and make key KPIs available anytime and anywhere.

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When to choose FinReCo?

FinReCo is a pre-built data warehouse with a reporting superstructure for the finance area, which is primarily suitable for medium and large corporations that consolidate managerial and/or statutory finance.

The company is growing fast

You have multiple data sources (ERP systems, budget tools, data warehouses, etc.).

Merger or acquisition coming up

You are facing a merger or acquisition of companies. And you are dealing with intercompany transactions with different source systems.

P&L and KPI under control

You need to have confidence in the numbers over time and a consistent view of key financial and non-financial indicators (P&L, KPIs).

Monthly financial statements

It is important for you to be in control of the monthly closing process.

Important business decisions

You need to know precisely which products or services are profitable for you and which are loss-making.

Contolling

You are overwhelmed by a large number of spreadsheets and excels.

Done in 3 months

In just 3 months from the start of the project you will have automated and standardized reporting.

Predefined framework

FinReCo includes preconfigured scenarios for more efficient real-time data processing even without otherwise required technical expertise.

Minutes instead of days

FinReCo speeds up regular monthly reporting from days to hours, sometimes even minutes.

Management reporting

… is maximally connected to the company’s strategy and other management processes. It provides management important information for decision-making.

Management reporting may look slightly different in each company, depending on the industry in which it operates and on its priorities. It primarily monitors:

  • development of the company’s profitability – development of gross margin and its coverage of operating costs and other expenses (taxes, depreciation, etc.),
  • profitability forecasting – expected sales performance, variable and fixed costs, assumptions for the future profitability of the company,
  • cash flow forecasting – monitoring the cash reserves for future investments and other expenses,
  • meeting business objectives – setting measurable targets.

FInReCo: a tool for automating financial reporting

FinReCo is a pre-built data warehouse with a reporting superstructure for the finance area, which is primarily suitable for medium and large corporations that consolidate managerial and/or statutory finance.

It includes a financial module that not only provides all the functionality required for management reporting including allocations, but also support for statutory reporting including financial consolidation. And it enables transparent and fast automated financial reporting running at regular intervals (monthly, quarterly, annual reports) and on an ad hoc basis.

FinReCo also automatically ensures that the numbers in the reports do not change history and that changes are not rolled over to previously closed reporting periods. Once evaluated, KPIs remain unchanged. In addition to management reporting, you also get an independent, fully automated management scorecard.

  • Online at any time of the day or night, your management always has up-to-date financial numbers for strategic decision-making.
  • Unified data – 3 different controllers receive 3 identical results for 3 queries on the income statement.
  • From 3 weeks to 3 days, you reduce the preparation of the final management income statement including data collection.
  • The logic of your business will move into reporting and will no longer be in the heads and excels of your controllers, whose absence or departure will not jeopardize your business.
  • Your controllers will start to support and analyze the business instead of the unpopular collecting and linking of excel sheets.

5 basic principles of FinReCo

Data module for finances

  • Ready module for reporting
  • Out of the box YTD/CB values
  • All scenarios (Act, Bgt, Fcst)
  • Comparatives
  • Financial statements

Reporting & analysis

  • Fast aggregation
  • Dimensions and hierarchies
  • Self-service reporting
  • Single source for reporting/analysis
  • No technology knowledge required

Business Workflow

  • Reporting period management
  • Submission workflow
  • Robust data intake tool
  • User activity overview & audit
  • Customization of the tool for business users

Data process management

  • Reporting guidelines
  • Unified process
  • Master data management (MDM)
  • Business Glossary
  • Business validation definition

Integration & automatization

  • Business rules and validation
  • Predefined integration formulas
  • Audit trails and logs
  • Robust monitoring
  • Rapid deployment to operations

Data flexibility and independence

Auditable results

You can safely use the calculations from FinReCa for independent audits or government inspections.

Full automatisation

Changes are automatically reflected in all instances without the need for manual intervention.

IT independency

Controllers and finance managers work independently with FinReCo, freeing up capacity in the IT department.

Transparent processes

Clear approval processes, including fully automated workflow and access management rights.

Consolidated data

Data for financial reporting and controlling without manual editing and rewriting. Numbers are fixed in the reports.

Unified terminology

For the parent company and its local representative offices. And for its subsidiaries or otherwise property-linked companies.

Flexible acquisition

The solution adapts to you, not other way around. You choose the solution or service exactly to your company’s needs and your preferences.

FinReCo is designed for:

CFOs and management

CFOs, CIOs and other managers are in full control of financial reporting with FinReC’s single, unified version of the truth. Each manager can have their own report tailored to their needs.

Controllers

Gain confidence with FinReCo in detailed analyses of reported numbers, whether they’re looking at them by product, customer, country, branch, or a variety of other instances.

Case studies

Platform Administration and Data Reconciliation Reporting for more than 800 users

We arranged support for more than 800 users on the Power BI platform. Our training report for report creators familiarized with the best tips for self-service development and gave them an understanding of how to connect to the data correctly.

We created a brand new reusable template for report creators, sim plyfing and improving reporting processes. Our redesign of existing reports improves users visual information, which in turn facilitites quick business decision-making and keeps the company functioning at its best.

The data models improved performance allows data to be processed fster and streamline work efficiency.

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Performance Analysis and Improvement page loading accelerated from 3 minutes to 10 seconds

We successfully helped to optimize all aspects of reporting: servers, data mining, data modeling, programming calculations, data visualizations, and storytelling. Page loading was accelerated from 3...

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Business HUB Covering the main KPIs elimination of manual reporting

We created several design options for the layout, which the customer appreciated. One of these options was selected for their reporting. We implemented business and...

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A global retail chain saved up to 60% of employee time

A global retail enterprise wanted to replace the paper-based reporting solution of internal and external thefts, slips, falls, and robberies, which was lengthy and...

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Let's talk

Růžena Barešová
Business Development Manager