The Best Financial Reporting Tools You Should Invest In

Financial reporting tools are included in multiple types of software. The most common occurrences are in business intelligence software. These tools will help store data and produce reports related to costs, performance, and a variety of other metrics. Accounting software is another common software type related to financial reports. These tools help accountants organize expenses, budgets, and resources. After many accounting practices are completed, reports may be produced for further retrospective analysis.

There are many financial reporting tools and platforms available for automating the processes of reporting. It is important to opt for the right ones to maximize the benefits.

Here are the top 10 tools that you should consider investing in:

IBM Cognos

IBM Cognos Analytics software is an online-based business intelligence platform, which offers a complete array of BI software to help businesses. Considered as one of the leaders in the field of business intelligence, IBM Cognos compromises over thirty different products. The top features of Cognos Analytics include the intuitive dashboard, reporting, analytics, scorecard and data integration.

Key Highlights:

  • IBM Cognos integrates a multitude of data sources across an enterprise into a single, manageable reporting and analytics environment.
  • IBM Cognos integrates with and leverages enterprise directory systems to enable data, and object security within the reporting environment.
  • IBM Cognos provides implementation and deployment options that support scalability to grow with your enterprise.

For more information about IBM Cognos, click here!

Microsoft Dynamics 365

Microsoft Dynamics 365 for Finance and Operations, which was launched in November 2016, is focused on small midsized enterprises and offers a cloud-only deployment model. This tools is designed for collaboration where users can interact in Yammer and quickly add colleagues to projects and meetings.

Key Highlights:

  • Easy to use, not expensive, simply to navigate.
  • Integration with Outlook available for e-mailing. Its templates are very useful for communicate news or tips to a sales team. Integration with other Microsoft products is great too.
  • Dynamics is easy to customize, where even a person who lacks significant computer skills can create accounts, contacts, and the rest; no programming skills that are required.
  • Customer support is good with the FAQ and options that are really needed.
  • Users can bulk data to One Drive and access it synchronized with my desktop.

For more information about Microsoft Dynamics 365, click here!

QuickBooks Online

Intuit’s QuickBooks Online is arguably one of the best small business accounting software currently on the market. Not only does it has both accounts receivable and payable features, it can also track projects and inventory, making it a ‘must-have’ for every business. You can use this software for bank
reconciliation, tracking expenses, drafting invoices and monitoring financial reports, among many of its other uses.

Key Highlights:

Mobility

The most common praise is that QuickBooks Online gives mobility to users and companies. Previous QuickBooks Desktop users particularly like that they are no longer tied down to one computer.

Easy To Use

Many customers find QuickBooks Online easy to learn and use, especially compared to the desktop version of the software. Even non-accountants find the software enjoyable to use.

Feature Selection

The number of features supported by QuickBooks Online is a common point of praise. Many users particularly like payroll capabilities.

Saves Time

Countless businesses report that QuickBooks Online saves time and keeps their companies organised.

For more information about QuickBooks Online, click here!

Float Cash Flow Forecasting

Float is an award-winning cash flow forecasting, cash budgeting and cash management tool exclusively for use with Xero, QuickBooks Online or FreeAgent. View your cash flow on a daily, weekly and monthly basis, scenario plan at the click of a button and forecast up to 3 years into the future! Because Float reads amounts and expected dates on every bill and invoice, you get granular, actionable insights into your cash flow that you can then share with your bank, investor or board.

Key Highlights:

  • Float easily integrates with Xero, which allows you to easily configure which banks get synced for display purposes, and provides excellent insight into the sources of cash and also where cash is being spent.
  • The invoices due and bills to pay reports are an easy way to access overdue bills and invoices without clicking through the accounting system.
  • This is ideal for anyone who wants to get an idea of their cash flow history and projections.

For more information about Float Cash Flow Forecasting, click here!

Zoho Books

Zoho Books is one of the best financial reporting software on the market. It is an online accounting platform which allows businesses to manage the money, flowing in and out. One can use this software to manage their customers, invoices and keep expenses in check. This software is specially designed for small business to handle their finances and remain on the top of their cash flow. When it comes to finding a solution for all your accounting problems, this should be your go-to option.

Key Highlights:

Easy to use

According to users, this platform is extremely simple to use. One does not need much technical knowledge to start using this software for their business.

Good Support

Whenever you are stuck have a problem or even confused about something, you can always go to their support team. Their team is responsive and always there to solve issues for its customers.

Phone-based app

Zoho Books offers a mobile app. This helps its customers to stay at the top of their accounting game anytime and anywhere.

For more information about Zoho Books, click here!

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