Velixo Reports: For better business decisions
The success or failure of a business can often be traced back to a single decision, so it’s no surprise that strategic decision making has a profound impact on company success. The key to making better business decisions is to be informed.
“Whenever you see a successful business, someone once made a courageous decision.”
― Peter F. Drucker
Why is financial reporting important?
Financial reporting reflects a picture of the health of your business.
Financial analysis and reporting are the bedrocks of modern business. They provide businesses with snapshots of their important activities. Here are some of the biggest benefits of financial reports.
- Improved debt management:
We all know the saying “It takes money to make money”. So it’s no surprise that many businesses borrow money, particularly in the early days. According to Finder, 40% of business owners borrowed money in 2019 with the average loan size being $663,000 USD.
In a Gallup Poll 36% of U.S. are “very or somewhat” uncomfortable with their debt load and 49% percent of those small business owners say it’s “extremely difficult” to pay down their current debt. Hence the importance of effectively managing debt. This can be done by using effective and regular reports to monitor financials and to help budget.
- Strength, weakness and trend identification:
In every aspect of life, and not just business, there are strengths, weaknesses and often trends. It is important to identify these and not just in the ‘ol faithful’ SWOT analysis. This needs to be done through analysis of data. Reporting can help identify trends both past and present. Enhancing strengths, improving weaknesses and strategically using trends to a business’s advantage is important.
- Quick informed decisions:
Reporting provides access to insightful and accurate reports, and the faster they are made, the better. These reports form the basis of analysis helping you and your team make informed decisions quickly.
- Progress reporting:
Reporting offers accurate and robust information to identify areas for improvement in financial activities. Data presented in the reports can show areas of improvement when changes are made.
Why is it so hard?
In practice, accounting and financial reporting can be quite complicated! Typical reasons as to why reporting is hard include:
- Creating reports can be tedious
- Time consuming
- People who produce business software, to aid reporting, often make a one size fits all software and assume that all businesses are the same.
- You’re not using the right software
Thankfully the tools are out there to drive better business decisions, and organizations who are using them are already reaping the benefits.
That’s why we are a proud partner of Velixo.
So what is Velixo?
Velixo Reports is an excel based reporting tool built for Acumatica and MYOB advanced. Velixo Reports adds a new toolbar to Excel and more than 50 functions specially designed to work with General Ledger and Project data. It can build financial and project reports in excel with live data in less than 5 minutes. It’s about efficiency for you and your team. Giving you the right information, quickly for better business decisions.
The good news is, if you already know how to use Excel, you know how to use Velixo.
Here are some more benefits of Velixo.
Velixo allows for unlimited user licensing, so you can grant access to anyone who needs it, at no extra charge. This gives your whole workforce the ability to use Velixo, to create accurate and informative reports, fast.
Velixo is backed by the worldwide network and expertise of Acumatica Partners, and allows all users access to the online community and a self-service support portal.
What are the main features:
Want to know more about how Velixo can help you?
Contact us today +27 21 065 0360 / firstname.lastname@example.org