Long Lead Times Associated with the Customization of New Financial Reports


User requirements in respect of financial reporting can change over time but getting those adjustments made in a timely manner can be very difficult and involves the scheduling of time with an already busy IT department. As a result this leads to an explosion of ad hoc Excel reports that take data from different systems or which may simply be for a more complex computation.



The implementation of financial reporting tools that are suitable for end-users is important to avoid preparation of reports manually.



FlexSystem has developed technologically advanced new financial reporting tools for supporting end-user computing. Financial reporting tools integrated with FESA Financial are Financial Query and Financial Brick. Financial Query offers a high performance computing engine while Financial Brick offers a very innovative and easy to use visualization interface for users to create and run new financial reports very efficiently.



Upon implementation of the system, inter departmental tensions amongst management, the financial department, the IT department and service vendors are gradually reduced. Management can have access to more timely information to support their decision making when the system allows for end-users to create and run financial reports very quickly and costs associated with this process are reduced significantly.