What is financial analysis?
Financial analysis is the collection, analysis, and interpretation of the financial data of the company. Based on the interpretations presented by the financial analysts to the company, future decisions are based to earn profit and see the company improve and grow. This means that these interpretations are very important and should be completely accurate because the fate of the entire company lies in the decisions made on the same interpretations provided by the financial analyst.
A changing dynamic however is that the companies are growing and so are their finances. They have become more complex and the amount of work that the analysts are required to do is getting t
There are however various software and applications that can be used to have this work done smoothly as well. If a financial analyst is tech-savvy, then using them does not feel that difficult and they can do their huge tasks with more ease and comfort.
Below mentioned are some important and useful software that can be counted as an additional plus point for those who know how to use it efficiently.
Efficient and useful tools
SAP Analytics Cloud
This was launched in 2015 but it has gained a lot of success ever since. It is a web-based software that can be used on operating systems, windows, and Mac. Also known as the business intelligence platform, it provides two options, Business Intelligence and Planning. Business intelligence offers services like data analysis and planning abilities. Planning allows the user to create and present different and useful financial planning models.
IBM Planning Analytics
This platform is very useful. It provides the facility of planning, budgeting, analysis, and even forecasting providing insights for further financial forecasting and analysis of the product and customer-related profitability. The three applications IBM Planning Analytics Express, IBM Planning Analytics Digital Pack, and the IBM Planning Analytics offer IBM Planning Analytics services. It also allows for the analysis and of complex, complicated, and multi-dimensional data. Different vectors, charts, graphs can be used to visualize the data. The best part is that there are tutorial videos present for those who are new to the software.
Host Analytics
The cloud-based management system was established and launched in 2001. It is slightly different than the others but offers planning, consolidation, and assistance which can help in the final financial report process. There are five services currently that the platform provides, planning, modeling, compiling, and reporting. These features can save time, connect different kinds of models. It has become extremely easier to make reports on it. These platforms are very easy and help save energy and time simultaneously.
