5 reasons why companies choose BrightAnalytics

5 reasons why companies choose BrightAnalytics for their management reporting

1. Streamlined consolidation

BrightAnalytics is the perfect tool for all your consolidation needs, offering adaptability, reliability, and versatility. Our platform supports multiple consolidation circles, allowing you to cater to diverse reporting requirements and ensuring comprehensive and precise financial reporting. With BrightAnalytics, you can easily perform multi-GAAP and IFRS adjustments, accommodating various accounting standards effortlessly.

The tool provides customizable consolidation intervals, enabling you to choose from yearly, quarterly, monthly, year-to-date (YTD), or other intervals to suit your specific needs. Consolidation entries can be utilized across multiple circles seamlessly, making the process smooth and efficient.

To ensure data reliability, BrightAnalytics implements health checks that monitor and manage changes effectively. This feature guarantees the accuracy and dependability of your data at all times.

2. IC Elimination

Our consolidation tool seamlessly identifies intercompany entries by leveraging flagged data showcased in the IC reconciliations app. These entries are automatically processed and recorded per relationship across various consolidation groups, ensuring precise and efficient financial consolidation.  Through direct integrations with source systems and by reading data at the transaction level, it is easy to identify intercompany transactions. In other words, it is not necessary to label intercompany transactions in the accounting records.

In addition to its powerful consolidation capabilities, BrightAnalytics is also a comprehensive management reporting tool. It empowers end-users to fully control the entire reporting process. Unlike traditional systems where users must complete a full legal consolidation and then export data to Excel for management reporting, BrightAnalytics streamlines this process. Users can generate insightful management reports directly within the platform, eliminating the need for cumbersome exports and ensuring a more efficient, accurate, and user-friendly reporting experience.

3. A fast, intuitive, and dynamic interface 

Feedback from our extensive customer base consistently highlights the user-friendliness of BrightAnalytics, for both financial and non-financial users. With just half a day of training, you can quickly become proficient with our platform.

BrightAnalytics empowers you to easily make changes to structures, mappings, dashboards, user accesses, and more. Unlike traditional BI tools, which often require an internal or external specialist to make any adjustments, our platform puts the control directly in your hands. Additionally we offer a visually appealing interface enhancing the overall user experience. 

Don’t be misled by its ease of use—BrightAnalytics is a powerful tool designed to automate complex processes with just a few clicks. You can slice and dice data, explore various analytical dimensions, and drill down to posting details and scanned invoices. Our intercompany matching tool allows you to quickly identify any discrepancies, ensuring that your IC eliminations balance to zero and saving you from the time-consuming task of hunting for errors in your accounting packages.

4. We integrate with your software 

We connect with your system both cloud-based or on-premise systems. Today, we have over 280 integrations available, like Exact, AFAS, SAP, Twinfield, Microsoft Navison, …  If your software package is not on that list, we pride ourselves with the fact that we can create the connector in a matter of days – it’s just what we do.

BrightAnalytics makes sure the data on the platform is always 100% compliant with the source system (accounting, ERP, or CRM package). The built-in health check makes sure  that there are no discrepancies between what is reported and what has been booked. If you for example create a new GL account in your software package, you will receive an email notification that mapping is needed to the correct P&L structure.

BrightAnalytics synchronizes the data every night between your source system and the platform, so you always look at the most recent data available. In closing periods, you even might want to do this several times a day to check the final result based on the last accounting entries. Just hit “refresh”.

5. ESG Reporting 

In addition to comprehensive consolidated management reporting, BrightAnalytics goes a step further by offering ESG (Environmental, Social, and Governance) reporting solutions. Manage your ESG responsibilities effectively with our suite of dedicated ESG applications. These tools allow you to streamline your ESG reporting processes, ensuring effortless compliance with legal obligations while minimizing your workload.

• ESG Management
• Customisable KPI Reporting
• Fleet Admin