{"id":13394,"date":"2022-07-22T09:16:00","date_gmt":"2022-07-22T13:16:00","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=13394"},"modified":"2026-02-12T04:28:32","modified_gmt":"2026-02-12T09:28:32","slug":"from-financial-reporting-to-data-visualization-a-needed-switch-to-drive-organizational-growth","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/from-financial-reporting-to-data-visualization-a-needed-switch-to-drive-organizational-growth\/","title":{"rendered":"From financial reporting to data visualization, a needed switch to drive organizational growth"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tMoney Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tFrom financial reporting to data visualization, a needed switch to drive organizational growth\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"Teresa\t\t\t\tTeresa Meek<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

As companies digitize their financial processes, they are accumulating enormous amounts of data about operations and customers. The point of collecting this information is to provide insights that leaders and teams can use to make better decisions.<\/p>\n\n\n\n

As a result, visual reporting is gaining momentum. Foundry\u2019s 2021 Data and Analytics survey<\/a> found that 69% of organizations are piloting or using visual dashboards and data visualization tools to consolidate and share information. By 2025, data stories will be the most widespread way for organizations to consume analytics, according to Gartner<\/a>.<\/p>\n\n\n\n

\u201cPortraying financial data in a user-friendly way allows people to discover connections they wouldn\u2019t have seen otherwise,\u201d says Scott Freedman, director of marketing at Sage Intacct. \u201cWith that information, they can make decisions that improve the business.\u201d<\/p>\n\n\n\n

But at many organizations, this new type of reporting has yet to gain traction: Over half of finance departments struggle to provide data and reports stakeholders can rely on to inform their decisions, according to Gartner<\/a>.<\/p>\n\n\n\n

Data is only useful when people can easily find it, understand it, and put it to work. When it\u2019s buried in spreadsheets and scattered across departments, teams often don\u2019t know where to look for it. Searching takes up valuable time, and the numbers teams find often lack context.<\/p>\n\n\n\n

\u201cData is too often siloed and represented in ways that don\u2019t allow people to slice and dice it the way they need to,\u201d says Freedman.<\/p>\n\n\n\n

In addition, spreadsheets can\u2019t keep up with real-time operations. \u201cThey are stuck in time,\u201d Freedman says. \u201cThey show recent or long-term past performance, but not the real-time reporting you need to predict the future.\u201d<\/p>\n\n\n\n

Frustrated by the inability to use their data effectively, management teams are turning to new solutions that collect data across the business and present it in customized dashboards. The dashboards don\u2019t just display facts and figures. Instead, they create a narrative that places the data in context, along with graphical depictions that help bring it to life. Finance leaders and teams can easily filter the information to learn what\u2019s working and what\u2019s not, and then using these insights to improve operations or find new revenue opportunities.<\/p>\n\n\n\n

For example, Quicksilver Express Courier, a \u201clast mile\u201d delivery service, collected all kinds of data about its fleet, but lacked visibility about individual vehicle profitability. After adopting Sage Intacct, Quicksilver\u2019s finance executives were able to drill down into the profit and loss for each truck. As a result, the company learned it was overpaying for workers\u2019 compensation insurance, and subsequent adjustments saved $100,000 a year. Other changes based on insights Quicksilver gained from the platform helped the company increase total profitability at some of its locations by 5% to 25%.<\/p>\n\n\n\n

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Case Study – Quicksilver Express Courier<\/h2>\n\n\t\t\t\t\t\t\t\t\t
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Delivery firm boosts profitability with breakthrough insights and efficiencies gained in Sage software<\/p>\n

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In addition to improving business results, sharing information through customizable dashboards helps executives better communicate with their teams. Reports don\u2019t necessarily show why results are important, but presenting them in a narrative with visual illustrations explains them more effectively and makes leaders\u2019 recommendations more meaningful and convincing.<\/p>\n\n\n\n

Teams can experiment with their dashboards, using real-time information, charts, and graphs to try out ideas for improving processes or services. \u201cYou can look backward or forward and use real-time insights to predict future results,\u201d Freedman says.<\/p>\n\n\n\n

Learn more about Sage Intacct by attending one of the daily Coffee Break Demos<\/a>.<\/p>\n\n\n

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Get our latest business advice delivered directly to your inbox.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\tSubscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\"Working\t\t\t<\/div>\n<\/div>\n\n

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