CONNECT by Datarails

14 Reasons to Use CONNECT by Datarails CONNECT by Datarails can solve all these challenges! Finance leaders recently asked each other to share their most painful Excel challenges. 𝘞𝘩𝘪𝘤𝘩 𝘰𝘱𝘴 𝘰𝘳 𝘵𝘳𝘢𝘯𝘴𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘴 𝘤𝘰𝘯𝘴𝘵𝘢𝘯𝘵𝘭𝘺 𝘦𝘢𝘵 𝘶𝘱 𝘸𝘢𝘺 𝘵𝘰𝘰 𝘮𝘶𝘤𝘩 𝘰𝘧 𝘺𝘰𝘶𝘳 𝘵𝘪𝘮𝘦? In order of most upvoted Excel Hell process here are the top 14: 1. Mapping exercises…the never ending mapping exercises (220 Upvotes) We’re changing our corporate structure and splitting some departments while joining others, can we see how that will look for next year’s budget with both structures and can you go back five years and re-do our reporting to align? 2. The request for historical data when the GLs have changed 4 times since (65 upvotes) 3. Text to columns & date formats & converting into numbers with exports (58 upvotes) 4. Waterfall graphs (31 Upvotes) Not impossible but they annoy me. 5. Consolidating data from reports maintained in the front end without consistent unique identifiers rather than driven by a nice flat dataset (29 Upvotes) If the end user maintains the layout or you can at least predict how the layout could change, you can build a smart enough PowerQuery to flatten the data.. but in my experience that is seldom the case. 6. Working with people in countries where commas are decimals and decimals are commas (21 upvotes) 7. Pricing (11 Upvotes) The food team send us ancient matrices where the unique ID is almost always out of date, or missing. 8. Getting different sources of data with different formatting to map together (7 Upvotes). For example, not having a common lookup between databases that match. I.e. a store number. But a store name that varies between two databases that you have to adjust in order to match between the two. 9. Updating reports while showing variances since the prior update. So f’kin manual with copying and pasting (7 Upvotes) 10. When your data import is dd/mm/yyyy but your excel is mm/dd/yyyy (6 Upvotes). It has been 4 years and every time the conversion formula is different. 11. Manually inputted data sets…(5 Upvotes) 12. Does anyone else have to deal with customer rebates. Makes me want to break my hands each quarter (4 Upvotes) 13. Indexing garbage data each month out of a garbage ERP and having to work explicitly in basic Excel because it's easier than working in the garbage ERP (3 Upvotes) 14. When a front end data generator changes the template and doesn't say anything about it. Or someone disrupts formulas in a share file (1 Upvote). PS is your most painful Excel task here?

When data is aggregated across multiple business units, linking sheets into a master model, Excel files can get big and complicated and are then more difficult to manage and more prone to crashing. Surely it's time to try CONNECT by Datarails!

O is for...Operating Expense Tracking Closely monitoring operating expenses is essential for controlling costs and improving profitability. Effective expense tracking involves categorizing expenses, analyzing trends, and comparing actual spending to budgets. However, manually tracking expenses across different departments and systems can be challenging. CONNECT by Datarails simplifies operating expense tracking by pulling real-time data from your ERP directly into Excel. With CONNECT, you can easily categorize expenses, analyze trends, and identify cost-saving opportunities. Set up automated alerts to flag unexpected spikes in expenses and keep your budget on track. Automated expense tracking provides real-time visibility into spending patterns and enables more frequent and accurate reporting. Take control of your operating expenses and boost your bottom line with CONNECT. By proactively managing expenses, finance teams can improve cost efficiency, allocate resources more effectively, and make informed decisions that drive profitability.

𝐍 𝐢𝐬 𝐟𝐨𝐫...𝐍𝐞𝐭 𝐏𝐫𝐨𝐟𝐢𝐭 Net profit is a critical measure of a company's financial performance, representing the bottom line after all expenses have been deducted from revenue. Accurate and timely net profit calculation is essential for assessing profitability, making strategic decisions, and communicating with stakeholders. However, calculating net profit often involves manually aggregating data from various financial statements. CONNECT by Datarails streamlines net profit calculation by pulling real-time data from your ERP directly into Excel. With CONNECT, you can easily set up formulas to calculate net profit and drill down into the underlying revenue and expense components. Automated data consolidation ensures accuracy and saves time compared to manual processes. Gain a clearer picture of your company's profitability and make data-driven decisions with CONNECT. By monitoring net profit trends over time, finance teams can identify opportunities for cost optimization, pricing strategies, and growth initiatives that improve the bottom line.

𝐌 𝐢𝐬 𝐟𝐨𝐫...𝐌𝐞𝐫𝐠𝐞𝐫𝐬 & 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 Mergers and acquisitions (M&A) are complex transactions that require meticulous financial analysis and due diligence. Successful M&A deals rely on accurate and timely financial data to assess target companies, identify synergies, and negotiate terms.   Gathering and consolidating financial data from target companies can be time-intensive and error-prone. CONNECT by Datarails empowers finance teams to efficiently analyze M&A opportunities by directly pulling real-time data from multiple systems into Excel. With CONNECT, you can quickly model financial scenarios, assess synergies, and perform valuation analyses to make informed M&A decisions. Automated data consolidation accelerates the due diligence process and reduces the risk of errors. Simplify your M&A process and unlock value for your company with CONNECT. By leveraging real-time data and powerful modeling capabilities, finance teams can be more agile and strategic in pursuing M&A opportunities that drive growth and create shareholder value.

𝐍 𝐢𝐬 𝐟𝐨𝐫...𝐍𝐞𝐭 𝐏𝐫𝐨𝐟𝐢𝐭 Net profit is a critical measure of a company's financial performance, representing the bottom line after all expenses have been deducted from revenue. Accurate and timely net profit calculation is essential for assessing profitability, making strategic decisions, and communicating with stakeholders. However, calculating net profit often involves manually aggregating data from various financial statements. CONNECT by Datarails streamlines net profit calculation by pulling real-time data from your ERP directly into Excel. With CONNECT, you can easily set up formulas to calculate net profit and drill down into the underlying revenue and expense components. Automated data consolidation ensures accuracy and saves time compared to manual processes. Gain a clearer picture of your company's profitability and make data-driven decisions with CONNECT. By monitoring net profit trends over time, finance teams can identify opportunities for cost optimization, pricing strategies, and growth initiatives that improve the bottom line.

𝐌 𝐢𝐬 𝐟𝐨𝐫...𝐌𝐞𝐫𝐠𝐞𝐫𝐬 & 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 Mergers and acquisitions (M&A) are complex transactions that require meticulous financial analysis and due diligence. Successful M&A deals rely on accurate and timely financial data to assess target companies, identify synergies, and negotiate terms.   Gathering and consolidating financial data from target companies can be time-intensive and error-prone. CONNECT by Datarails empowers finance teams to efficiently analyze M&A opportunities by directly pulling real-time data from multiple systems into Excel. With CONNECT, you can quickly model financial scenarios, assess synergies, and perform valuation analyses to make informed M&A decisions. Automated data consolidation accelerates the due diligence process and reduces the risk of errors. Simplify your M&A process and unlock value for your company with CONNECT. By leveraging real-time data and powerful modeling capabilities, finance teams can be more agile and strategic in pursuing M&A opportunities that drive growth and create shareholder value.

𝐋 𝐢𝐬 𝐟𝐨𝐫...𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 Effective liability management is crucial for maintaining a healthy balance sheet and mitigating financial risks. This involves regularly monitoring and analyzing liabilities such as accounts payable, debt, leases, and contingent liabilities. Yet, manually consolidating liability data from various sources can be daunting. CONNECT by Datarails simplifies liability management by enabling finance teams to pull real-time data on accounts payable, debt, and other obligations into Excel. With CONNECT, you can easily track key liability metrics, such as the current and debt-to-equity ratios, to ensure your company maintains sufficient liquidity and solvency. Automated liability tracking allows for more frequent and accurate reporting, enabling proactive management of debt levels and payment schedules. Streamline your liability management processes and make more informed financial decisions with CONNECT. By staying on top of liabilities, finance teams can optimize working capital, reduce interest costs, and strengthen the company's financial position.

𝐊 𝐢𝐬 𝐟𝐨𝐫...𝐊𝐏𝐈 Key Performance Indicators (KPIs) are essential metrics used to evaluate a company's success in achieving its strategic and operational goals. Effective KPI tracking involves selecting relevant, measurable, and actionable metrics that align with your business objectives. However, manually tracking KPIs across disparate systems can be time-consuming and prone to errors. CONNECT by Datarails streamlines KPI tracking by pulling real-time data directly into Excel. Finance teams can easily set up formulas to calculate and monitor crucial KPIs like revenue growth, profit margins, and cash flow ratios. Automating KPI tracking enables more frequent monitoring and timely decision-making. With CONNECT, you can spend less time gathering data and more time analyzing insights to drive business performance. Regular review and adjustment of KPIs ensure they remain relevant as business priorities evolve. By leveraging CONNECT for KPI tracking, finance teams can be more agile, proactive, and strategic in driving organizational success.

Tired of spending countless hours manually exctracting data from your various systems? (There is another way)