For the business to boom, finance departments must deliver the actionable and accurate insights in real time. Qlik Financial Analytics blends unique financial and accounting data into powerful analytics that help you reduce risks and costs, improve profitability and transparency, and guide more informed decisions.
As the digital transformation in the financial services accelerates, leading firms are gaining a competitive advantage by leveraging their most strategic resource: data. In Qlik, the financial services firms are linking unique data sources and empowering departments with self-service analytics to uncover actionable insights.
Qlik streamlines expense management by merging soiled data and delivering powerful analytical insights. Finance teams can dig deeper into the procurement, expense, and contract data to discover the real cost of doing business as well as find new ways to reduce costs and increase profitability.
Exploring Financial Data
Qlik Financial Analytics is a powerful engine lets you combine complex, multiple sources of data that can be explored in any direction. Analyze the financial analytics performance, run simulations and develop forecasts with total flexibility. Imagine by viewing the last quarter’s largest cost variances, then pivoting to identify the factors that drove them.
Suppose you could see the relative IRR of your top product lines over the past couple of years, and instantly shift your view based on distribution model, geography, or any other factors to gain deeper insight. Qlik enables you more financial and operational control by putting the power of sophisticated analytics for advanced budgeting forecasting and planning into the hands of finance teams.
- Enable true data driven forecasting, budgeting and the planning
Qlik Financial Analytics streamlines processes while providing more in-depth analysis of budgets, forecasting and financial plans. Create more effective strategies to reduce risk and also save money.
- Streamline analysis and gain unparalleled financial insights
Qlik can help accounting and finance departments to make more informed decisions using analytics for the cash flow, amortization, break even and many others.
- Manage revenue and profits with data-driven financial insights
Finance teams must monitor the profitability and revenue to support a healthy financial balance within their companies. Qlik’s advanced analytics makes it more easier with enhanced visibility into balance sheets and the improved cash conversion cycles. Qlik will also creates easy access to the insights that enable finance teams to accelerate reporting and reduce financial burden.
- Powerful data insights to solve the risks and compliance challenges
Qlik gives financial professionals tools that they need to access and combine the data from multiple sources and effectively align governance models with business priorities. Take smarter and more transparent decisions while decreasing the penalties, risk, and fraud.
- Gain enterprise wide view to mitigate the risks and ensure compliance
Qlik Financial Analytics enables better compliance and risk decisions by unifying data from across enterprise data silos. Get the full insights needed to identify the areas of risk and mitigate problems before they occur. Operate with transparency to reduce compliance burden.
- Enhance operational and financial control in governmental finance
Governmental organizations have unique accounting and finance challenges. With Qlik’s, the dynamic financial analytics can improve accounting and financial management, support efficient regulatory compliance, and maximize program performance and spend.
Financial institutions are currently undertaking transformational challenges:
- Operating efficiencies and maintaining stability in an environment of decreasing margins and ever increasing regulations
- Business expansion and continued growth through spotting of new opportunities in an environment of increased competition and stringent budgetary demands
QlikView provides an enterprise solution capable of:
- Merge large volumes of data spanning multiple sources and the lines of business
- Consolidating data being recorded and entered in multiple General Ledgers across complex Chart of Accounts and Cost Centers
- Analyze activity based expenses and costs across multiple geographies, languages and currencies
- Produce consolidated analytics on demand and eliminating the reliance on end-of month reports
Some QlikView application areas for risk management include:
- Enterprise risk management
- Liquidity risk
- Credit risk
- Counter party risk
- Operational risk
- AML and fraud
- Market risk
- Regulatory compliance
QlikView Business Discovery
The Qlik View Business Discovery enables the business users to analyze and explore their risk data without limits. It’ll delivers self-service BI that enables the business users by driving innovative decision-making. QlikView empowers the user at every level of the organization to find tailored insights, addressing users’ individual needs and questions.
Locus IT offers a comprehensive range of Financial Services Analytics solutions, including development, design, support, and training. We have completed successful projects for companies of all sizes across a range of industries.