Financial dashboards can drive transformation – here’s how

Lack of visibility into company financials interrupted forecasting and other accounting operations during the pandemic. It’s why 63% of accountants were working overtime, trying to keep processes running while working from home. With these roadblocks, most businesses have turned to automation, which has helped them improve data visibility, create accountability and reduce the scope of errors within accounting.

Having real-time access to information is critical for decision-making. In accounts payable (AP), this can be achieved with dashboard reporting on key AP metrics.

Identify areas of success and concern with dashboard reporting

An AP dashboard provides a full view of your financial metrics, sharing insights into each workflow – purchase orders, invoices, payments and expenses – and measures how they are performing, individually and altogether.

Finance leaders can use the Beanworks’ smart AP dashboard to dig deeper into multiple streams of data such as:

  • Time spent on coding and approving invoices
  • Time spent on processing invoices and payments
  • Pending invoices and payments
  • Sum of all new invoices
  • Sum of all new payments
  • Total monthly/daily expenses (subject to filter setting)

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