Track your company’s financial performance with summitBI solution

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How does your company perform quick comparative financial performance analysis? How fast do you track KPIs in your financial department?

The finance department of any organization handles lots of the big data in this department brings about numerous reports made including financial performance reports of various departments. The compilation those reports is tedious and time consuming.

How the summitBI solution works.

The solution connects to your financial data system. After creating a connection, data cleaning and structuring are automated. Therefore, in just a click all the data is cleaned irrespective of the capacity. Dynamic reports about Gross Profit Margin, OPEX Ratio, Operating Profit Margin and Net Profit Margin in a given period of time are made which are later consolidated into the income statement.

Using data in your system, key financial profitability metrics are then calculated; Gross Profit Margin is computed basing on the revenue and the costs related to providing your services for instance transport costs, among others. This is then used to assess the financial health of your company using the gross margin which shows how much of the company’s revenue remains after deducting its costs related to providing given goods and services.

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Operating expenses are then used to compute the OPEX ratio. This gives how much of a company’s revenue is spent on operating expenses and therefore measures its management efficiency. Gross profit less operating expenses gives the Earnings before interest, tax, depreciation and amortization (EBITDA) which evaluates the operational performance

Depreciation, Amortization and interest expenses are then deducted from EBITDA which yields the Earnings Before Tax (EBT). EBT is then used to yield the net profit. This is done by deducting the taxes from EBT. Net Profit measures the concrete profit of a company after all the working costs are deducted off.

Figure 1: Automated customized Income Statement

Early this year we were contacted by one of the top tax payers in Kenya concerning a solution that automates an income statement and makes predictions. The company was interested in a cost-effective resourceful tool that can be used deftly by its finance team to make timely data driven financial reports. Having identified the problem, a solution was developed as shown in figure 1 which shows a glimpse of the out put however, its fully attached.

At summit, we make sure you get to know  how fast you can track your financial performance, click here to get in touch with the summitBI team and make an appointment.


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