Simplifying finance data in the cloudManaging financial data is a complex and time consuming task. Finance teams face multiple streams of data, in different technical languages to process, manage and analyze. In order to gain a complete view of the organizations’ finances, this data must be accrued to create a single source of data, often undergoing time-intensive manual processes that are open to human error. The Kleene ELT platform presents an opportunity to overcome these data challenges.
The cloud-native ELT platform is an AI powered, serverless tool that transforms your data using SQL, to be stored in your data warehouse. It leverages cloud power to execute complex calculations in real-time so that data can be collected, centralized, structured and organized ready to be delivered into the hands of your analysts. Finance departments are transforming the way they operate with the Kleene ELT platform, managing processes more efficiently and enabling more accurate data-driven decision making. Keen to find out more? These are our top five reasons why finance departments need the Kleene ELT platform.
1. Financial Data Analytics
For finance departments, gathering, processing and analyzing data from various sources to draw insights is a complex task. But the ELT platform provides a single source of data truth to help finance delve straight into the company’s financial data to produce in depth analytics that will reveal insights and drive financial performance.
Finance teams are able to more easily, and accurately analyze finance data such as revenue, expenses, cash flow, balance sheet and more, improving financial visibility, productivity, and value for stakeholders and the business itself.
2. Analyzing complete data
The Kleene ELT platform builds a collective view of historical and real time data. This makes it easy for finance teams to retrieve data when they need it and gain powerful insights, informing future decisions.
This technology allows finance teams to review and analyze complete data sets from customers, revenue generated, payroll costs, and net income and gain unparalleled insight into trends. Having a full overview of their data when moving to the cloud, permits financial teams to make data driven decisions.
3. Control financial risk
The ELT platform connects all critical data sources that finance teams require to develop insight. It simplifies the process of extracting insight from the data by allowing teams to capture real-time data, and retrieve historical data from multiple data sources, at speed.
Due to the crucial and sensitive nature of the data handled by finance teams, it makes it even more important to have a streamlined data management process. The Kleene ELT platform allows finance teams to automate processes that are typically manual and therefore open to the risk of human error. The immediate access to complete datasets allows financial decision making to be nimble and reactive. Decisions are able to be made quicker, whilst being better informed, minimizing overall business risk.
4. Reduces manual administration
The single source of data truth provided by the Kleene ELT platform eliminates the manual administration of gathering, extracting and analyzing data sets. The automation of these processes resultantly removes the risk of human error.
In turn, the manual process of monthly reporting such as purchase ledger, balance sheet and income statement are automated, freeing up a huge amount of time and resources. It also means these financial reports are far more accurate, encompassing data from a range of sources. This frees up the finance team to spend more time on minimizing risks, and identifying opportunities.
5. Improves decision making
The Kleene ELT platform allows finance teams to store financial data in a structured format, and it is transformed into one language and a usable format. Leveraging this higher quality, complete data allows finance departments to improve decision making, based on reliable data.
The easy access to historical data allows finance departments to analyze and forecast based on real business experiences. The precise data simplifies both reporting and analytics, in turn providing the base to smarter decision making and improving business performance.
Transforming finance with the Kleene ELT platform
Kleene’s ELT platform is revolutionizing the way that finance departments are handling their data. It offers finance a secure, reliable and accurate way to derive a single source of truth across all data fields, improving analytics, controlling financial risk and reducing the risk of human error through reduced manual administration. By saving time and resources, and speeding insights and decision making, the ELT platform is the future of finance operations.