Business Intelligence for Finance
What is very often misinterpreted in standard Business Intelligence (BI) solutions is that BI can measure performance. BI can measure only for limited segment of non financial performance. Performance cannot be measured if Financial Statements are not included in analysis. Business performance cannot be measured if derivations of financial statements are not measured, analyzed, compared…
Keyword is always financial. If financial cannot be measured then it is not business performance measurement, it’s like talking about business performance without profitability… And to measure financial performance very specialized solutions are needed.
Business performance management consists of a set of management and analytic processes, supported by technology, that enable businesses to define strategic goals and then measure and manage performance against those goals. Core BPM processes include financial and operational planning, consolidation and reporting, business modeling, analysis, and monitoring of key performance indicators linked to strategy. Source: http://en.wikipedia.org/wiki/Business_performance_management.
FCBI is narrow BPM without applied methodologies. FCBI is integrated solution with specialized solutions for Finance and Controlling specifics. Controlling processes are essential part of Decision Supporting processes with specially designed BI – FCBI.
If dashboard does not rely on FCBI, then it could generate information clutter. What is the meaning of additional information that could not be aligned with financial statements?