How to ensure data quality and transparency in your financial figures
14th Jul 2021
Brought to you by
Share this content
Trusting your numbers is vital!
But to be able to trust them, you must know where your figures are originating. If you cannot track your data back to the raw data source, you will experience difficulties explaining how you got from one figure to another.
And the consequence?
The output of your calculations and the report you present to management will be erroneous, and consequently, the strategic decisions they make based on your numbers will be too.
Data transparency will help you solve this exact problem and increase your data quality. If you are not sure how and where to get started, the answer, in short, is to use financial software to automate the structuring and standardizing of your financial data.
So, if you are a finance professional in a small and medium-sized enterprise (SME) currently using Excel as the go-to source for data structuring, this post is for you. It will help you to increase data quality by ensuring better transparency when processing financial data.