Variance Analysis

Gain visibility and control with timely analysis

Challenge

Despite the benefits that a timely variance analysis offers to the office of finance, the process is often left to be completed with whatever time is left at the end of the periodHowever, by automating the analysis through the use of Risk Intelligent RPA (RI RPATM), the office of finance can now effectively identify areas of financial risk and craft a proactive business strategy, even while reconciliation and close activities continue on smoothly. 

Capabilities

  • Analysis is conducted throughout the period to more quickly assess trends and capture significant variances 
  • Data is pulled from the ERP and compared across multiple established time periods for a more in-depth view of trends 
  • Potential fraud is more quickly mitigated with efficient and timely detection 

How It Works

To initiate variance analysis with Cadency, the office of finance establishes minimum analysis thresholds for when human intervention is required based on specific time periods and configures them within the solution. RI RPA then embeds those rules into its comparative review of data coming from each ERP. When the minimum threshold is reached, alerts are sent to the appropriate team member for higher-level analysis. 

Key Benefits

Supported GrowthSupported Growth

Scale the analysis process throughout the period

Clear VisibilityClear Visibility

Real-time view into budget trends with actionable insights

Simplified CollaborationSimplified Collaboration

Collect and aggregate comments on variances

Risk MitigationRisk Mitigation

Reduce manual error with early detection

ERP IntegrationERP Integration

Easy connection with multiple ERP applications or instances

“Cadency delivers real-time reporting that highlights potential challenges, offering a snapshot of our exposure to risk.” —Western & Southern

Transformative System of Financial Controls

Cadency is the only System of Financial Controls that weaves all R2R activities into a single seamless process. Improving the timely execution and output of variance analysis allows even the most complex companies to focus on the bigger picture of what transforming the financial close process can do for their business. 

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