You may be acquainted with riskrate to empower your growth by running high-quality financial reports faster. You may have set the targets for 2023, run your budget, or shared customized financial reports with your team, bank, or board with your comments; if so, you're already saving time, but chances to boost productivity even more in 2024 if you knew more about riskrates many valuable features.
Make a habit of these ten riskrate key features, and you'll see quickly how much your team can boost productivity in 2024.
1. Cut financial reporting time by 90%: run all your favorite financial reports with a click.
Riskrate supports three methods of automating financial reporting.
To save time, start automating with a gallery full of free financial reporting templates and add human-like financial analysis. Secondly, you can add your personalized comments easily and, thirdly, share your dynamic financial reports with your team, board, or other stakeholders with a click: s/he can even drill down to numbers at your financial report without logging in to the riskrate.
It's important to remember that accurate bookkeeping is fundamental to all automation. Your accountant plays a crucial role in this.
2. Personalize reports with head-turning professionalism
CEOs want to be in contact with real people. If finance reports lack personal elements, it may feel monotonous or dull for a CEO typically unfamiliar with financial jargon.
Riskrate helps you add your personal touch in several ways: your friendly picture makes the financial report feel more personable, and you can add your comments.
3. Run all reports in digital, PDF, or Excel format
With riskrate, you can run financial reports in any format, depending on your reporting needs. A digital report is ideal for monthly financial reviews when you need personalized messages and super interactivity. Your team can access the financial review without time-consuming logging into the system.
A PDF report is ideal for official financial documentation, for example, on monthly financial reviews for board meetings or when you need a filed document with limited interactivity. Excel is the perfect tool to make quick calculations. With riskrate, you can export your reports to Excel with no broken cells.
4. Cut consolidation time by 100%: get a centralized view of performance with a multi-entity, multi-currency P&L / BS
During economic uncertainty, closing the gap between reporting delays and making every revenue opportunity count is critical. The goal is for CEOs to make faster decisions based on fresh financial data.
Intra-group accounts play a vital role in maintaining financial decision-making within a multi-entity. Teams who have set transparent processes for intra-group bookings complete group monthly financial reports ten days faster than their peers.
With riskrate, you can connect all your entities, unify the chart of accounts, put intra-group reconciliation on autopilot, and run all group financial reports with a few clicks. Riskrate takes care of laborious FX conversion for both P&L and BS on the fly, supporting the 30 most popular FX currencies.
5. Automated data categorization to your chart of accounts
We can't all afford personal analysts to help us categorize financial data. But we definitively can't afford to take hours to double-check all formulas or human mistakes in financial reports. The success of a financial report can significantly depend on your ability to communicate with the CEO in a prepared, professional, and accurate. With the riskrate reporting engine, you'll never make human mistakes as your financial data is categorized accurately to the chart of accounts. You can use riskrate's automated data categorization, or if needed, you can customize your chart of accounts with a click.
6. Custom activities: Segment and filter your financial data
Riskrate's financial data categorization and filters allow you to segment and narrow down your accounts, products, people, spending, and activities based on your desired custom criteria.
Imagine you’ve created several sales accounts in bookkeeping, maybe for products, sales managers, and cities. Now, say you want to follow these sales accounts by a segment on a board report, for example. You can use Riskrate’s custom fields to categorize the “segment” of these sales accounts. You can be as specific as you like. You can name your segments and save them for automatic categorization.
Many small and medium-sized businesses use cost centers in bookkeeping to categorize financial data automatically. Using riskrate filters, you can narrow your search two-dimension down to:
all sales accounts by, for example, "Products" cost center and
furthermore, drill down by a "Sales manager" or "City" on the specific Product.
Riskrate’s filters make finding data that only matches specific criteria like this easy.
7. Forecast: run budget and forecast to hit your goals for 2024
Forecasting is vital for various reasons, not the least to help you plan how to grow your business. The earlier you recognize lackluster growth, the faster you can fix problems and continue building your business. Maybe you’re budgeting for a new machine or looking to hit an operating profit before bringing in new talent. Or perhaps you’d like to know how much additional sales you need to win to hit your financial goals 2024. Whatever your motivation, successful and reliable forecasting is a key element of any growth strategy.
With riskrate, you never start budgeting and forecasting from scratch. You can download your earlier budget or actuals as a new budgeting or forecasting template. Automation helps you to plan your growth or spending cuts easily with multiples. The Actual view allows you to see the budget variance compared to the actual — for easy adjustments. This way, you can make adjustments before it’s too late.
8. Connect your bookkeeping software to riskrate with integration: run your first report in less than 3 minutes.
Riskrate supports three methods to upload financial data: connect your bookkeeping software to riskrate with the integration or upload your general ledger in CSV or financial data using an Excel file. All three methods are fast to boost your productivity, even for large datasets. All data is encrypted in transit and rest.
Integration is ideal for companies when real-time integration to bookkeeping software is available. This allows you to track your business and financials in real-time. Typically, it takes 3 minutes to connect to riskrate with ten years of history data. If you adjust bookkeeping, refreshing data updates all your numbers at riskrate.
9. Upload financial data using general ledger CSV in seconds
If your bookkeeping software does not provide real-time integrations, upload your general ledger CSV to the riskrate in seconds to run your financial reports with a few clicks.
10. Upload financial data using Excel in seconds
If your bookkeeping software does not offer a general ledger in a CSV format, you can upload Excel / G-Sheets to the riskrate to run your financial reports with a few clicks.
Automate all your financial reporting with riskrate
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