A niche BI tool that supports the IT agenda – optimising the IT solution for Financial Reporting
CXO Software is typically sponsored by the Finance organization, allowing staff greater simplicity, speed and control during the financial close and reporting process.
In doing so, our niche BI application allows reporting teams to dedicate far more time and focus to high-value activities: analyzing the numbers, telling the story and developing actionable insights.
While any new product brings additional support costs, CXO Software presents clear benefits for the IT agenda. Our software occupies a niche distinct from generic business intelligence tools – one that can enhance an enterprise’s BI architecture, while offering control over end-user development.
Understand exactly how we support the IT agenda.
See things from another perspective
How CXO Software supports the IT agenda
Definitely not just another business intelligence tool
CXO Software provides the same functionality of market-leading tools such as Qlik and Tableau. However, our uniqueness lies in the pre-built intelligence offered by our solution. We do what generic BI tools fail to do: convert data to structures that support the business view, while maintaining metadata from consolidation systems.
More control over end-user development
In contrast with the uncontrolled development of end-user, self-service spreadsheets, CXO Software provides an opportunity to integrate Finance’s own development needs into the organization’s wider IT development processes. This limits the number assigned administrators, while overall control remains within the Finance function.
Enhance the business intelligence architecture
Financial data is rarely integrated in performance reporting because of the data structure clash. CXO Software provides an opportunity to expose financial data in a format that’s meaningful to the business – either by routing reports into accessible database tables, or by querying the staging database provided in some CXO Software implementations.
Tools designed for your needs
Designed for reporting excellence
The key difference between the CXO Software reporting platform and generic BI software? Generic tools expect the source data structures to be designed for reporting. However, financial consolidation systems are designed for input, calculation and processing. Not for reporting. Our software is specifically designed to handle the data structures (OLAP Cubes) and hierarchies. This is essential for excelling in financial reporting, and for visualizing the data in a way that really makes sense.
Simplify the overall IT estate
A financial reporting environment built without CXO Software is likely to depend on a large number of hand-built, independent spreadsheets and BI reports. The creation and maintenance of reports within CXO Software is typically performed by a far smaller group of users, putting a stop to end-user development. The power of the tool allows changes, such as calculation rules and variable names, to disseminate consistently through the entire financial reporting domain.
Leveraging more than financial data
Many BI tools provide clear benefits within the financial reporting environment. However, businesses seeking to gain insight from financial data must somehow link the figures to wider, non-financial activity in the organization. This data is often held within other systems of record, such as customer management, sales, operations, supplies, logistics and HR. CXO Software provides features to integrate data from systems other than Finance – providing a more complete and reliable insight into the company’s performance.
A truly Finance-owned solution
Our reporting software truly is a ‘Finance-owned’ application. Since the launch of our platform in 2007, the Best Practice financial reports of our customers have been gathered, and now come pre-packed with every new installation. Build your own customized reports using CXO-Designer. This enables the reporting team to create, manage and distribute new reports and dashboards with maximum ease and flexibility, without the need for IT support or external consultants.
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