Use case: A monthly reporting package

This use case describes how to use the Report Binder feature to create an automated, recurring set of reports.

The business problem

In today's business environment, there are many different users of financial reports with different emphases. When you create a formal reporting package, it might, for example, be a combination of:

  • Excel spreadsheets
  • Word documents
  • Other formats from a different program

In most cases though, some information needs to be in a different format to convey the necessary message to the target audience. For example:

  • The board of directors would like to know the rationale behind a marketing campaign. Thus, it is necessary for the reporting package to contain a Word document.
  • At the same time, most directors do not like to open many different documents for different information. Consequently, it is necessary for all information to be in one electronic copy.

Another issue is security of information, as certain personnel are entitled to certain portions of information. For example, department heads should see the departmental income statement for their respective departments only, yet this requirement can be time-consuming because the income statement needs to be duplicated specifically for each department.

Typically one person puts all these different pieces of information together each time, on a monthly basis. Not only is this time-consuming and a poor use of human capital, it also causes a problem when this individual when goes on vacation or leaves the company unexpectedly.

The solution

You can create formal reports by using report binders.

Report binders are used to do the following:

  • When prompted, generate a distribution file (PDF, PowerPoint, Excel, or Word) and send it through email.
  • Specify, through distribution lists, which users receive emails containing the report.
  • Stipulate, through the security settings which users are entitled to what information, such as data pertaining to specific departments or accounts.

The benefits

Some advantages of this solution include the following:

  • A single document

    All the separate documents combine into one reporting package.

  • Multiple document types

    A report binder can include reports as well as external documents such as Word and Excel files.

  • Customized distribution

    Each reporting package has its own distribution list; thus it is easy to customize which users get what reporting package, with minimal manual setup.

    For example, the working capital reporting package will be emailed to the bank managers, whereas the reporting package for the Board of Directors goes only to the board members.

  • Automatic data security

    A single report is generated but the security settings are such that users only see what they are permitted to.

    For example, only one income statement is output but the marketing director only receives the results for her department, and so on for the other directors.

  • Flexible security

    Optionally, you can add password protection to a report binder, as well as making it read-only.

  • Fast setup and can be automated

    Report Binder is easy to use and can be automated to produce repetitive reports.

How it's done

For example, you want to include the following documents in the Monthly Directors Reporting Package:

Document

Format

Summary from Management

Microsoft Word (external file)

Sales Details

Microsoft Excel (external file)

Financial Statements

Template Report (FP&A Plus)

This monthly reporting package is emailed to the Directors of the Sales and Accounting Departments, Owinfrey and Twoods respectively. The flow of information and steps in FP&A Plus are as follows:

  1. On the desktop, gather the external files (Microsoft Word and Excel files).
  2. In FP&A Plus, copy the external files to Document Explorer.
  3. In Report Binder, set up a report binder to include the Word and Excel files, along with a report template
  4. In Report Binder, add security settings, including a password.
  5. In Report Binder, set up the distribution list.
  6. In Process Manager, create a Report Binder process, add the report binder, and schedule the process.

You copy all the external files into FP&A Plus and then email them as one attachment, along with the financial reports from FP&A Plus. With the security setting in place, only one set of financial statements is attached, yet Owinfrey only receives the information for the Sales Department and Twoods for the Accounting Department. The security and user setup is done only once, thus this monthly email process can be automated in Process Manger. This way, even if the administrator is away on holiday, the monthly report is still emailed on time.

  1. Select > Report Binder.

  2. In the Content tab, add the documents, such as reports (that is, FP&A Plus template reports).

     Note:  To add external documents, they must already be in FP&A Plus (you can import them at any time through Document Explorer).

  3. If the users have not already been assigned their data privileges, do so in Security Manager.
  4. In the Distribution List tab, add the users who are to receive the report.
  5. Save the report binder.
  6. To set up monthly distribution, open Process Manager and insert a Report Binder process.
  7. Add the report binder to the process.
  8. Save the process and schedule it to run monthly.