In this article, we will focus on the power of the drill-down function in your reporting solution.
Has your department made a large transaction and nobody was able to figure out what the money was spent on? This is where a drill-down feature in your reporting will help you. Drill-down allows the end user to see details of the transactions the user is reporting from. As the size of your organization continues to grow, the feature can help you in digesting your reports. This will help each department run their own reports and drill down on, for example, expenses to explore how and where their money was spent.
There are many benefits when it comes to having a flexible drill-down feature built into your corporate performance management (CPM) system. For example, drill-down features give users a micro view of their company data without having to access the accounting system. Let’s say your Controller has requested a thorough explanation of each transaction your department made, and the departmental head could not remember what your team purchased. How is he/she going to explain it to the controller? In a modern solution, a user can add comments to each line item to reduce the need to explain it to other managers in the future. In this case, the department head will be able to remember your department’s transactions. This will be explained in the comment section of the report for the accounting team to see. Without a modern CPM solution, most likely an accountant would talk to the department head regarding certain company spending. This leaves room for confusion, stress, and potential issues.
This functionality enables you as a user to be proactive and run a report yourself and drill down without the assistance of your controller. End users are able to digest reports and get to a desired level of detail they need without feeling overwhelmed by too much information. This is why good drill-down in reports is very beneficial for your organization, especially your company is growing. Reviewing your finances can be complicated and repetitive, but with features such as the drill-down and the drill across, it doesn’t seem so bad. Features such as drill-down can make your reporting processes a lot easier and more enjoyable.
To continue learning about good drill-down in reporting,