Automating Finance Analysis: Reallocate your Time to What Matters
Overcome manual data aggregation and eliminate error by using KNIME in FP&A, Controlling, Treasury, Tax, Audit, and Compliance
Too busy to improve
Finance and Business Analysts are expected to provide data based insights and guidance for where the company is heading. Unfortunately, they often don't have the time for analyzing and making sense of the data. Instead, they are busy getting data in shape that are fragmented, inconsistent, and from many sources.
Too critical to fail
As "Score Keepers", there's no room for errors – it’s about the company’s value and compliance – which puts a lot of manual work for revising the numbers on top of the manual work already invested in patching them together. Transparency, auditability, and quality control of results are base requirements.
Data Aggregation and Automation with KNIME
KNIME provides solutions for FP&A teams to repeatedly aggregate data for reports, insights, and audit. The extremely flexible, no-code visual workflows allow safe access to the right level of complexity.
Finance Analysts get a no-code software that automates their repetitive tasks and makes data more reliable and more insightful – much more quickly.
Finance Managers see their teams becoming significantly more productive, motivated, and enabled to generate reports faster, deeper insights, and better forecasts.
Shared Services such as Centres of Excellence, IT, and Business Consultants are able to provide packaged solutions that the Finance Teams can use without further technical expert support.
KNIME for Finance in Action
How Finance Built their own Reporting and Dashboarding Suite using KNIME
Bringing KNIME, PowerBI, and Microsoft Teams together for automated financial reporting and saving thousands in commercial licenses per year.
Finance Process Centralization with KNIME
Automating financial cost accruals based on multiple business rules and saving 5 weeks per year.
Get started with KNIME Solution Blueprints
These blueprints can be used not only as solution starters but also to get an idea about the capabilities of KNIME.
Advancing from data aggregation and preparation, more complex blueprints are available too, for example for cash flow prediction, fraud detection, and automated credit approvals. All of these workflows and components can be customized without limitation and used freely in KNIME Analytics Platform.View Blueprints
Use KNIME to Enhance your Existing Environment
Excel, SAP, and Other Data Sources
Visual, replicable workflows replace macros and manual copy / pasting. Access and combine any kind of data source. Automate data cleansing and reporting.
BI Tools (Power BI, Tableau, …)
Get your data in shape with KNIME and use it directly in your BI tool, based on the same workflow. No licence needed for free data preparation.
Visual Workflow Data Analytics Platform
Are you already using a visual data workbench? Then evaluate replacing it with KNIME and you get powerful data wrangling, no limits in users and data rows, and access to advanced text mining and ML.
The Transformation of Finance Anaylsis
The journey of maturing Finance Analysis is different for every organization and usually starts where the pain is biggest ... spreadsheets. But there shouldn't be any limits in where you go by the choice of tools. With KNIME, data analysis will grow limitlessly with the task at hand: unlimited automation, data, and data sources, connect with any 3rd party systems, full flexibility in execution, plus the solutions and techniques to solve even the most advanced challenges in planning, forecasting, and strategy.
KNIME for Finance Analysis
Sleep Friendly – Automation
No more manual Copy ... Paste ... Check ...
Data gathering from any data source
Data cleansing, with manual interference and overwriting where required
Automated completion of custom reports, tax statements, payables, …
Exactly the same data prep can be used together with BI tools
Compliance Friendly – Visual workflows
“We are building our plans based on the correct data, right?”
Based on visual workflows: every step is transparent and self-documenting
Never lose the transactional level of detail: keep the overview and drill down whenever needed
Predictable and repeatable: workflow be used to prove compliant handling of data
Easy to teach new users, easy to use with externals
Future Friendly - Open
Prepared for every stage
Unlimited users, unlimited rows, unlimited functionality
Free blueprints and custom solutions - from data handling to advanced methods
One platform to collaborate with coders, finance experts, and business
No limitation to scaling
IT Friendly - Enterprise Grade
The software that complements your IT setup
One concept, integrated complementary packages
Runs on Linux, iOS, Windows
IT can approve and distribute packaged functionality but isn't needed for the day to day work
Flexibly adapting to enterprise IT needs