Why CFOs Prefer EMASPHERE to a BI Solution

Why CFOs choose EMASPHERE over a BI solution to digitalize their reporting.

9 out of 10 CFOs will invest in digitalization in 2023, according to the latest study by PwC and DFCG. That raises the question of choosing the right solution, but which one? We decided to compare BI tools with an EPM, that is, enterprise performance management software. 

Choosing the right financial reporting solution will be one of the challenges facing finance directors in 2023. CFOs are dealing with several realities: 

• inflation remains enemy no. 1, 

• digitalization is becoming a top priority for 9 out of 10 CFOs 

• and the need for powerful simulation and forecasting tools has never been greater, given the current uncertainty.

The figures from the PwC and DFCG study, which we summarized last January, speak for themselves: nearly half of the finance directors surveyed are dissatisfied with their forecasting and simulation tools. 

So it is inevitable: in 2023, adopting an automated reporting tool is no longer a luxury but a necessity. Which type of solution should you turn to?

BI tools: a good or bad idea?

Business Intelligence (BI) refers to decision-support technology that lets finance directors analyze their business and draw conclusions to manage it better. BI tools certainly have many strengths. In particular, BI solutions offer customizable dashboards, enable data visualization and are compatible with a wide range of software. However, this type of tool has its limits: 

• Costly implementation and maintenance
• Building "from a blank page". BI software does not offer templates or a catalog of preconfigured KPIs
• Analysis of past data only 
• No finance-specific features such as management consolidation, forecasting, cash management, etc.

The Qualifio example 

Since an example is worth a thousand words, let's look at Qualifio, the platform dedicated to engaging and qualifying digital audiences. This start-up, founded in 2011, had to cope with hypergrowth. Its finance director, Sam Boribon, therefore needed to find a suitable reporting solution. 

Qualifio originally relied on a BI solution that quickly showed its limits in terms of agility, ease of use and connectivity: 

• a restrictive reporting solution

• report updates that depended on an external consultant

• data access limited to the finance function

All that was before Qualifio decided to adopt EMASPHERE: "We used to use a BI solution. Every time we needed new reports, we had to go through a consultant. We switched to EMASPHERE so that I could take control of the tool and build the reports myself," explains Sam Boribon, Finance Manager at Qualifio.

He continues: "EMASPHERE is really an ideal tool for interpreting your figures. It gives you a true overview of your performance without any manual work. And it also makes discussions easier with the various managers who handle their own budgets."

10 reasons to adopt EMASPHERE

EMASPHERE is the reporting platform for finance directors who want to save time and avoid mistakes. It is in fact an EPM, that is, enterprise performance management software. EPM covers budgeting, forecasting and financial management. It provides data analytics, reporting and forecast modeling features. Their purpose is to help companies analyze, understand and plan their business strategically.

The EMASPHERE solution was created in 2015 by a former finance director, for finance professionals. Its promise? To solve your problems: feeling under pressure, spending  too much time collecting data, eliminating repetitive tasks and reporting errors... The solution also has many advantages, which we summarize here: 

• A preconfigured data model
• A catalog of more than 200 ready-to-use performance indicators
• Faster implementation than BI solutions
• A less expensive solution
• A solution connected to the accounting software you already use
• Financial features built into the tool (cash management, forecasting, etc.)

• Consolidated reporting that handles intercompany transactions for companies made up of several entities
• The ability to run forecasts and simulations, unlike BI 
• Reports that are easy to update in-house after a one-day training session: no IT skills required. EMASPHERE users stay autonomous in how they use the platform.
• Tailored access rights for each manager 

The verdict: a BI tool or EMASPHERE? 

In conclusion, CFOs are facing a difficult economic climate, threatening inflation and an accelerating digital transformation. 

In this context, automated reporting tools have become a must. Although there are many Business Intelligence solutions on the market, they have limitations in terms of cost, their focus on past data and their lack of finance-specific features. 

EMASPHERE, by contrast, is a single automated financial reporting platform that offers many advantages, including faster implementation, a preconfigured data model and a catalog of more than 200 ready-to-use performance indicators. 

EMASPHERE is enterprise performance management software designed to meet the needs of finance directors. It helps companies analyze, understand and plan their business strategically. As a result, EMASPHERE is the ideal solution for CFOs looking for a powerful automated reporting tool tailored to their specific needs.