Getting Started
Introduction
In the context of a Financial Planning and Analysis (FP&A) platform, stories can be defined as narratives or visual representations that provide a comprehensive and easily understandable overview of financial data, insights, and trends. They are designed to convey key financial information in a compelling and storytelling format to facilitate decision-making and communicate financial performance effectively.
Overall, stories within an FP&A platform aim to transform complex financial data into compelling narratives, empowering users to understand, analyze, and communicate financial insights effectively.
Stories can be build in a variety of scenarios, from managing personal finances to complex data analysis for businesses.
Some examples for Stories
Financial planning - for Individual
Imagine a story where a young professional decides to take control of their finances. They create an Excel spreadsheet to track their income, expenses, and savings goals. By analyzing their spending habits and setting a budget, they successfully pay off debt and start saving for long-term goals like buying a house or planning for retirement.
Business Analysis - Retail Company to optimize Inventory management.
Excel is widely used in businesses for data analysis and reporting. Let's say a retail company wants to optimize their inventory management. They collect sales data from various stores and suppliers, import it into Excel, and use pivot tables and charts to analyze sales patterns, identify popular products, and optimize stock levels. This analysis helps them reduce costs, increase efficiency, and improve customer satisfaction.
Financial Forecasting for a Startup
A startup company is looking to secure funding from investors. They create a financial forecast in Excel, including projected revenues, expenses, and cash flows over a specific period. By using formulas and functions to calculate growth rates, cost projections, and profitability ratios, they present a comprehensive financial analysis to potential investors. This helps them demonstrate the viability of their business model and secure the necessary funding.
Consolidation of Financial Statements
A multinational corporation with subsidiaries in different countries needs to consolidate financial statements for reporting purposes. They collect individual financial statements from each subsidiary, import them into Excel, and use functions and formulas to consolidate the data. By summing up revenues, expenses, assets, and liabilities across subsidiaries, they create a consolidated financial statement that provides an accurate overview of the corporation's financial position. This helps stakeholders understand the overall performance of the organization and make informed decisions.
Types of Stories in JustPerform
In JustPerform user has the flexibility to create stories using either web interface i.e the JustPerform web platform or using the familiar excel interface. . Along with tabular representation of data, JustPerform allows for user to create dynamic visuals within the platform to facilitate data analysis.
Excel Addin Stories
JustPerform allows users to create stories on underlying data using the JustPerform office 365 connector, which is an excel add-in. This add-in provides user with the flexibility to create input sheets and reports on the go. These stories can be shared locally. The familiar excel interface makes these stories a favored choice among excel users.
Snippet - Web based Stories
These stories can be created on the JustPerform platform using Snippets. Snippets can be used to input data as well as view data as reports. They can be Public, meaning authorized user can view them or Private, where only the creator can access them. These stories can be exported as excel sheets.
Boards
Boards are place used to collectivity display reports, inputs as well as visuals along with additional information. They are a dynamic way of displaying a complete data story. Boards can contain Snippets and visuals as well as editable text and images. User can the flexibility to reorder, arrange and modify board objects. The viewer of the board can update selections and view data in real time as well as update and save data.
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