{"id":101964,"date":"2025-02-21T18:45:26","date_gmt":"2025-02-21T18:45:26","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/investing\/three-reasons-no-code-analytics-is-the-future-of-accounting-advisory-services\/"},"modified":"2025-02-21T18:45:26","modified_gmt":"2025-02-21T18:45:26","slug":"three-reasons-no-code-analytics-is-the-future-of-accounting-advisory-services","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=101964","title":{"rendered":"Three reasons no-code analytics is the future of accounting advisory services"},"content":{"rendered":"


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There are three main benefits to using no-code analytics with clients rather than report tools or traditional financial statements:<\/p>\n

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  1. \n

    Provide clients with financial updates in a language they understand<\/p>\n<\/li>\n

  2. \n

    No-code analytics is interactive and customizable<\/p>\n<\/li>\n

  3. \n

    It incorporates operational data to tie financial data back to day-to-day initiatives<\/p>\n<\/li>\n<\/ol>\n

    Let\u2019s take a look at each.<\/p>\n

    Providing financial updates in a language they understand<\/h2>\n

    In nearly every scenario viewing time-series data is better than in a tabular format. This is because time series data makes it easy to spot trends, and acting from identified trends is how business owners succeed.\u00a0<\/p>\n

    Monthly financial reports aren\u2019t typically the best format to identify trends. No-code analytics helps you to build trendlines from key data points that the business owner is concerned about.<\/p>\n

    Speaking an operational language<\/strong>\u00a0<\/p>\n

    Balance sheet line items don\u2019t speak to an executive, but debt ratios do. That\u2019s because ratios and KPIs are a much more succinct way to communicate what\u2019s happening in the business.<\/p>\n

    Our operating expense went up, but how does that compare to revenue? Should I care? An OPEX ratio would be much more fitting here.<\/p>\n

    How is our ability to pay down our debt changing over time? Let’s monitor our liquidity ratios.<\/p>\n

    Are COGS increasing with revenues? Why not look at Gross Profit Margin?<\/p>\n

    We spent twice as much on ads this month – how did our acquisition cost fare?<\/p>\n

    It\u2019s not hard to see how much more information you can convey using KPIs and basic ratios instead of financial statements. View those ratios and KPIs over a time-series and you\u2019re cooking with gas.<\/p>\n

    Not familiar with financial KPIs? We put together an exhaustive list here of 156 financial KPIs for every accountant or bookkeeper:<\/p>\n<\/div>\n