What is Financial Analytics Software and Why It Matters
Financial analytics software is a tool to enable businesses to track, analyze, interpret, and act on financial data insights. By turning raw numbers into actionable insights, financial analytics software plays a critical role in helping modern finance teams forecast trends, optimize budgets, make better money-related decisions, and ultimately, drive profitability.
A robust financial analytics software can consolidate data from multiple sources, allowing finance teams to create reports in no time, drill down into transactional details, and foresee performance metrics.
At a time when as many as 90% of finance leaders prioritize data-backed business decisions, having the right financial analytics software is essential for sound financial strategy in any organization.
Why a Robust Financial Analytics Software Matters
Simply put, accurate, fast, and comprehensive financial insights can make or break strategic growth. Financial analytics software can either drive your organization toward financial success—or leave it vulnerable to missed opportunities.
Whether you’re trying to reduce operational risks, manage cash flow, or improve compliance, financial analytics software equips companies with the tools and technologies they need to make better, smarter, and faster decisions.
Common Pain Points Solved by Modern Tools like GL Connect
- Accuracy and efficiency in financial reporting
- Productivity loss due to steep learning curves when switching from Excel
- Lack of integration with critical data sources like Oracle EBS, Fusion Cloud, or external databases
- Slow, manual data transformation – especially for hierarchies and reporting structures
- Limited or no scheduling and automation of report distribution
- Absence of drillable trial balance reports and inbuilt templates
These inefficiencies increase dependence on IT and slow down financial decision-making. But solid financial analytics software addresses these challenges head-on. Let’s see how.
10 Reasons Why Fortune 500 Companies Prefer GL Connect Over Competitors
Financial analytics software is a competitive space. Yet, many Fortune 500 companies choose GL Connect to simplify, streamline, and enhance their reporting processes. Here’s why:
1. Excel-Based Reporting
Since over 80% of finance professionals still use Excel, GL Connect meets them where they are. Its seamless Excel integration means faster adoption, lower training costs, and highly efficient report generation.
2. HMF Hierarchy Converter for Oracle EBS
Unlike competitors, GL Connect includes a powerful HMF Hierarchy Converter tailored to Oracle EBS. It simplifies data transformation, enabling faster, more accurate hierarchy management and reporting.
3. Multi-Source Data Access
GL Connect doesn’t stop at Oracle EBS and Fusion Cloud. It also connects to external data sources—offering a unified, flexible, and scalable analytics platform for finance teams.
4. Parent-Level Report Display + Drilldown
While many tools show parent-level data, GL Connect enhances this with drill-down functionality—accessible directly in Excel—empowering finance teams with deeper insights.
5. Custom Hierarchies in Excel
GL Connect allows finance teams to create and adjust data hierarchies within Excel, without IT help. This boosts autonomy and saves valuable time for both finance and IT teams.
6. Prebuilt Drillable Trial Balance Reports
GL Connect offers pre-configured drillable trial balance content—letting finance users navigate from summaries to granular details in just a few clicks. Competitors lack this built-in functionality.
7. Report Scheduling and Distribution
Automate and schedule report delivery with GL Connect. This feature streamlines workflows and ensures stakeholders receive timely updates—without manual effort.
8. No IT Dependence for Report Creation
Finance teams can independently build, edit, and manage custom reports, drastically reducing reliance on IT and speeding up the financial reporting lifecycle.
9. Prebuilt Financial Statement Templates
GL Connect comes with ready-to-use financial statement templates, reducing setup time and minimizing errors. Competing tools often require templates to be built from scratch.
10. Offline Report Distribution via Excel
GL Connect allows users to share financial reports offline through Excel. This ensures decision-makers have access to critical financial data—even without direct system access. Most competitors do not offer this functionality.
Why Fortune 500 Companies Trust GL Connect
Top-performing companies choose tools that improve efficiency, accuracy, and flexibility. GL Connect checks all these boxes. It empowers finance teams to operate at peak performance—with less friction and more impact.
Ready to Empower Your Finance Team with GL Connect?
To stay competitive, you need the right tools. GL Connect is the financial analytics software of choice for organizations of all sizes—especially Fortune 500 firms—thanks to its unmatched usability, functionality, and performance.
From Excel-based interfaces to automated scheduling and drillable reports, GL Connect helps finance teams:
- Save time
- Reduce errors
- Operate more strategically
- Drive better profitability
Want to see why leading companies trust GL Connect?
Book a demo today and discover how GL Connect can elevate your finance function to new heights.
