Use Case

Accrual Automation

 

Accrual accounting tracks non-cash business activities, such as future liabilities and revenue based on credit, for a more accurate picture of company finances. But it often relies on data from hard-to-find sources and increases the amount of information reported on accounting statements. The improved accuracy also comes at the cost of labor-intensive processes for collecting accruals across the company.

Efficiency Gains

Eliminate labor-intensive spreadsheet models and hours of redundant work

Top-Line Growth

Decrease the amount of data you export and keep your system organized

Bottom-Line Returns

Save time with quick forecast buildouts and accurate results

 

Business Problem

Under accrual accounting, your business records revenue before receiving payment and records expenses before paying for them. Accruals enhance the picture you have of your financial situation by drawing on more data from more sources. But they create work for your accounting teams: collecting accruals, understanding how to report them accurately, evaluating their effect on taxes, including them in reconciliations and maintaining an audit trail.

Alteryx Solution

By automating the collection and organization of accounting data, analytics reduce the labor-intensive work of managing accruals. Automation shortens the time required to calculate and verify accruals, such that they can be posted and reported more frequently; for example, monthly instead of quarterly. Benefits include greater consistency, higher-quality financial information and a smooth path to compliance with Sarbanes-Oxley.

With Alteryx, you can:

  • Connect to multiple data sources and import accrued transactions
  • Replace spreadsheet models with automated analytics
  • Build forecasts and validate results

Alteryx Office of Finance Starter Kit Demo

 

Recommended Resources

 
Report
Nucleus Research – Alteryx Highlights AI and ROI at Inspire 2023
At Alteryx Inspire 2023, Alteryx announced various new and extended capabilities to improve its value proposition for certain users or use-cases. This includes expanded cloud platform experiences, cloud-based Location Intelligence for spatial analytics, integrated generative AI capabilities with Alteryx AiDIN, and the Alteryx Maveryx user community.
  • Analytics Maturity
  • Company
  • Analyst
Read Now
 
Customer Story
Health Care Program Advisors Builds Actionable Models with Snowflake, Alteryx, and Tableau
A boutique healthcare consulting firm uses modern analytics tools to provide advisory services to its clients.
  • Alteryx Designer
  • Alteryx Server
  • Healthcare & Insurance
Read Now
 
Report
Enable Data and Analytics Innovation for an Era of Perpetual Uncertainty
Fueled by intense and rapid political, environmental, social, and technological change: organizations face a new era of perpetual uncertainty.
  • Analytics Leader
  • Risk Reduction
  • Workforce Upskilling
Read Now