CFO Meet Mosaic! The Things to Look for in Finance Software

Introduction

If you’re an aspiring CFO, then I have no doubt that as you’re reading this, you will have a lot of corporate responsibilities. In fact the role of Chief Financial Officer has become so complex and responsibilities so wide ranging that you like anyone, would want to make their responsibilities easier. 

Any corporate department today is almost always using an online software platform. The finance department today should be no exception. A finance platform will integrate all information that you need. 

There are quite a few choices on the market today. You may not know what to look out for. That is why I have some advice on things you would like your software to have. Mosaic Finance appears to have it all. 

Budgeting Features

This may be pretty obvious, but it still is a point worth mentioning. Any Financial service platform must have features that enable you not just to see data statistics, but should have specific budgeting tools. 

One of the great things that Mosaic provides in its finance software is the ability to see where your budgets are holding and to show you budget forecasts. Its tools will also make recommendations on how over budget accounts can be improved.  

KPI Dashboard

So, let’s talk about a KPI Dashboard. KPI stands for ‘Key Performance Indicator’. The role of CFO is to be able to immediately give a board of directors instantaneous statistics on how well the company is performing at any one time. 

A KPI dashboard is what you should see when you access your financial software. It will be the page from which you will navigate through every one of your company’s financial details. The dashboard is the control room. You will want to see all statistics for your firm on the front page. 

Once again, this may sound like a pretty obvious requirement but any good financial software platform will have a KPI dashboard that will be easy to understand and to inform financial strategies as quickly as possible. Mosaic’s KPI dashboard is easy to understand and easy to interpret. 

Integrated Tools for other Platforms

This feature is really what distinguishes Mosaic’s platform from the majority of others on the market. As you look at the health of your company’s finances from across departments, you will find that information is spread across numerous spreadsheets. Some of these are incomplete, or at different stages. 

If these departments are using specific platforms, whether for Billing or Sales, Mosaic will take statistics from these and insert them into its own. You will literally have access to all departmental information at once. 

Financial Analytics

This is really why I like Mosaic so much. This is the one area where Mosaic really shines in managing your finance department. One of Mosaic’s invaluable benefits are the Metrics it provides. Metrics are a variety of graphs that reflect all statistics in a variety of ways. This is incredibly useful.  

Mosaic refers to it as an ‘Analysis Canvas’. You can monitor performance and then share it with specific team members. It’s very similar to how one would share a google spreadsheet, with options for members to view or edit. 

These are just little pearls of wisdom that will help you decide which finance software to go for. Make sure that you’re always keeping budgeting, KPI indicators and easy to interpret analytics in mind!  

Brett Rumbak is one of our diligent and widely read content writers. He is working for La Dolce Studio. Whilst having a background in managing Amazon ads, he loves Ancient History, Politics and sampling Hamburger restaurants in the Middle East!