ProfitStars® Forecasting and Financial Reporting℠
Financial institutions (FIs) historically operate from simplistic budget planning systems such as Excel® spreadsheets, but these require manually intensive effort to maintain and build forecasting projections. As your institution grows, your needs increase. This is especially true in the ever-changing regulatory environment where true financial management is evolving with the inclusion of risk management analytics. What if you could simplify the strategic planning process and forecast the balance sheet more effectively?
Forecasting and Financial Reporting (FFR), part of the Financial Performance Suite, is an ideal solution for institutions in need of a comprehensive and flexible budgeting system. Working with FFR, you can:
- Utilize files transferred from any core operating system to do top-down, bottom-up, or combination budgeting.
- Build various what-if models to test and compare projections with various scenarios.
- Convert your forecasted model of choice to an operating budget.
- Gain a forward view of balance sheet risk management through future integration of CECL category loss rates into your projection module.
- Improve security through a hosted solution that eliminates the need for extra staff.
Financial reporting shouldn’t be a time-consuming, tedious chore.
Using FFR, you gain the tools to create effective standard, custom, and color graph reports with less work. A report grouping tool then makes it easy to automatically update customized financial report packets for distribution.