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Data Integration, Validation and Dashboard

Financial data integration is the process of combining financial information from various sources and systems into a single, unified view. This process is becoming increasingly important for businesses, as it allows for better decision-making, increased efficiency, and improved accuracy in financial reporting.

Consolidating financial data and creating reports is hard enough. However, it means nothing if the data that is being displayed is not accurate. Validating the data must be part of the initial architecture when deciding on a solution. Strategic Innovation Group (SIG) has been using Alteryx because of its ability to perform and automate the data validation when completing data extracts.

Having Functional Subject Matter Experts on the team is also important. They can often act as the second line of defense when identifying data errors on reports. Not all teams have the budget or expertise available. SIG uses a three-step approach to data integration, validation and dashboard accuracy while building out financial data warehouse.

Step 1: Identify the data coming directly from the source and create a custom workflow using Alteryx to complete a count and amounts for each table coming into the data warehouse.

Step 2: Compare the information on the target data warehouse that mimics the tables from the source that will also show counts and amounts for each table. When we integrate the data, we complete the script for each source data to make sure the numbers align.

Step 3 Create a custom workflow that compares the 2 environments and creates an error log along with automated notifications to identify the tables or reports it is affecting.

After completing the data validation process, Using Alteryx Designer and Server, SIG is able to integrate the data confidently and schedule data refresh for real–me data. Allowing for confident financial reports that show the full picture from planning of the project all the way through execution of the funds and tracking of the invoices.

Key reasons why financial data integration is important:

  1. Improved decision-making: When financial data is integrated, it becomes easier to get a complete and accurate picture of the financial health of the organization.
  2. Increased efficiency: Integrating financial data can streamline financial processes, reduce manual data entry, and eliminate the need for duplicate data entry.
  3. Better reporting: Financial data integration can help ensure that financial reports are accurate and up-to date.
  4. Improved forecasting: Integrating financial data can also make it easier to generate forecasts and projections.
  5. Better visibility: When financial data is integrated, it becomes easier to see the big picture.

SIG & Alteryx working together can allow you to use any reporting tool insuring data accuracy and better vision into your business.


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