Reimagine Accounting Processes With Planful Solution Hub

Planful Solution Hub is a resource library for exploring best practices and pre-built workflows to improve accounting processes. Through interactive demos and detailed insights, Solution Hub helps teams discover how advanced solutions can address challenges and unlock new opportunities.

Accounting teams face growing complexity in their workflows, from managing consolidations and reconciliations to delivering accurate, timely insights for decision-makers. That’s where Solution Hub comes in, providing access to a library of interactive demos that showcase how Planful’s advanced solutions can simplify processes, reduce inefficiencies, and drive measurable results.

Let’s explore how Solution Hub works as a discovery platform and highlight three examples of how it helps accounting teams reimagine their workflows and boost productivity.

Read more: Planful Solution Hub: Your Go-To Resource for Financial Performance Management

Planful Solution Hub isn’t a solution itself—it’s a resource library designed to help accounting teams discover best practices and workflows to help them drive improved efficiency and accuracy. Through interactive demos, Solution Hub lets teams explore how Planful’s platform can address specific challenges and deliver results.

These pre-built solutions address common challenges, such as managing financial consolidation processes, automating balance sheet reconciliations, and improving financial reporting. The result is reduced manual workloads, fewer errors, and greater consistency across financial tasks.

Solution Hub offers a broad range of industry- and function-specific financial performance management solutions that are pre-built and customizable for accounting, finance, marketing, HR, and many other areas.

Planful experts and our experienced partners design these solutions to address common challenges for industry-specific needs, such as SaaS revenue planning, healthcare provider revenue forecasting, and annual marketing planning. Solution Hub enables organizations to accelerate growth through better processes.

You’ll also find this resource library covers industry-specific needs, including:

• Provider healthcare revenue planning
• SaaS target bookings revenue
• Demand-driven manufacturing & production planning

This breadth of financial performance management expertise and capabilities gives you the power to accelerate, improve, and drive growth through better financial processes.

Best of all, the solutions are fully integrated with the Planful platform, allowing for seamless implementation and immediate impact.

Solutions on Solution Hub are valuable due to their ability to scale and adapt to unique organizational requirements.

Accounting teams no longer need to build complex workflows from scratch or rely on disparate tools that lack cohesion. Instead, they can tap into a library of proven solutions created with best practices in mind. This saves time and effort and enables teams to focus on higher-value tasks, such as analyzing financial trends and driving strategic decision-making.

Let’s look at three of the most commonly explored solutions tailored for accounting teams of all sizes.

1. Financial consolidation: Automate your close, reduce risk, and report faster

Inefficiencies often bog down traditional financial consolidation and close processes. Manual workflows, disconnected spreadsheets, and siloed data lead to misaligned entity general ledger structures and complex currency conversions, contributing to bottlenecks, errors, and delays.

Adding to the complexity, email-driven collaboration frequently results in miscommunication and duplicated efforts, making it hard to maintain accuracy and consistency.

Planful’s financial consolidation solution simplifies these challenges by offering accounting teams a comprehensive view of the close and consolidation process. This allows teams to identify and overcome roadblocks that slow cycles.

When it comes time to generate monthly report packages, the solution also automates the creation of financial statements and reports for your internal and external reporting so accurate results quickly reach decision-makers. The result is a faster, more accurate consolidation process that empowers accounting teams to focus on strategic priorities rather than firefighting operational inefficiencies.

Planful’s financial consolidation solution adds even more value by:

• Automating data loads, validation processes, eliminations, and recurring journal entries.
• Easing collaboration with the business through intuitive data analysis and easy-to-implement workflows that drive more meaningful conversations.
• Providing a single source of truth for increased trust in the data and integration of multiple charts of accounts.

Explore the interactive demo: Planful’s Financial Consolidation Solution

2. ESG performance and initiatives management: Gain clear insights into your environmental, social, and governance efforts

Tracking and managing environmental, social, and governance (ESG) initiatives can place a significant burden on accounting teams. From data collection to reporting, these tasks are often time-consuming and complex.

Solution Hub’s ESG performance and initiatives management solution shows how accounting teams can simplify and automate these processes with Planful, enabling teams to evaluate progress and provide timely insights to business leaders.

Planful’s ESG solution provides comprehensive tools to manage and track environmental, social, and governance initiatives, offering:

• Comprehensive emission tracking: Covers stationary and mobile combustion, electricity usage, heating, cooling, and supply chain emissions for a holistic carbon footprint view.
• Advanced scenario planning: Includes carbon hierarchy analysis and detailed planning tools to develop actionable sustainability strategies.
• Built-in driver monitoring: Tracks factors influencing emissions across entities, plants, and mission types.
• Offset analysis: Evaluates avoidance and replacement offsets to assess the impact of changes in rates and initiatives.
• Impact visualizations: Creates polished reports and dashboards to present the financial results of emission programs and ESG initiatives clearly and effectively.

Explore the interactive demo: Planful’s ESG Performance and Initiatives Management Solution

3. Financial reporting: Simplify complex reporting processes, boost accuracy and flexibility

Accounting teams require a structured yet adaptable framework for creating accurate and comprehensive financial reports tailored to the needs of external regulators and internal decision-makers.

That’s a tall order, especially when building and delivering financial reports using spreadsheets and email-driven processes.

Planful’s financial reporting solution simplifies these challenges by centralizing data into a single source of truth, ensuring consistency and compliance while increasing reporting speed.

With Planful’s financial reporting solution, you can explore:

• Substitution variables: Dynamic placeholders that easily allow users to adjust parameters like periods or dimensions automatically, enabling teams to update reports instantly.
• Drag-and-drop customization: Easily create tailored views and scenarios for any report or situation.
• Drill-down capabilities: Analyze financial data at any level, from high-level summaries to invoice-specific details.
• Automated reporting: Build and distribute reports directly from the Planful system in minutes with real-time data and minimal manual effort.
• Regulatory compliance: Ensure seamless adherence to standards like US GAAP and IFRS.

Planful’s financial reporting solution further allows you to use built-in variance analysis capabilities and dynamic commentary to collaborate with teammates directly in the Planful system.

Explore the interactive demo: Planful’s Financial Reporting Solution

The best part about Solution Hub? Anyone can browse the library of resources to explore what’s possible with Planful.

For accounting teams, Solution Hub hosts demos of scalable workflows to simplify processes, save time, and reduce errors. From financial consolidations to ESG reporting and beyond, Solution Hub empowers teams to reimagine stronger workflows and re-focus on strategic priorities.

Solution Hub is the perfect starting point for exploring Planful for the first time or expanding your use of the platform.

Visit Planful Solution Hub to find solutions tailored to your team’s needs and transform your accounting processes.