VRT, a leading media company in Belgium, needed a reporting tool to create a single source of truth for their finances. Thanks to Xplore Group’s competence center Cloubis, they now have a streamlined process and real-time visibility into key metrics.
VRT operates in a dynamic and highly competitive media landscape, where accurate financial reporting is crucial. The reporting processes at VRT proved to be time-consuming and error-prone due to lots of manual work. Recognizing the need for a modern solution, VRT needed a partner. Cloubis’s briefing was clear: to process the financial data via the data lake without any manual steps, and connect it to Power BI to arrive at an enterprise grade reporting solution.
VRT faced several challenges in their financial reporting processes that needed tackling:
Time-consuming manual data consolidation: VRT’s finance team had to gather data from multiple sources manually, leading to delays and potential errors in reporting.
Lack of real-time visibility: The absence of a centralised reporting system made it difficult for stakeholders to access up-to-date financial insights promptly.
Limited data visualisation capabilities: The existing reporting tools at VRT lacked the ability to generate visually appealing and interactive reports, hindering effective data communication.
- The different users and stakeholders all have their own interests and financial data they need to have access to.
The goal was to capture these various interests into a single report. To achieve this, Cloubis designed the report to be interactive, with multiple layers through which the user can navigate. Specific KPI’s are shown in a dashboard for a more general overview. And lastly, automated notification triggers were set up to notify users if certain thresholds should be exceeded.
VRT needed a partner who could help streamline their financial reporting services and create a single source of truth. Allowing for meetings to to be about the actual numbers rather than their accuracy.
Cloubis used Power BI’s to create an enterprise grade reporting solution with several layers, answering to the needs of each different stakeholder.
The implementation of Power BI empowered VRT’s finance department with streamlined processes, real-time visibility, and interactive reporting capabilities, ultimately contributing to improved communication and decision-making at VRT.
The next step is to expand the current data model to allow for other specific reporting (such as P&L), or to combine it with data from other data models (such as HR or content).