4 reasons why more than 2,500 organizations worldwide rely on Jedox
- "If you use Excel, you will appreciate Jedox"
Unified – Intelligent – Agile – Excel friendly
xP&A: A performance management solution to control your entire value chain
The purpose of classic FP&A (financial planning and analysis) solutions is to support controlling processes in the finance department. Typical areas are the mapping of the P&L, balance sheet and cash flow statement as well as the monetary linking of adjacent processes, for example, sales and cost planning as well as investment and financing.
In a global business environment, however, corporate controlling solely from the financial perspective is no longer sufficient. In order to be able to act quickly, financial changes or impacts must be able to be linked to the underlying operational processes and drivers in order to understand, measure and control the long term success of the organization. More recently, this evolution from financial planning and analysis to any number of departments across the organization has become known as xP&A.
Jedox is an ideal xP&A platform due to its unique flexibility and scalability. While numerous planning solutions on the market achieve only the integration of operational and financial data by linking less flexible, ready-made solutions with platform products that can be modelled, Jedox avoids this rigidity. This enables a seamless mapping of operational processes and their financial implications in a unified process.
For users, this means:
- faster access to relevant information,
- less complexity,
- more consistency
- and ultimately improved holistic management of the company.
AIssisted™ Planning: Artificial intelligence as a helping hand in corporate management
Digital transformation and artificial intelligence are the buzzwords of an entire generation, and for good reason. Within Enterprise Performance Management there is no shortage of studies, whitepapers, pilot projects, and concepts. But when you leave the research lab and seek out tested and effective AI-supported solutions, a few things become clear. Jedox is one of the few EPM solutions on the market where AI and machine learning are already integrated into the performance management platform in a way that is both approachable and suitable for business users.
Jedox AIssisted™ Planning supports, among other things, in better preparing your data for analysis in making more accurate forecasts (e.g. identification of value drivers and development of driver-based planning models), or in identifying unique customer trends for greater performance optimization. And all of this is done without needing specialized Data Scientists to support your enterprise performance management
Think Big, Start Small, Execute Quickly: Step-by-step with measurable benefits
The day-to-day reality for organizations and the technical possibilities of modern Enterprise Performance Management solutions are often worlds apart. In many organizations the handling of manual, error-prone and often Excel-based planning and forecasting processes is still prevalent. On the other hand, there is the vision of fully integrated, AI-based performance management solutions that help finance departments to better fulfill their role as business partners who can optimize value creation.
The problem is often how to get there: While numerous, often heavily prefabricated FP&A solutions offer quick success in eliminating spreadsheet chaos, these systems often reach their limits when you leave the prefabricated solution environment. There are also highly functional performance management suites.
Often these have grown together over many years through the integration of various specialty tools into more complex solutions. Their implementation is usually lengthy, complex and expensive.
With the Jedox solution you get the best of both worlds:
- The lightweight solution architecture enables you to achieve success in days instead of weeks.
- Old Excel solutions can often be easily converted into automated FP&A solutions.
- The unrivaled flexibility of Jedox allows you to easily expand to integrated xP&A.
- The AIssisted™ Planning functionalities support the step-by-step expansion to continuous performance management.
Excel+: Eliminate the disadvantages of Excel without losing the advantages
For more than 20 years, numerous industry experts and analysts have been predicting that Excel will be replaced by performance management solutions as a planning tool for organizations. But reality has proven different: Studies confirm again and again that approximately 80% of organizations are still reliant on Excel for their budgeting, planning, and forecasting.
The reasons for this are simple: Excel remains the de facto standard for self-service performance management: users can quickly, cost effectively and independently conduct their budgeting, planning, and forecasting, and, if necessary, adapt just as easily and quickly to changes. At the same time, however, the disadvantages of Excel are unavoidable: prone to errors, time-consuming, do not meet modern data security and compliance standards, and often become simply unmaintainable over time.
The Excel+ philosophy has guided Jedox since its foundation: To eliminate the disadvantages without losing the advantages. The Jedox solution offers a powerful native Excel integration in addition to the Jedox Web and mobile applications.
But the compatibility goes much further: Existing Excel solutions can easily be transferred to Jedox Web and mobile applications. The functional scope of Jedox is designed so that business users can still work in an Excel environment if they desire and avoid the problems.
Here are some examples:
- With the in-memory database, local data storage can be avoided – redundancies, data security and compliance are no longer a problem
- Rigid columns and row structures in Excel sheets can optimized to let the data lead the way.
- Calculation formulas do not have to be defined in countless cells, but only once centrally at the database level
The Jedox solution allows users across the organization to work in Excel effortlessly if they prefer and design their own custom, sophisticated performance management solutions with minimal learning time if that option best suits their organization. The FP&A of yesterday fully evolves to xP&A to support optimizing value creation with unrivaled flexibility.
Thousands of companies have already chosen Jedox!
We offer the opportunity to try Jedox for free – Our consultants are always ready with instructions for using the Jedox software or ready to answer any question you might have.
