PrecisionPoint solves the operational reporting challenge faced by Dynamics NAV and AX users worldwide
In a major expansion of its product range, PrecisionPoint, the global Business Intelligence Software developer, today announced new BI solutions for Dynamics NAV and AX users PrecisionPoint Focus and PrecisionPoint Connect – to provide direct agile access to key operational metrics and enable an accelerated and smarter financial close. For the first time, organisations can go directly from the Board Summary Level to individual transactions and gain insight across a wide range of elements not previously available on a single report, including General Ledger, Sales Ledger, Purchase Ledger and Inventory Ledger.
The new solutions are designed to address the limitations experienced by Microsoft Dynamics NAV and AX users who often find that their standard financial reports are functional but often too rigid in their format and limited in their scope.
The introduction of PrecisionPoint Focus solves one of the greatest challenges faced by mid-market organisations today, the management of the ‘Close to Report’ (C2R) cycle. Developed by accountants for accountants, the new solution provides relevant data access strategies to meet the changing needs of financial reporting.
It is already in use by a number of companies including NTT Communications, one of the largest telecommunications companies in the world. Aad Schrader, Management Accountant Europe, NTT, estimates the investment in PrecisionPoint has saved upwards of 100 hours per month previously spent by the finance team hand crafting reports, checking and double checking numbers. “Managers can check variance to last month at any time, in any way we want to see the numbers. As a result of being able to check the numbers throughout the month, by country and business unit, any potential problems are immediately raised, ensuring month end figures are already accepted by the business before they are published,” Schrader comments.
PrecisionPoint Connect has been designed to enable the clearest view of the business including sales, product, inventory, financial and customer data in organisations even where there are geographically separate subsidiaries, multiple currencies and consolidation requirements. At the heart of the new solution sits PrecisionPoint Singleview to enable the fast production of ad-hoc reports that are auditable and reconciled exactly to the Financial Reports even when there are multiple-currencies and companies.
Singleview provides a personal BI platform that enables business users to obtain insight across all dimensions of the business without the need to define multiple reports. The dramatic shortening of time frames will allow business users more ‘time to influence’ business decisions rather than just report on them.
“Efficient management of the Close to Report Cycle (C2R) is a barometer of success for the Finance function and it is no longer acceptable to rely on manually driven spreadsheet systems,” comments Michael Evans, CEO, PrecisionPoint. “Best-in-class organisations aim to significantly enhance their service by ensuring they offer speed, transparency, auditability, accuracy and simplicity as a standard and thereby create a solid foundation for performance evaluation and support for better decision making.”
PrecisionPoint software is the most complete BI solution on the market. Used by successful companies worldwide, it enables the building, editing, publishing and distribution of reports with unprecedented levels of automation without specialist technical knowledge.
Oil set for steady gains as economies shake off pandemic blues – Reuters poll
By Sumita Layek and Bharat Gautam
(Reuters) – Oil prices will stage a steady recovery this year as vaccines reach more people and speed an economic revival, with further impetus coming from stimulus and output discipline by top crude producers, a Reuters poll showed on Friday.
The survey of 55 participants forecast Brent crude would average $59.07 per barrel in 2021, up from last month’s $54.47 forecast.
Brent has averaged around $58.80 so far this year.
“Travel and leisure activity look set to catch up to buoyant manufacturing activity due to the mix of stimulus, confidence, vaccines, and more targeted pandemic measures,” said Norbert Ruecker of Julius Baer.
“Against these demand dynamics, the supply side is unlikely to catch up on time, leaving the oil market in tightening mode for months to come.”
Of the 41 respondents who participated in both the February and January polls, 32 raised their forecasts.
Most analysts said the Organization of Petroleum Exporting Countries and allies (OPEC+) may ease current output curbs when they meet on March 4, but would still agree to maintain supply discipline.
“With OPEC+ endeavouring to keep global oil production below demand, inventories should continue falling this year and allow prices to rise further,” said UBS analyst Giovanni Staunovo.
Oil demand was seen growing by 5-7 million barrels per day in 2021, as per the poll.
However, experts said any deterioration in the COVID-19 situation and the possible lifting of U.S. sanctions on Iran could hold back oil’s recovery.
The poll forecast U.S. crude to average $55.93 per barrel in 2021 versus January’s $51.42 consensus.
Analysts expect U.S. production to rise moderately this year, although new measures from U.S. President Joe Biden to tame the oil sector could curb output in the long run.
“A structural shift away from fossil fuels” may prevent oil from returning to the highs of previous decades, said Economist Intelligence Unit analyst Cailin Birch.
(Reporting by Sumita Layek and Bharat Govind Gautam in Bengaluru; Editing by Arpan Varghese, Noah Browning and Barbara Lewis)
Japan’s jobless rate seen up in January due to COVID-19 emergency measures – Reuters poll
TOKYO (Reuters) – Japan’s jobless rate is expected to have edged up in January as service industry businesses suffered renewed restrictions on movement to fight spread of the coronavirus in some areas, including Tokyo, a Reuters poll of economists showed on Friday.
While industrial production activity picked up in Japan, emergency curbs rolled out last month such as asking restaurants to close early and suspending the national travel campaign hurt the jobs market, analysts said.
The nation’s unemployment rate likely rose 3.0% in January, up from 2.9% in December, the poll of 15 economists found.
The jobs-to-applicants ratio, a gauge of the availability of jobs, was seen at 1.06 in January, unchanged from December, but stayed near September’s seven-year low of 1.03, the poll showed.
“As the impact from the coronavirus pandemic prolongs, it is hard for firms, especially the service sector, to expect their business profits to improve,” said Yusuke Shimoda, senior economist at Japan Research Institute.
“So, their willingness to hire employees appear to be subdued and it is difficult to see the jobs market recovering soon.”
Some analysts also said the government’s steps to support employment and existing labour shortages will likely prevent the jobless rate from worsening sharply.
The government will announce the labour market data at 8:30 a.m. Japan time on Tuesday (2330 GMT Monday).
Analysts expect the economy to contract in the current quarter due to the emergency measures to counter the spread of the disease.
(Reporting by Kaori Kaneko; Editing by Simon Cameron-Moore)
China’s economy could grow 8-9% this year from low base in 2020 – central bank adviser
BEIJING (Reuters) – China’s gross domestic product (GDP) could expand 8-9% in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy adviser to the People’s Bank of China, said on Friday.
This speed of recovery would not mean China has returned to a “high-growth” period, said Liu, as it would be from a low base in 2020, when China’s economy grew 2.3%.
Analysts from HSBC this week forecast that China would grow 8.5% this year, leading the global economic recovery from the pandemic.
If 2020 and 2021’s average GDP growth is around 5%, this would be a “not bad” outcome, said Liu, speaking at an online conference.
China is set to release a government work report on March 5 which typically includes a GDP growth target for the year.
Last year’s report did not include one due to uncertainties caused by the coronavirus. Reuters previously reported that 2021’s report will also not set a target.
(Reporting by Gabriel Crossley and Muyu Xu; Editing by Sam Holmes and Ana Nicolaci da Costa)
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