This article is sponsored by DataRails.
Mangum’s Inc. provides transport services including towing, heavy transport including a truck shop, as well as a tire/road service. With so many different divisions and services, they were utilizing two different QuickBooks software types to manage all of their various financial activities.
Difficulties:
Hours of manual labor were required to consolidate the financial information from Mangum’s Inc’s multiple data sources. The information from QuickBooks was exported into excel spreadsheets and then reconciled which required manual inputs. Afterward, the department would go through hours of editing to ensure accuracy and prepare the information to be used throughout the company. This process also meant that generating reports became a lengthy endeavor that was only done when required.
Solution:
When Larry, Mangum’s Inc’s CFO found DataRails, it was no doubt the answer to his reporting dilemma. Mangum’s exported all relevant information into excel spreadsheets which were easily uploaded and now are instantly updated onto the DataRails platform. This provided a means of instant version comparisons, report generation, and more through one interactive and consolidated platform. Now with only having to rely on one source for information Mangum’s is able to enjoy more flexibility in their budgeting process and the ability to forecast more accurately for the future.
“Like a 180 degree change [with DataRails]... much more flexibility and brings a completely different look and feel to the budget.”
Outcome:
By incorporating DataRails’ FP&A solution, Mangum’s Inc is able to ge t a 360-degree view of their data instantly. Management can see trends with the click of their mouse and Larry’s department is saving over 15 hours a week on tedious, manual processes. They enjoy insights into their numbers like never before and enjoy the flexibility their tailored FP&A solution brings to their department. These changes have been felt across the company with management now enjoying in-depth interactive charts and graphs tailored to their specific needs.
Finally enjoy the benefits of your new consolidated, interactive platform and bring your outdated processes into the 21st century - never having to leave your current interface. Sign-up for DataRails’ FP&A solution today.