FAQ2022-10-18T10:59:47+02:00

FAQ

FAQ

Frequently asked questions

We have gathered some of the most frequent asked question here. If you cannot find the answer here, please contact us.

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General

How about updated data?2022-08-16T11:03:41+02:00

You will get real-time updated data, so that you always have a fresh here-and-now overview

Are there requirements for technical skills?2022-08-10T11:38:05+02:00

We provide you with a self-service solution where you easily can update the structure around companies, dimensions, accounts, currency and business rules

What are the prices?2022-08-16T11:04:23+02:00

We have an intuitive and transparent pricing model based on the size and complexity of your business. The price consists of a monthly subscription and an implementation fee. Not any loose project estimates.

How long does it take to implement?2022-08-15T09:13:23+02:00

It is workshop-based course over a few weeks, not months or years

Does it fit with all business intelligence tools?2022-08-16T11:04:54+02:00

We already use Power BI – can I keep it? Yes, our platform gives you a complete data set that you can use in all common BI tools – and of course Excel – so you have easy access to data, analyzes and dashboards and can utilize the investment you have already made in BI.

Do you integrate with ERP and other business systems?2022-08-16T11:05:18+02:00

Yes, both classic on-premise databases and cloud-based APIs. Pretty much applies to all solutions on the market – Whether you have Business Central, Dynamics365, SAP, IFS, Visma or something else

Where does Solitwork have offices?2022-08-16T11:06:47+02:00

We cover the whole country with offices in Aarhus, Vejle and Copenhagen. And since January 2022 we also have an office in Hamburg

What sets Solitwork apart from others?2022-08-16T11:07:14+02:00

We understand both business, finance and data. Best practice standards, many years of experience gathered in software, short implementation time, competitive prices, end-to-end platform on data, self-service solution, strong collaboration model

What can Solitwork do?2022-08-16T11:07:44+02:00

We help ambitious customers to automate their reporting, consolidation, budgets and forecasting in a unified and user-friendly platform, so that they always have up-to-date insight into their data and avoid time-consuming and complex spreadsheets.

Data & Analytics

What are the leading analytics tools?2022-08-16T08:44:41+02:00

The most recognized tools in the market are Microsoft Power BI, Tableau, and Qlik Sense supported by countless user reviews and professional research firms. 

How do I structure my data analytics project?2022-08-16T08:44:05+02:00

First, you need to know the company’s needs for reporting and analysis. Where can insight into data give support better decisions and improved processes. 

The data perspective comes next. What should your architecture be like, what technology should you choose and how should data be structured so that it supports the business needs. 

Data and insights need to get out to the users for you to be successful. Which tools can best support those needs? 

When you have control over data and tools targeted at the users’ needs, you must have anchored the solutions in the organization. This is where the changes and the value happen. 

Is data analytics difficult?2022-08-16T08:40:19+02:00

You must have the right architecture, understand raw data and business applications, the company’s processes and needs to be able to put perspective on data. How can data help the company’s employees make better decisions and improve processes. It often makes sense to put people with relevant skills together. You will never find one person who knows how to clarify the needs of the business, build the technical solutions and anchor the finished product with the users. 

Who uses data analytics?2022-08-15T15:44:11+02:00

All companies leverage reporting across their organization. Could be reporting across financial and sales performance, customer profitability, inventory, staff, projects or business operations. Modern analytics tools make it easy to find, structure and share insight across the organization in real-time, supporting better decision making for everyone. 

What is the best analytics tool?2022-08-15T15:39:03+02:00

Solitwork has a longstanding relationship with Microsoft. Leveraging the Microsoft BI stack has for years, and years been considered the leading technology choice in the analytics world. With Microsoft’s cloud Azure, SQL, Power BI and Power Platform capabilities easily integrated you have almost unlimited options supporting your analytics platform. 

Is Excel a data analytics tool?2022-08-15T15:35:44+02:00

Many companies rely on spreadsheets to provide data for reporting and analysis. Whilst you can create beautiful reports and data visualizations in Excel it’s not recommended as an enterprise analytics tool due to poor security, ability to handle large volumes of data, development speed and robustness in formulas.  

What is the purpose of data analytics?2022-08-16T10:59:06+02:00

The purpose is to better identify trends and patterns in facts and data to support better decision making and valuable initiatives across the enterprise.

What is data analytics?2022-08-16T11:01:10+02:00

Data & Analytics is a range of tools to help you structure and analyze different business data to help make informed and fact-based decisions. 

ESG

Can ESG calculate CO2?2022-08-15T09:44:15+02:00

Yes – it is an integral part of AFC ESG to calculate CO2 according to the principles of GHG Protocol.

What are the main features of AFC ESG?2022-08-15T09:43:24+02:00

AFC ESG is a platform to collect, structure, and report ESG data. The platform secures that ESG data is treated with same quality and care as financial data. Data can be collected with high frequency up to real time. The platform allows for internal management reporting and continuous monitoring as well as the possibility to drill-down in underlying data. Calculation of CO2 and ESG KPIs is an integral part of the platform.

How long time does it take to implement AFC ESG?2022-08-15T09:42:38+02:00

AFC ESG can be implemented in 2-3 months depending on the availability of data and resources, as well as the complexity of the organisation.

Why is ESG important?2022-08-15T09:41:58+02:00

ESG is about being a good corporate citizen and about doing what is right from a long-term perspective. We can and must all contribute – whether we are individuals, companies or public authorities.

Can I get ESG data automated?2022-08-15T09:41:18+02:00

Yes. Solitwork have developed a ESG solution. We offer a practical and digitalized solution to collect and report your ESG data. Our module provides you with a unique opportunity to collect, measure, create a digital audit trail and analyze ESG data. Contact us today to hear more, or download our webinar here: Get started with ESG: Webinar – Solitwork

What is ESG?2022-08-15T09:38:12+02:00

ESG stands for: Environmental, Social, Governance. All Companies are met with increased regulatory requirements to report on ESG and to commit to actions that will reduce their climate related impact.

Planning

Can AI improve forecasting?2022-08-16T08:58:57+02:00

Predictive machine learning can help automate your forecasting process, making time-consuming data collection obsolete, and at the same time enrich data with more detail and accuracy. Instead of an overall revenue forecast, machine learning can leverage historical data, trends and patterns to deliver forecasts.

How do you improve financial planning?2022-08-16T08:57:18+02:00

Financial planning is about predicting future development and outcome across your business. Using advanced machine learning can help you automate your collection process and ensure you have detailed and precise predictions on e.g. sales, margin contribution or stock .

How do I manage rolling forecasts?2022-08-16T08:56:30+02:00

Instead of a traditional budget, a rolling forecast is a continues process where you always look e.g. 12 months ahead and continuously get uptodate insights from your business.

What is benefit of an Planning system?2022-08-16T08:49:23+02:00

Planning tools help finance professionals combine and structure their financial data, operational data and external data, to run analysis fast and efficiently than with spreadsheets. All to provide fast and accurate business insights and predictions to support better decisions 

What is Planning?2022-08-16T08:48:32+02:00

Financial Planning and Analysis covers the process of planning, forecasting, budgeting and analysis to support companies’ business decisions and overall financial health.  

Consolidation

How do I implement a solution for financial consolidation?2022-08-16T08:47:19+02:00

The implementation varies from solution to solution and largely depends on the company’s requirements and complexity. At Solitwork, solutions are implemented over 6-8 weeks with few intense workshops. In this way, it can easily be implemented in parallel with other tasks in the finance team. 

What makes financial consolidation complicated?2022-08-16T08:46:30+02:00

Collecting and aligning data across different entities is hard and time-consuming. Taking into account elements with capital shares, exchange rates, depreciation on goodwill and investments or tax is necessary to provide financial statements.  

What is financial consolidation?2022-08-16T08:45:47+02:00

Financial consolidation is the process of combining financial data from several business entities and rolling it up to a parent company to provide group financial statements and reporting. 

Want to hear even more about how we can rethink your digital finance?

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