Imagine being a finance leader trapped in a world where your team spends more time wrestling with spreadsheets than actually driving strategic insights. Sound familiar?
The financial landscape is evolving at breakneck speed. Gone are the days when finance was just about crunching numbers and filing reports. Today, you're expected to be a strategic powerhouse – anticipating market shifts, managing regulatory labyrinths, and transforming raw data into actionable business intelligence.
The real cost of status quo
Consider the stark reality facing finance leaders today:
Regulatory landscapes are constantly shifting
Budgets are tightening
Skilled professionals are scarce
Compliance risks are mounting
According to a recent survey by Alteryx, spreadsheets are the most commonly used tools in finance for tasks like data visualization, statistical analysis, and automation. While they can be handy for basic financial tracking, spreadsheets have their downsides, especially when it comes to scalability, data integrity, and automation. Gartner's research supports this, showing that 54% of finance departments still struggle to deliver reliable data and reports that stakeholders need for informed business decisions.
Spreadsheets simply aren’t built to handle large data volumes or complex financial scenarios. Trying to manage extensive financial transactions or intricate models in spreadsheets can lead to mistakes and performance issues.
Choosing the right tool
In this context, Alteryx offers a different approach to addressing the day-to-day data challenges finance teams encounter. And unlike many tools, Alteryx is easy for business users without an IT background to use.
What is Alteryx? A user-friendly data analytics tool, that enables seamless data preparation, blending, and analysis. Its intuitive drag-and-drop interface enhances efficiency and accuracy, making it accessible across various departments without the necessity for coding expertise.
With a user-friendly interface that feels more like a collaborative workspace than a technical platform, it allows business users to navigate data preparation, blending, and analysis without getting lost in coding complexities.
Alteryx & Keyrus: Three case studies
Let's move from abstract challenges to concrete solutions! As Alteryx Premium Partners, Keyrus have implemented the tool to help teams as yours to optimise their resources, enabling them to allocate time and budget more strategically.
1. PDF Processing Revolution
A UK accounting firm faced a potential 100-200% increase in manual data processing due to new legislation. Their challenge? Extracting data from thousands of remittance PDFs without ballooning operational costs or headcount.
Solution: Using Alteryx Intelligence Suite with Optical Character Recognition (OCR), they:
Automated PDF data extraction
Implemented automatic validation checks
Processed invoices with minimal human intervention
Maintained service quality without increasing staff
2. Analytical Review Reinvention
A statutory accounting team was drowning in manual Excel-based analytical reviews. A process that once took over an hour per entity was transformed into a repeatable workflow that runs in seconds.
Key Outcomes:
Standardized process
Freed up time for high-value analysis
Dramatically reduced manual error risks
3. General Ledger Reconciliation
Monthly reconciliation – once a repetitive, error-prone manual task – became a scalable, automated workflow that:
Replicates existing reconciliation processes
Adds enhanced checking mechanisms
Flags discrepancies automatically
Allows teams to focus on investigating reconciling items
See for yourself: Join our free 2-hour Alteryx workshop
Join our on-demand workshop to explore the three key finance use cases previously discussed and discover how you can save time and cut costs with solutions starting from £13/day.
Don't miss out! Your next strategic move starts here.