Financial Statement Analysis Software

Swiftly create, analyze and share accurate financial statements

Name: Real-time Financial Statement Analysis Software - Drivetrain
Brand: Drivetrain
Rating: 4.9 (65 reviews)

Improve your 3-statement model reporting speed, accuracy, and flexibility with a single source of truth for financial and business data.

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Fueling finance teams globally

4.9

Rating by G2 users

Outcomes

Accurate reporting

Get financial & business data that is better organized for easier access, faster analysis and accurate reporting.

Faster analysis & decision-making

Automate creation of financial statements with reduced risk of human error, giving you more time for analysis.

Better workflow & collaboration

Provide stakeholders access to correct information & streamline reporting cycles with less time spent on manual coordination.

Connect reports directly to source data—without IT support

Get complete visibility into business performance with multi-data source consolidation—from ERP, CRM and billing systems to databases, Excel & CSV.

Create and view reports that are always in sync and consistent—numbers are automatically updated when they change in underlying data sources.

Customize your reports—be it pro forma statements such as P&L, or fundraising due diligence and board presentations.

Create detailed variance reports

Access financial & business data to build your statements with a self-serve interface to perform actuals vs. budget and actuals vs. forecast analysis.

Drill-down from summary to transaction data to quickly identify drivers that impact revenue goals and answer follow-up questions.

Automate calculation of key financial ratios relating to liquidity, profitability, debt-to-equity and risk/market valuation.

Best of breed templates help you get started quickly and derive value immediately.

Learn more

Drivetrain is essential to my day-to-day work. I’m able to quickly generate reports from cash flow reporting and P&L reports for the board & by business units to cost control implementation and plan vs. actuals of expenses.

Prince Sharma

Senior Manager, FP&A, FarEye

Ready case study

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Accelerate your reporting process, securely

The most comprehensive access controls, audit trails and email/Slack notifications speeds up your variance analysis process.

Mitigate the risk of manual data entry by dynamically linking your data sources to financial and business statements and reports.

Shorten communication loops between teams with built-in commentary for sharing budget variance explanations.

Discover insights quickly with powerful analysis tools

Use the What-If scenario analysis tool to examine the effects of different financial statement decisions on key financial ratios.

Create interactive dashboards to analyze metric trends by any dimension such as territories, segments, products, etc.

Identify key drivers and anomalies with one-click root cause analysis to optimize revenue, cost, and profitability.

Anticipate and detect deteriorating cash flow quality.

Create accurate financial reports in less time

3-statement model

Create & customize three statement model reports (P&L, balance sheet & cash flow).

Investor & board reporting

Automate creation and sharing of business metrics with the board & investors in real-time.

Ad hoc business reports

Create custom metrics with plain-English formulas & transform them into charts, graphs or tables.

Budget variance analysis

Automated data consolidation for near real-time budget vs. actuals monitoring.

Multi-currency & entity support

Consolidate data from multiple subsidiaries and different currencies to create accurate reports in the desired currency.

Scenario analysis

Powerful What-If analysis and root cause analysis tools help you answer higher-order questions in minutes.

Frequently asked questions

What are the best tools for creating financial statements?

When you begin looking for solutions to streamline financial reporting, you’ll find a lot to choose from. Many financial management tools on the market today offer features that can help you create financial statements. However, given the vast number of options out there, it’s a good idea to start with what you’re already using – your core accounting system or enterprise resource planning (ERP).

These solutions often include templates to facilitate the creation of financial statements that are reasonably easy to use. However, they may not provide all the features you’re looking for.
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A more comprehensive solution that offers the ability to connect to your core accounting software or ERP can provide additional features to level up your financial reporting. For example, financial planning and analysis (FP&A) software can help you:

1. Streamline data consolidation across multiple ERPs
2. Accurately track foreign exchange (FX) gains and losses
3. Create pro forma financial statements to forecast future growth

Similarly, integrating your core accounting software or ERP with cash flow forecasting software can help you build on your current cash flow reporting process with a cash flow forecast that informs financial planning and helps ensure the business has sufficient cash to meet its obligations.

How does Drivetrain facilitate financial statement creation and improve financial reporting?

Drivetrain is a comprehensive FP&A platform with robust financial reporting capabilities. Here are just a few of the ways Drivetrain can help you streamline and improve your processes:

Key features to look for include:

Ability to dynamically link your data sources to financial and business statements and reports for a single source of truth for all your financial data.
Ability to consolidate data from multiple subsidiaries and different currencies to create accurate reports in the desired currency.
Fast and easy creation and customization of three-statement model reports (P&L, balance sheet, and cash flow).
Automated creation and sharing of business metrics for board and investor reporting in real time.

Which ERP and accounting systems does Drivetrain integrate with?

Drivetrain can integrate with any ERP and/or accounting system you use in your business. Currently, our native ERP and accounting integrations include:

Oracle NetSuite
QuickBooks
Xero
Zoho Books
SAP
Sage Intacct

If you don’t see your system here, rest assured, that Drivetrain has you covered with the ability to create custom integrations to seamlessly flow your data into the platform to easily create financial statements and real-time financial reporting.

Ready to start your journey?

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