January 17, 2011Doug Hadden
Aldo Segastume, FreeBalance Director New Product Development, described the reporting and analytics features in Version 7 of the FreeBalance Accountability Suite. He provided an overview of reporting needs by role and described how these could be satisfied with Version 7.
Mr. Segastume emphasized the need for ease of use in report creation. He described the parameters used to create built-in reports. FreeBalance currently supports over 300 reports with Version 7, ad-hoc reporting and On-Line Analytical Processing (OLAP). Reports can be exported to numerous file formats.
Management reporting to assist decision-making is a key government requirement, according to Mr. Segastume. He described the use of the FreeBalance Data Mart to enable analysis based on the country context.
Mr. Segastume concluded his presentation by describing best practices in business intelligence. He also pointed out that Version 7, recently introduced, now has 50% more built-in reports than Version 6. He demonstrated the built-in reports with flexible query capabilities. He then demonstrated the On-Line Analytical Processing (OLAP) tool including drill down and drill up and integration with macroeconomic data. Mr. Segastume described how the flexible Chart of Accounts in the FreeBalance Accountability Suite acts as a multi-dimensional database. Scenario planning with what-if analysis is also supported by the tool. He demonstrated graphical tools. Mr. Segastume described how the FreeBalance multiple year Chart of Accounts is supported through reporting.
The annual FreeBalance International Steering Committee (FISC) conference runs from January 16 – 19, 2011 in Madeira, Portugal. FISC provides an interactive forum to exchange Public Financial Management (PFM) good practices among international customers and PFM thought leaders. FISC drives the FreeBalance Accountability Suiteproduct vision to direct FreeBalance GRP solutions. Previous FISC events were held in Mt. Tremblant, Canada (2010); Prague, Czech Republic (2009); Cascais, Portugal (2008); and London, United Kingdom (2007).