At Jirav, our goal is to simplify financial planning and execution by helping you understand where your business has been and predict where it is going. We are particularly excited for our first formal Jirav Product Update, where we'll highlight all the new ways we deliver smarter financials and faster insights to our customers.
Over the past few months we've worked tirelessly to release the following new key capabilities within the app and more:
- Executive Summary & Financial Reports
- Variances Everywhere
- Bookings Actuals
Executive Summary & Financial Reports
A critical planning-process deliverable for every organization is a high-level Executive Summary. This output quickly gives stakeholders a comprehensive view of the entire business in one place including both financial and non-financial metrics. The Jirav Executive Summary is designed specifically for wide organizational consumption and we have made it super easy for you to customize the output and match the specific use cases of the business.
One such customization is Report Groups that lets you highlight the line items that you want your audience to focus on while removing other unnecessary detail. Jirav takes care of making sure that the numbers always add up while you can focus on the story that you want to tell. In addition to the Executive Summary, Jirav now also includes fully detailed Income Statement and Balance Sheet reports that span both the Actuals and the Plan (Forecast) periods.
Variances EverywhereOur recent addition of variances to the Jirav Reporting Engine lets you now compare Plan vs Actuals, Plan vs Plan, and more, on any report. You can also highlight both $ (dollar) variances, as well as % (percentage) variances and we expect to have more formatting and other visual updates soon (e.g., highlight favorable and unfavorable variances, variance charts, etc.)
Bookings ActualsJirav has a full Revenue Recognition engine built in and we now support importing the entire backlog of Actual Bookings directly from Salesforce or from a different CRM using an Excel import.
Jirav creates Revenue Recognition schedules for Actuals and propagates them forward into the Plan period. It also handles customizations on each individual booking, such as Revenue Start Dates, Billing Start Dates, Custom Sale Prices, and more, while applying assumptions on Churn, Inflow, and Outflow from the model into the future.
Drivers tie the model together, enabling a few core assumptions—combined with actuals in unique ways—to forecast the business. Jirav now supports most of the common driver-based use cases right out of the box and we will continue to add more advanced drivers and modeling capabilities to cover more sophisticated scenarios.
You can now drive COGS and OpEx using sources such as Headcount, Bookings, or even other Expenses. Similarly you can drive Bookings based on marketing spend, Headcount, or even other Bookings. You can also Allocate expenses from one department and account to another department and account using fixed ratios or in proportion of headcount by department.