Datarails
Datarails is an AI-powered financial planning and analysis (FP&A) platform that automates financial reporting and planning while allowing finance teams to continue using familiar Excel spreadsheets.
https://datarails.com/
Product Information
Updated:12/11/2024
What is Datarails
Datarails is a New York-based software company founded in 2015 that provides an FP&A solution for Excel users. It aims to streamline financial operations by automating time-consuming manual processes like data consolidation, reporting, and analysis. Datarails integrates with popular accounting software, ERPs, and CRMs to bring all financial data into one place, while still allowing finance professionals to work within their familiar Excel environment.
Key Features of Datarails
Datarails is an AI-powered FP&A software solution that enhances Excel functionality for finance teams. It automates data consolidation, financial reporting, budgeting, forecasting, and scenario modeling while allowing users to continue working in their familiar Excel environment. The platform integrates with various accounting software, ERPs, and CRMs to provide a unified view of financial data, and offers AI-driven insights, data visualization, and storytelling capabilities.
Excel Integration: Allows users to keep working in Excel while leveraging advanced FP&A capabilities, providing familiarity and flexibility.
AI-Powered FP&A Genius: Offers conversational AI on real financial data to provide quick answers to complex questions based on consolidated information.
Automated Data Consolidation: Integrates data from various sources like ERPs, CRMs, and accounting software to provide a single source of truth.
Interactive Dashboards and Visualizations: Enables creation of visual representations of financial data for easier analysis and stakeholder communication.
AI Storyboards: Uses AI to automatically transform complex financial data into engaging presentations and narratives.
Use Cases of Datarails
Financial Reporting and Monthly Close: Streamlines the preparation of financial statements and automates repetitive tasks in the monthly close process.
Budgeting and Forecasting: Facilitates collaborative budgeting processes and enables data-driven forecasting for informed decision-making.
Scenario Modeling: Allows finance teams to model various financial scenarios to prepare for multiple possible futures and evaluate potential outcomes.
Executive Reporting: Creates visually appealing dashboards and presentations for effective communication with stakeholders and management.
Pros
Familiar Excel-based interface reduces learning curve
AI-powered features enhance productivity and insight generation
Comprehensive integration capabilities with existing systems
Flexible and customizable to meet specific business needs
Cons
May be primarily suited for Excel users, potentially limiting adoption for non-Excel based teams
Some features reported to not work as expected, leading to potential user confusion
Pricing may be higher compared to some alternatives, starting at $24,000 per year according to user reports
How to Use Datarails
Sign up for a Datarails account: Create a Datarails account by going to their website and clicking 'Sign Up'. Enter your details and create a password following their rules (at least 8 characters, 1 lowercase, 1 uppercase, 1 special character).
Download and install the Datarails Excel add-in: Download the Datarails add-in for Excel to connect your spreadsheets to the Datarails platform.
Connect your data sources: Integrate Datarails with your accounting software, ERP, CRM, and other data systems to consolidate all your financial data in one place.
Set up your financial models in Excel: Create or import your existing Excel financial models and spreadsheets. Datarails allows you to keep working in your familiar Excel environment.
Automate data consolidation: Use Datarails to automatically collect and consolidate data from across your organization into your Excel models.
Create reports and dashboards: Utilize Datarails' built-in visualization tools to create custom dashboards and reports showing key financial metrics and KPIs.
Perform financial analysis: Leverage the consolidated data to conduct deeper financial analysis, forecasting, budgeting, and scenario modeling within Excel.
Use AI-powered features: Take advantage of Datarails' AI capabilities like FP&A Genius for quick insights and Storyboards to automatically generate presentations from your data.
Collaborate with team members: Share dashboards and reports with other teams to enable data-driven decision making across the organization.
Maintain and update: Regularly refresh your data connections and update your models as needed. Datarails will automatically consolidate the latest data.
Datarails FAQs
Datarails is a financial planning and analysis (FP&A) software platform that automates financial reporting and planning while allowing finance teams to continue using familiar Excel spreadsheets and models.
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Analytics of Datarails Website
Datarails Traffic & Rankings
178.1K
Monthly Visits
#284186
Global Rank
#2192
Category Rank
Traffic Trends: May 2024-Oct 2024
Datarails User Insights
00:01:17
Avg. Visit DTabsNavuration
1.95
Pages Per Visit
51.11%
User Bounce Rate
Top Regions of Datarails
US: 32.45%
GB: 9.27%
CA: 6.48%
IN: 4.33%
IT: 2.46%
Others: 45%
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