Datarails Introduction
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.
View MoreWhat 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.
How does Datarails work?
Datarails works by connecting to various data sources and automatically consolidating financial information into a centralized platform. Users can continue working in Excel with full functionality, while Datarails handles data aggregation, version control, and automated reporting in the background. The platform offers features like AI-powered analytics, data visualization tools, and scenario modeling capabilities. It also includes 'Storyboards', an AI tool that can automatically generate visual presentations from dashboard data. For ad-hoc analysis, Datarails provides an AI-powered FP&A Genius that can answer finance-related questions based on the consolidated data.
Benefits of Datarails
By using Datarails, finance teams can significantly reduce the time spent on manual data collection and consolidation, allowing more focus on strategic analysis. The platform improves data accuracy and provides real-time insights, enabling faster and more informed decision-making. Its integration with Excel means minimal disruption to existing workflows and a short learning curve. The AI-powered features like quick answers to finance queries and automated presentation creation further enhance productivity. Additionally, Datarails offers improved collaboration, better version control, and the ability to easily create visual representations of financial data for stakeholders.
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