The FloQast Analytics tab has received some key enhancements to help your team better track and analyze your Close Progress!
1. The 'Current Close' and 'Retrospective' tabs have been combined to a single tab called 'Close Progress.'
A key improvement here is the ability to see the current month in addition to the current close month. Previously, the 'Current Close' tab showed June for the duration of the July calendar month, July for the duration of August, and so on. 'Current Close' will still be the default view, but the current month is now accessible so you can view pre-close items and begin planning next month's close!
2. Speaking of pre-close, these pre-close items are now visible on your Sign-Off progress graph. Items with a pre-close deadline will show up on the x-axis as negative days, as pictured below:
3. A new Close Forecast has been added to each Entity-view on the Analytics page as well:
Each entity will have a donut-shaped progress bar that shows the Close Progress for the selected month. This percentage is calculated based on the number of sign-offs completed/number of sign-offs required.
The possible status result for the current close are: On Track, Running Late, and Early
The possible status results for previous months include: Closed - On Track, Closed - Late, Closed - Early, and Incomplete (aka not closed yet)
- The Target Close Date is determined by your latest due date within the chosen entity.
- The Target Days-to-Close is based on your latest due date and your selection of Business Days vs. Calendar Days within the chosen entity.
- The Actual Close Date is a projected date that FloQast calculates based on the number of sign-offs completed so far, based on the the number of sign-offs outstanding. The sign-offs/day are extrapolated to arrive at a projected date when you will hit 100%.
- The Actual Days-to-Close is a projected count that is similarly based on the number of sign-offs completed so far, based on the the number of sign-offs outstanding. The sign-offs/day are extrapolated to arrive at a projected number of business/calendar days (based on your calendar settings) when you will hit 100%.