Are you frustrated with trying to fill the gaps between what business intelligence (BI) tools provide and the actual reporting needs of your finance team?
Do you often resort to dumping data into Excel for manipulation or reporting? You’re not alone—our research has found that 84% of people who work with data rely on spreadsheets for last-mile analysis (including those who have access to BI tools).
Good news! The future of Finance is one step closer thanks to the introduction of Dynamic Kloudio Excel functions.
What are Kloud Functions in Excel?
Kloudio ingests data from multiple sources without the need for data engineering—enabling finance teams to reconcile, cleanse, and merge datasets to produce instantly refreshable reports.
Just like a hyperlink to your source data, Kloudio functions retrieve individual data points directly into Excel spreadsheets, allowing you the freedom to build customized reports for your business and stakeholders. Imagine how many hours you could save with this one simple enhancement.
No more time spent painfully exporting data, using lookups to create relationships, and formatting the reports just to get a draft view of the numbers. Kloudio already automates the exporting, data wrangling, and merging of data sources—and now goes even further to enable you to build your own customized reports in Excel linked to your source data.
How to Use Kloudio Dynamic Functions in Excel
Open your Excel document and log into Kloudio. (If you don’t have the Kloudio Excel add-in, you can get it here. Check out our other Excel add-in recommendations, too.)
In your worksheet, begin typing a Kloud function in any cell, just as you would normally with an Excel function.
From the above screenshot, you can see the structure of the dynamic Kloud formula in the formula box. Similar to an Excel function, the structure of a Kloud function begins with an equal sign (=), followed by the function name (Kloud), an opening parenthesis, the arguments for the function separated by commas, and a closing parenthesis.
Begin by opening the function by typing =Kloud( ).
Within the parenthesis, a Kloud function has the following structure:
- Report Name: The name of the report created in the Kloud.io data portal that you wish to retrieve from
- Required Column: The column field containing the data you wish to retrieve
- Filter 1: The name of the field (row or column) to search in the report
- Filter 1 Value: The matching value to find within that field
- Filter 2: The name of the field (row or column) to search in the report
- Filter 2 Value: The matching value to find within that field
- … and so on
Note that all named variables must be encased within quotations.
In the above example, the Kloud formula aims to retrieve a data point from the Required Column “Value2”, within the Report Name “Qtr_Act”, where Account Parent is Revenue and Fiscal Quarter is Q120.
Kloud functions accept static values and cell references as inputs. This makes it an incredibly agile function for report-building. There has never been a more urgent need to be agile, flexible, and responsive in Finance, and there has never been a tool like Kloudio to support Finance in that call-to-action.
Using this single function, any Finance user can retrieve data points from multiple systems to easily produce refreshable reports, metrics, dashboards, or calculations. Create a free Kloudio account to see how the platform can ease your financial reporting workload.