Flexing your Financial Chops

In our latest Monarch release, we've prioritized the addition and customization of expanded financial fields. This upgrade aims to enable users to work more efficiently.

Our new FlexFields bring more flexibility and customization. Moving beyond the standard ten fields, media companies can now tailor their financial reporting to meet their specific needs. This results in financial analysis that's more precise and relevant to their business context.

Moreover, having more financial fields available enhances budgeting and forecasting. Media companies can now link additional fields, like 'zone,' directly to their revenue. This allows setting budgets and forecasts based on more detailed parameters, leading to more accurate and valuable business strategies.

For those using Dayparts and New Business fields in their Traffic System, they can start leveraging FlexFields as follows:

• Dayparts: We recommend you connect Dayparts to Booked and Pending dollars and then expose them on the deal details. This will enable you to forecast against them much like you would an Outlet or Revenue Type.
• New Business: We often hear feedback from customers that want to use their own definition of new business and not what is pre-defined by the system. FlexFields makes this a reality by mapping to Booked and Pending dollars, again, to use your already defined New Business definition from Traffic.

In summary, expanded financial fields improve overall financial management. The enhanced detail in financial data means businesses can make decisions based on a comprehensive understanding of their financial situation. This leads to better decision-making processes and more favorable financial outcomes.

To discuss how to best leverage this new functionality in Monarch, contact your Success Manager today.