Seeking a holistic view of your spending, budget, and regional fiscal health? Meet Open Finance and Insights Dashboard, the newest tools in the Financial Insights Solution, helping you proactively act on complex fiscal problems and communicate your financial plans.
Financial data can often be challenging and jargon-heavy for individuals who don’t spend their days working within budget or finance offices. Even knowing that budget and spending information come from two different departments is not something your average citizen may be aware of.
To help your citizens discover the information they are looking for more quickly and easily, Open Finance provides the “one-stop-shop” landing page for all financial data. As an administrator of multiple Financial Insights applications (such as Open Budget, Open Expenditures, and Open Payroll), you can now create a single homepage experience to not only provide an easy search experience across all your financial data, but also present a unified overview of how your organization is performing from both the budgeting and spending perspective.
Your users can now come to one place to understand what money is being spent, how that fits with the current budget, and then drill into a specific application as desired.
If you currently use two or more of the Financial Insights applications and would like to set up your Open Finance site, please reach out to your Customer Success Manager or firstname.lastname@example.org so we can get you started with everything you’ll need!
While the Open Budget and Open Expenditures applications allow you to drill deep into a single jurisdiction’s data, the Insights Dashboard helps you explore, analyze, and benchmark regional budgetary and expenditure data across many jurisdictions. Built to handle complicated financial monitoring programs, Insights Dashboard is an early warning system enabling proactive actions for complex fiscal problems.
Starting with a high-level overview of all sub-jurisdictions, such as counties, towns, and villages, users can quickly compare a jurisdiction’s financial health with those around it, and then drill into a single jurisdiction to learn more about their budget and spending trends.
Furthermore, each jurisdiction's financial health data can be normalized and ranked, so you can quickly see how each jurisdiction it performing relative to its peers. These insights can help you prioritize resources for areas that might need further analysis and assistance, as well as highlight areas that are performing well and could serve as examples for others.