Why Not Business Intelligence?
It’s 4:45 PM on a Friday afternoon. After having put in many hours of hard work this week, you begin thinking of happy hour. Just as you begin dreaming about margaritas, the company’s CEO walks into your office and requests a financial report be exported into Microsoft Excel. The CEO needs the report before she leaves the office, so she can review it over the weekend. Now that happy hour seems like it will only be a distant dream. Since the report will take over 30 minutes to produce, the next hour won’t seem so happy. Ah, the dreaded, last minute financial report!
Just when one might think there is no way out from the limitations of Microsoft Excel and the countless hours of copying and pasting data, one solution comes to mind – Business Intelligence. In order to increase productivity, it’s important to utilize time and resources well, which is exactly what Business Intelligences allows you to do.
Why a Business Intelligence solution is such a critical product:
- This automated financial reporting tool can decipher large amounts of data in real time, which increases productivity by allowing you to focus on other critical tasks.
- Business Intelligence reports can be set up for automated distribution, which means employees within your organization will no longer have to play the waiting game to get their reports.
- A Business intelligence tool can interface with most ERP systems, which allows you to not only access financial data, but also data pertaining to the activities of your Sales, Customer Service, and HR departments. This benefit empowers the decision makers within your company to gain insights into their operation; thus, making better business decisions to maximize your company’s revenue and manage foreseen risks.
Keep in mind that it will still be necessary to use Excel on the front end with some Business Intelligence solutions. However, the environment within Business Intelligence is more organized and less prone to human error. Depending on the size of your company, how many user licenses your company will need and how much involvement your IT Department has in creating these reports, you will need to decide whether an on premise or a cloud-based Business Intelligence solution is the right financial reporting solution for you.
DSD Business Systems will be hosting a webinar on April 9th at 10am PST, featuring three of the top Business Intelligence solutions developed by Sage, BizNet, and FYIsoft (formerly Renovofyi). To learn more about which Business Intelligence solution can fit your company’s needs, REGISTER today for this free event by clicking here.
written by Adrian Lopez, Client Care Advocate at DSD Business Systems
