The reality is that all businesses suffer from some sort of issues and challenges that they are working to improve. The difficulty lies not just in truly understanding what these issues are but in also knowing how to solve them. Luckily, this may be easier than you think through the use of business intelligence (BI). Over the past two weeks, we have addressed two common business challenges and how they are solved. The first was the issue of having limited time and knowing how to use it well and save as much of it as possible. Last week, we took a look at how inefficient processes caused by manual data entry can present challenges to businesses and how to solve the manual process dilemma. For more information, visit here. Now, let’s address another common problem and how it can be solved with Sage business software and intelligence.
Problem: Our company’s standard reporting processes are inflexible, and I cannot even get the reports that I want.
Can you relate to this problem of inflexible reporting processes that limit the reports you can create and therefore use? You are not alone. It is hard to get information from multiple sources, and it is even harder to consolidate this information into meaningful reports. The inability to customize standard reports is another challenge because it can, in some cases, require expertise in code in order to achieve the desired reports. This leaves managers and executives left feeling like they must settle for whichever reports they can get even it if means unique organizational data that is needed for key insights is left missing. Thankfully, flexibility in reporting is possible and easier than you might think to achieve!
Solution: Sage business software offers flexibility by empowering users to easily manipulate and distribute necessary information on demand.
Isn’t this good news? Business intelligence offers the flexibility your business needs in the reporting process. This is achieved by using familiar tools that all team members should have the power and capability to use and manipulate in order to create reports with the necessary data. Business intelligence offers functionality simple enough to give all staff members the tools they need to build advanced financial reports. To take it a step further, Sage business software also enables users to drag and drop financial formulas from financial reporting software right into reports.
Business intelligence makes things so easy that graphical tools allow you to model any reporting structure you wish you to use, and you can also switch view to different parts of your organization. With a few clicks, executives and managers are given the ability to control which financial data and information is made available and which is to remain private. Permissions can be established so the chosen data can be accessed by the stakeholders that are chosen to have this ability.
What are some of the financial reporting challenges addressed by Sage business software and intelligent reporting?
- Departmental reporting
- General ledger segmentation
- Project reporting
Reporting is quicker and easier than ever by allowing your business the ability to create multiyear and multi-budget financial reports and present the required level of detail in your reports. It is even possible for financial values to be pre-calculated from the General Ledger and dynamically provided to reports in other programs.
Is it time to for your business to have the ability to choose to leverage ready-to-use reports or build fully customized reports to meet your unique requirements? Do you want to have power and flexibility to analyze data in familiar business applications? It is possible to achieve the flexibility of reporting you need and desire with business intelligence solutions. Learn more about these solutions here.
Contact us here at Mindover Software to learn more about moving from inflexibility to flexibility and from having to only access certain reports to being able to create whatever reports you need. We would be happy to help!
Although they are not the same, big data is another important part of all of this business intelligence. In essence, BI helps you find the answers while big data helps you discover questions you didn’t know you needed answers to.