Running and managing a business requires so much time and energy. Because time is one of the most precious commodities we have, it is so important to use it well and to be wise in finding ways to save as much time as possible. Financial reporting of daily activities, monthly summaries, and other reporting can take time. At the same time, it is so clear that these reports are essential to business functions. Wouldn’t it be nice if some of this time could be saved in gathering data and generating reports? This dream is a reality thanks to business intelligence (BI) because BI helps extract essential information from large volumes of data from accounting systems. This greatly enhances efficiency. Let’s take a closer look at many ways Sage business software saves time.
- Intelligent financial reporting enables employees to use time more productively by removing the manual element of data analysis. In turn, this allows for certain expenses or specified data sets to be pulled up in the blink of an eye instead of requiring hours of manual collection and data processing.
- Participating in the day-to-day operations of business can divert attention from overall business objectives and goals which are key to taking business to a whole new level. Financial reporting using BI helps bring staff closer to those goals. Using custom dashboards allows things like slow paying debtors to be identified easily to be sure they are being monitored.
- In an instant, business intelligence allows employees to draw key conclusions from volumes of data. Intelligent financial reporting features found in Sage business software give the flexibility to customize and manipulate reports to make them even easier to analyze and use. It is also possible to make sure your company’s brand identity is adhered to by customizing reports with the same look. The automation of these tasks saves time while also saving the company image from inconsistencies.
- Business intelligence helps create dashboards that assist in product and revenue analysis. This provides the opportunity to drill down on key products that are high revenue generators and to emphasize products and ways to improve those that aren’t selling well.
- Key performance indicators (KPIs) offer so much valuable information, but they can take time to collect. With Sage business software, reporting of these KPIs is made easy by spending less time generating them and more time using the information at your fingertips to have a good idea of where things are at with the business.
As you can see, there are many ways to save time in reporting accurate and relevant data. The nice part is that one-time customizations can be re-used over and over making them even more of time-savers. Ultimately, this allows for more time to focus on business goals and objectives while not compromising the quality or accuracy of the reports at all. Much of this comes from eliminating human error by letting the accounting system do the work for you. In summary, business intelligence improves decision making processes, makes it easy to access and share information, enables analysis in real-time, reduces the chance of creating bottlenecks, and helps identify what might be wasteful or unnecessary. Sage business software offers all of this and so much functionality to help in automating and speeding up reporting. To learn more about business intelligence solutions, visit here. For further assistance, contact us here at Mindover Software. We can help you get your job done while saving you time!
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.