Using Business Intelligence to Gain a Competitive Advantage in 2022
Does your business truly understand the unique stories that the data you collect every day tells you about what has happened, what is happening, what could happen, and what is yet to happen? Many businesses find it hard to zero in on the causes of declined productivity, rising costs or slow growth are. There are many analytical tools available for free and at a premium, but many require integration. With BI capabilities native to your ERP system, you get real-time diagnostics on operational issues, simplified trend identification, and agility to act in time for opportunities. In this guide, we discuss using Business Intelligence to gain a competitive advantage in 2022.
ERP Native Advanced Reporting
An ERP system with advanced analytics capabilities offers access to customizable reporting and business intelligence to present real-time company health information and personalized KPIs with a few clicks. Your staff can easily retrieve the information needed for your business to thrive without delay.
Pulling from a unified database, an integrated ERP solution reports put every team member on the same page with a single version of organizational truth while using role-based access to secure data.
In the modern business ecosystem, it’s not merely about making decisions. It’s about making the right decisions on time. Decision-making is a time-sensitive exercise. It requires a balance between accessing accurate data at the right time.
Virtually every department relies on technology to automate processes. But most fail to exploit its full value. Unless organizations can gather and analyze real-time insights from each system, they will miss vital opportunities to address problems and advance goals.
To continually track sales, expenses, production, and distribution, organizations must pull financial and product data from numerous (paper and electronic) sources and develop various business reports. Still, integrating diverse financial systems does not guarantee organizations will have meaningful insights at their fingertips.