In the modern business culture, Business Intelligence (BI) analysis is becoming increasingly important because it translates your company data into informed decisions about the future of your hotels or restaurants. But whether you’re new to BI analytics or not, today’s software offerings can be confusing and overwhelming in regard to how you can plug the functionality into your industry-specific objectives. Recently, I spoke with an accountant in the hospitality industry, and we commiserated over the overwhelming task of seeking the right technology to specifically help hotel and restaurant management to better do their job. Therefore, this article will zoom in on the premier features and functionalities you should be aware of in today’s reporting and planning tools, with a special focus on the ways you can manage and evaluate your information when managing your hotel or restaurant.
Dashboards are the number one BI technology, according to Software Advice, a comparison site for Business Intelligence (BI) tools. Their research zoomed in on software for CFOs, and the results confirmed that dashboards, scorecards, and performance management software are king for today’s financial executives. If you are part of the management team for a healthcare company, you know the pace of business today is nothing short of fast. Dashboards provide quickly accessible, easily digestible analytics. Data visualizations are graphs, charts, and scorecards that showcase data trends, opportunities, and challenges with key performance indicators (KPIs) for departments, projects, and/or the entire corporation.
Budgeting can be a tedious task, usually because of the traditional process of manually linking spreadsheets together for a comprehensive budget. Fortunately, third party Business Intelligence (BI) software vendors are offering modern upgrades to your budgeting and forecasting tasks with consumer-driven technology. If your company is healthy and growing, your planning responsibilities are probably too complicated for manual Excel budgets, so you should be looking at third party solutions to simplify and improve your planning processes. The best modern budgeting tools enable you to securely facilitate collaborative budgeting by distributing ownership to your department heads without annoying logistics.
This blog has covered different aspects of financial planning for different enterprise resource planning (ERP) systems and different industries. Cash flow budgeting and forecasting are a couple of processes that zoom in on your actual cash money, specifically in terms of payments going out for payroll and debtors and the cash coming in from customers. In other words, a cash flow budget showcases a company’s monthly capital requirement. And unlike the more traditional operational and transactional budgeting, cash flow budgets are a little bit more complex because there are more unknown figures to calculate and analyze. This article will zoom in on the process, so you can understand more about the ins and outs, as well as the benefits for your company.
Data is driving decision-making at all levels because data continues to grow in size and significance. Logging, storing, and evaluating data has become a big part of the business culture today. In order to produce rich, helpful financial reports for an analysis of a company’s opportunities and challenges, you will have to routinely store, access, and manage your data. Because of this reality, you might feel overwhelmed your technology options for storing your data. You have a few options, but they vary in functionality, and one might be better for your company than another, depending on what analysis goals you are trying to achieve. This article will explore data warehouse and OLAP cube based reporting.
This probably won’t be shocking news to you: dashboards are the #1 priority in the Business Intelligence (BI) software marketplace for CFOs, according to a recent Gartner study on Financial Executive International CFO Technology. It made perfect sense to me. In today’s business culture, professionals at all levels of your organization should have access to data analyses for richer, more informed decision-making. Data visualizations are brains and beauty, delivering exactly that.
There is a population of Sage X3 users who are responsible for the financial consolidation of parent company data with one or more subsidiaries. Aggregating financial information from multiple entities, sometimes with diverse monies, can be challenging if you do not have a modern financial consolidation tool to sit atop Sage X3 and any other accounting system that can be used within your company. Data is only increasing in amount and importance to organizational decision-making. That is why more execs are looking for the right tool to empower their business end users to consolidate data into a singular set of financial reports. This article will zoom in on your software choices for modern, dynamic, and easy-to-use financial consolidations with Sage X3. For rapid growth organizations, a quality reporting and consolidation tool can also have the ability to extend the life of your Sage X3 implementation.
According to Software Advice, a comparison site for Business Intelligence (BI) tools, dashboards are king in the BI technology marketplace. Their study focused on technology for CFOs, and results indicated that dashboards, scorecards, and performance management software are the number one priority for executives today. If you are managing a manufacturing and distribution organization, you know how fast-paced business can be. Dashboards offer easy-to-understand, quickly digestible analyses. More specifically, dashboards range from graphs and charts to scorecards, illustrating data trends, success, and challenges with key performance indicators (KPIs) for projects, departments, and/or the whole company.
If you are running Microsoft Dynamics NAV, shopping for third party Business Intelligence (BI) solutions to upgrade your data management and analysis processes can be confusing and sometimes, overwhelming. You’ll go through your share of sales pitches, webinars, and demos, but this is a process you won’t do often. I’ve spoken to several professionals, most recently at Microsoft Convergence, who know what has worked and not worked for them, but don’t know what they should be looking for and asking regarding the features and functionalities of modern, powerful BI solutions. Most people are simply looking for the right fit to best meet their business demands, but where do you start?
Maybe budgeting is such a dreaded task because of how logistically messy manual Excel–based planning processes are for budget managers. While Excel is loved and trusted by finance teams around the globe, the spreadsheet program is simply not fit for organizations of a healthy size. Therefore, Microsoft Dynamics AX customers are increasingly looking at independent software vendor (ISV) budgeting software to modernize and accelerate their planning processes. Some of today’s ISV solutions simplify and turbo-charge budgeting and forecasting by securely inviting collaboration into the process. Budgeting and forecasting are processes best served by collaboration because of the need to live within financial means as a whole organization in order to ensure future success.