Business Intelligence (BI) tools are becoming more and more critical to business in South Africa, especially when focusing on the alignment and optimisation of your business, strategy, and operational processes to support your objectives.
It is important to find a BI partner who can give you a turnkey solution for your financial and operational performance management that also integrates with your ERP systems and allows a multi-view, multi-user presentation for any application – be it reporting, forecasting and scenarios, or process optimisation.
As a corporate organization, you know that data visualization and analytics are a critical lever in the financial and operational performance management machine. Business Intelligence tools for enterprise businesses allow you to capture, process, represent and analyse your company’s financial or operational data.
Finding a solution that gives you large-scale, real-time data breakdowns and the flexibility to present this data in any situation is even more critical.
Does your BI solution give you these four key benefits?
Planning & Forecasting
With versatile modelling tools, it’s simpler to prepare budgets and evaluate progress against expected performance. Your solution should allow you to effectively run multiple scenarios before a final decision on new forecasts is made.
Your OPM solution should use performance management and analytic processes that mirror the operating model of the organisation help you to identify your key drivers to improve your operational performance.
The automation of your system should allow a smoother, more accurate representation of your operational landscape so that you spend less time collating the data, and more time optimising your operational processes.
- Automated Data Collection
- Automated Analysis
- Automated Recalculation
Are your financials consolidated? Is your platform fully integrated with your ERP system?
They should be, and your FPM and Reporting System should give you a holistic view, from multiple angles, from a central and accurate point.
Employees and managers in different departments should be able to collaborate on the assembly of complex reports, with independent input contributing to the overall reporting pool.
Automation is key in financial performance management and reporting (statutory, stakeholder, and management), and you should have peace of mind that comes with:
- Connection directly to the data source
- Automatic updates of financial numbers
- Accurate and timeous information
- A single version of the truth
- Confidence in the narrative report
Reporting with BI
Stakeholders, Statutory Reporting, and Management Reporting:
Whatever the requirement and purpose of your reports, your narrative and disclosure management solution should enable your organisation to automate the collection of data in a single, dynamic reporting and analysis environment.
Automation plays a large role in reporting and contributes to the accuracy and currency of the information presented. If your reporting solution isn’t automated, you will be losing out on an efficient and comprehensive solution that saves time and administration.
Rethink your Business Intelligence.
Find out more about implementing Business Intelligence tools in your business from Cortell’s team of expert consultants. Mail firstname.lastname@example.org or call us on 011 804 2208