Updated: May 11, 2021
The number of businesses using Sage Business Intelligence for data-driven decision making and improved access to data is continuously growing. Yet many business owners are still half-hearted about BI’s benefits for their businesses. Here are 5 must-known advantages of Sage Business Intelligence for all businesses.
1. Save time and increase your business’s productivity
Reporting automation due to which businesses can save time and increase their productivity is one of the key advantages of Sage Business Intelligence. It’s well known that manual compiling a monthly financial report may take from several hours to a few days depending on the company size. However, with BI, this time can be reduced to minutes and even seconds. You can prepare real-time automated reports by clicking a few buttons which draw the data from the company’s accounting package and deliver pre-formatted Excel reports and dashboards.
Besides financial reports, Sage Business Intelligence can also automate dashboards and sales reports, which can be analyzed by your company’s decision-makers. Instead of static reports, your up-to-date data is presented in the form of real-time reports, which allows using this information for making data-driven decisions, managing the business more efficiently, and saving time on reporting.
2. Understandable format of reporting
Absolutely all companies have data; however, not all of them can use or analyze it because of its incomprehensible or inflexible format. Usually, the data is stored in ERP or CRM systems and extracted as an Excel file. Later, it is analyzed by business managers who have the corresponding skill and knowledge of compiling Excel reports. Only then the company’s data becomes useful and provides valuable insights.
However, with Sage Business Intelligence, companies don’t have to go through all this trouble since BI provides ready-to-use templates of Excel reports which don’t need changing. The data stored in a company’s accounting, customer relationship management, or payroll systems are delivered in an understandable and convenient format. You don’t need to know multiple Excel formulas to turn your data into value. Read more about action-oriented reporting in our previous blog post.
3. Improved access to your data
The volume of business data is increasing every second, but it’s useless if you cannot access that information and use it for making forecasts, estimating the risks, and planning a year ahead. However, with a good BI solution
you have a 360-degree visibility of what happened with your business ten years or 2-3 minutes ago;
you have an idea about the health of your company due to the metrics and KPIs displayed in a digestible graphical format;
you can combine the data from your CRM, accounting, and payroll databases by customizing the reports.
4. Data-driven decision making
Every minute business people have to make decisions critical for the present and the future of their company. These decisions aim to increase profitability, reduce costs and risks, improve the cash flow, etc. However, these kinds of decisions cannot be made relying on only your gut or business intuition. They should be based on trustworthy and meaningful information.
Due to Sage Business Intelligence, decision-makers can be more proactive, and teams can collaborate more effectively. Businesses can make decisions and conclusions based on real-time information and implement quick measures to take advantage of opportunities, correct mistakes, mitigate risks, etc. Read more.
5. Compatible with small, middle-sized, and big businesses
Traditionally BI has been intended for big businesses with extensive data. Small companies used to avoid using a BI solution because of its cost and complexity. Besides, they used to manage everything and analyze the data manually using Excel sheets.
However, times have changed, and today BI is suitable for businesses of any size. The new generation BI solutions don’t require extensive IT investments for deployment. You don’t have to be an Excel expert to compile a report or an accountant to interpret the data.
To learn more, check out a demo of Sage Enterprise Intelligence and roles-based BI dashboards by SYSTRONICS, or drop us an email to book a free consultation with our BI team.