Business Intelligence - with the help of self-service BI to systematic analyzes as basis for operational and strategic decisions!
Always the right numbers in sight!
Business Intelligence refers to processes for the systematic analysis of data. The aim is to gain insights that form the basis for better operational or strategic decisions with regard to the company's objectives.
These include also the automation of controlling, reporting, planning and preview as well as market and customer analysis. The enterprise data of the ERP system are used to analyze and evaluate the company's situation at different angles and CFOs as well as controllers have always an overview of the actual and coming situation. And they will have more time for important strategic work instead of searching the right numbers.
Many BI solutions have focused on the analysis and combine it with other modules such as planning, reporting and budgeting.
BI & Analysis software helps the management making the right decisions and improve the financial performance of a company. It provides a faster and more reliable interpretation of financial data.
The activities of the financial analysis are used for a reliable financial planning and the FP & A solution is used for a smooth and successful work of each company. Data on the balance sheet, the income statement, the annual report, the industry and the economic development are used here.
Flexible and modern BI software is becoming increasingly a dynamic control tool and is more and more important for companies as a market-oriented company management. A well-implemented BI software helps you to automate daily tasks and to introduce efficient structures in addition to saving time. It can become a significant competitive advantage through the central availability of key company figures.
Key challenge
One of the key challenges in the field of BI solutions is the high effort involved in key figure and data processing. The data are usually found in different systems and are compiled in reports with a lot of manual effort e.g. in an Excel file.
The first task of a BI project is therefore to create data from the ERP system(s) for analysis in a separate database.
In the second step, the analytical evaluations necessary for the reporting are set up. This can range from simple aggregations of, for example, sales figures of individual articles in the last days, weeks, months up to complicated analyzes, e.g. trend analysis of customer behavior.