The place of business intelligence software in today's companies is completely necessary. Whether an enterprise is in manufacturing or occupies another industry position, the need for business solutions that bring insight into daily operations is strong. One area of a company's functions that ultimately depends on ERP software's capabilities is the financial department. For too long, many organizations have been hampered by spreadsheet-focused business intelligence solutions that are anything but efficient for providing complete insight into a company's performance. In many organizations, there are too many moving parts to effectively track and analyze their performance using a spreadsheet alone. Complexity breeds technological obsolescence, which is very apparent in today's data-driven business environment.
It's for this reason that many companies have turned to tools like Microsoft Dynamics ERP and Microsoft Dynamics BI solutions like
What's the problem with spreadsheets?
In an article for MSDynamicsWorld.com, writer Dan Edwards provided a very clear explanation of how companies can
One of the big reasons that spreadsheets can often fall short in terms of effectiveness is the fact that many people aren't totally trained on how to use them. For instance, a study from Ventana Research found that just 11 percent of Excel users consider themselves to be fully adept at using the program. At the same time, this application is extremely prevalent in most businesses, but it's not often being used to the best purposes. While it offers basic data analysis and visualization, there are limits to its utility. This is especially the case when a company experiences growth and their operations become more complex, whether due to new supply chains being integrated into workflows or the effects of globalization.
Collaboration is fairly difficult using spreadsheets as well. First of all, setting up a sheet for financial reporting and analysis requires a significant amount of work conducted largely by one person who is responsible for creating a tool that everyone will be able to understand. Meanwhile, it can be exceedingly difficult to trace accounting errors with any speed because a single mistake in entering data into a cell can throw off calculations by a large proportion. Similarly, it's very easy to create several copies of the same data, making it hard to trace back the information to a pure source. Finally, reporting functionality for a program like Excel requires a manual effort. In other words, if any information is updated and needs to be shared with others within the company, someone needs to do this by hand.
Business intelligence in action
There are alternatives for companies that want to ensure the integrity of their data and allow for a better user experience. A case study involving Service Systems Associates demonstrates how
By introducing automation software into the organization's use of Microsoft Dynamics BI, SSA quickly saw positive results from accounts payable automation. For instance, it saved $14,000 annually by integrating the platform.
By The TM Group