Companies rely heavily on their business data to make informed business decisions and easy-to-use financial reporting tools are essential for staying competitive in today’s global environment. Most tools produce custom financial reports by pulling actuals from your data sources with an option to query live data from Dynamics GP (which itself comes with a native report writing function). But these reports aren’t the same as full blown Business Intelligence (BI) analytics, so third-party software solutions can be integrated to offer more powerful reporting capabilities.
Web-based reporting — including cloud-based options — provides secure and flexible data management and analytics via a web browser from anywhere with an internet connection. Cloud reporting generally requires integration with a BI data store so real-time ERP reporting isn’t always available, but there are hybrid web/Excel-based reporting tools that do offer live integrations.
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BI360 also offers the flexibility of crafting financial reports in Excel and running the reports on the Web or even via a mobile app on a smartphone or tablet. Although you can’t currently design these reports on a mobile device, you can view reports and have all the drill-down capabilities available through Dynamics GP. Availability of reporting via mobile apps should be a taken into consideration when shopping for BI reporting tools even if they do not yet include the full functionality that you require. As more and more business users expect to work via mobile device, reporting tools will continue to evolve.
For assistance in evaluating which BI reporting tools make the most sense for your organization,
Written by Accountnet Inc., New York.