This article will discuss the benefits of Business Intelligence (BI) for the HR, IT, marketing, and sales departments using Dynamics GP.
BI solutions can help you meet department-specific goals in an efficient way. I will cover general departments that you would typically find in a company.
A budgeting and forecasting tool benefits the sales department because it enables the team to forecast and predict sales by several business “dimensions” such as sales person, product, partner, and more on an ongoing basis. A budgeting and forecasting solution takes sales members out of the old manual spreadsheet processes, which may cause chaos due to information overload, broken links, etc., and allows them to use a web form on top of the database.
Reporting and Analyses allow the sales department to run reports and view dashboards for the actual sales data from Dynamics GP, as well analyze and compare to the budget and forecast data that was entered, including the quotas for the sales team members. They are getting their data from the BI360 data warehouse (DW) module, which enables the team to bring in information in order to report on the sales pipeline in the same BI tool.
Marketing Director Vanessa Sierra mentions that “budgeting and forecasting are two of the most important areas that [they] focus on as [they] prepare for next year.
Reporting and Analysis can provide feedback on how to best market a product based on their own anecdotal or qualitative analysis. Reporting and analysis, however, is needed to drive the performance of these elements. According to Sierra, “BI and Corporate Performance Management (CPM) tools such as BI360 and specialty tools such as Google Analytics help me determine how I can be more effective.” One thing she suggests is to see what is actually converting into a significant number of marketing qualified leads (MQLs) for the Sales team.
Budgeting and forecasting usually helps the human resources (HR) departments make decisions based on how resources are allocated, and it allows the departments to monitor and track how the company is doing with cost control as well as revenue generation.
Reporting and analysis benefits HR because “we are able to relay or present the financial position of the organization easily and efficiently. It allows us to show the financial position of the business in a concise, commonly accepted manner that many who deal with financial reports can understand and recognize,” says Controller Gina Louie.
For the IT department, budgeting is important to determine the department’s expenditures such as the type of equipment needed, limit runaway expenditures, and it allows IT to provide department value to the company.
“Reporting and analysis helps my team understand the current status and provide details to answer the big questions,” says IT Manager Allan Bacero. “This allows us to use factual data to analyze trends or explain reasons to adjust forecasted values.” BI solutions allows them to make continuous decisions without any distractions or stopping the workflow. Dashboards give the department a way to visually compare key performance indicators (KPIs) to challenge colleagues to work on areas where the department may be lacking.
To continue learning about how BI can benefit companies using Microsoft Dynamics GP, read the rest of this article
By Solver Global,