As a business owner, you know that crucial decisions need to be made every day. No matter what sector you work in, you no doubt face decisions about money, products, customers, employees, scheduling, and the list goes on. Your best decisions will be based on accurate information. You need access to reliable data.
Data has become as valuable as cash to businesses. Few businesses have a shortage, but data comes with its own challenge—how to transform it into intelligence that generates action to drive the business forward.
Manage your data
Modern business management systems are designed to centralize data from across the organization so everyone is on the same page at the same time. Real-time data updates help you spot trends, prevent issues and deliver great customer service. With a complete picture of your business from a centralized source, you can:
- Streamline financial close, including multi-company allocations to get real-time
visibility into the performance of your business.
- Apply proactive business intelligence that helps you prevent issues and deliver better customer experiences.
- Monitor trends and changes along your supply chain to adjust purchasing and optimize inventory.
- Empower users with dashboards and self-serve reports from trusted data sources for faster, more informed decision-making.
Insight in action
A large hospital was struggling to manage their complex staffing requirements which included specific patient to caregiver ratios as well as coverage by certifications/degrees/qualifications. Labor costs were out of hand as they over-staffed to assure coverage.
After Implementing a system to centralize employee and patient data and automate scheduling, managers now can easily see “who is where” on a schedule, along with staff qualifications. Alerts notify managers when they are “approaching overtime” so they can make proactive decisions about scheduling.
This is just one example of how intelligent use of data can support good business decisions.
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By ERP Software Blog Writer, erpsoftwareblog.com