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Read The Resource Group blog to learn about Microsoft Dynamics GP ERP software and Intacct cloud accounting software
by Marty Schillaci, CEO of The Resource Group
Business intelligence, commonly referred to as BI, is big news today. In fact, Bill Gates recently quoted that “information technology and business are becoming interwoven.”
If you're using Business Intelligence (BI) software to compile and review your organization's financial data, you know it can be a powerful window into the numbers, providing you with a better understanding of your strengths and weaknesses, and how to move forward. This is why the global market for BI is estimated to be $16.9B in 2016 by Gartner.
But what if your BI software could do all of that and then some, integrating financial reporting, data visibility and enhanced Excel-based reporting in a single application that cuts your decision-making time in half, at a fraction of the cost?
With the recent emergence of Corporate Performance Management (CPM) software, you're now in a position to take advantage of what we call Business Intelligence 4.0 – with all of the information you need, but with enterprise-wide capabilities that allow you to integrate multiple sources and tools, and to drill down into performance metrics for budgeting, forecasting, financial consolidation, and deep-dive financial reporting.
by Saeward Schillaci, The Resource Group
So, you’ve decided that you need new accounting software for your project based business (consulting, marketing, SaaS or so forth). From here, you have two options: The first option, which is chosen far too often, is to decide based on simple, arbitrary factors. This might include picking whichever vendor seems the friendliest, using whatever your competitors are using, or choosing based on preferences of friends. This willy-nilly decision-making style is fast and easy, but it doesn’t ensure that the software functionality matches the needs of your business. It’s basically gambling – it might work out, or it might be a total waste of money that results in your business going back to the same outdated spreadsheets everyone used with the old system.