How many times do you find yourself wading through paperwork attempting to troubleshoot problems you should have, could have prevented with foresight and planning?
Too often when we are so focused on the day-to-day operations of a business, we neglect to consider the overall health status of the operation. We miss the red flags that would have been glaringly obvious had we taken the time to evaluate the company’s performance and put strategies in place to deal with potential problems before they occur.
Business owners can end up spending their time solving operational problems that could have been anticipated, planned for and dealt with. As a result, these owners may lack the time to stay ahead of the curve or focus on more strategic issues, such as planning the next phase of growth for the company.
One way to of avoiding corporate disasters is by having a great Business Intelligence tool in place. Instead of being baffled by multiple spreadsheets and data analysis, you’ll be able to get in-depth insight with clear concise reports.
If these signposts apply to your business, it’s time you enlisted the help of Smoothstream Australia.
1. You think Business Intelligence starts and ends with Excel? Spreadsheets require manual inputting of data which may be subject to errors. Critical errors occur when documents are being updated by multiple users. In departments like Human Resources and Payroll, errors could mean enormous tax fines or employees not being paid on time.
2. You have to copy and paste and manipulate data to compile reports. This is a laborious process and by the time you have finished assembling the reports, the data may already be incorrect.
3. Most of your business records and invoicing are archived in boxes relegated to the store room.
4. At a glance, you have no idea how your business is performing without spending two or three days looking over the figures.
5. Your human resources processes are still completed manually.
6. You don’t have a back-up server to store all your data.
7. You struggle to make head or tale of Excel spreadsheets
8. Your client database is effectively a wallet full of business cards.
9. None of your software programmes are capable of talking to each other.
10. You are ready to chuck in the towel because running a business is just all a bit too hard.
Now see the benefits of employing Business Intelligence.
An increase in staff achieving KPIs
Staff are more effective in achieving their KPIs when they are able to focus on their main objectives rather than being side-tracked working with inferior software which doesn’t adequately perform the tasks you hoped it would. A business analyst can provide insight into software functionality with creative solutions on how to develop strategies which can improve the bottom line and incentivise employees.
Stress levels are reduced
A business analyst can help you iron out problems with inconsistent data and reporting functionality. Stress levels are reduced when managers know the facts and figures reflected in the report are accurate and easy to understand. Clear and concise reporting mean there are fewer margins for error.
Better tracking of key metrics
Throughout its lifetime, a company will undergo many substantial changes. A business analyst can help set up forecasting software to minimise risks so the effects on the bottom line can be taken into consideration before instigating any changes. Managers are thereforeable to base their decisions on data, rather than on a hunch.
Trustees and sponsors can have easy access to data.
With a dependable business intelligence tool, outside parties with a vested interest in the business (Trustees, sponsors, board members or various other stakeholders) are able to have access to the facts and figures behind management’s important decisions and provide backing for new initiatives.
Get a competitive advantage
At the rate technology is advancing and the internet providing consumers to businesses across the globe, a business intelligence analyst can ensure your computer systems offer modern functionality and capabilities to ensure you remain a worthy and determined participant in the marketplace.
But we are merely scratching the surface of what aligning your brand with Smoothstream Business Intelligence can do for your bottom line. To find out more about the advantages of enlisting John and his team, talk to Smoothstream today.
Call or email to book a free, on site, 15 to 30 minute Discovery Session to determine your needs.