Posted on: Monday July 02nd, 2018

Author: Phocas Software

The amount of data your company produces is significant and not taking advantage of it can hurt your bottom line. The ability to turn raw information into actionable intelligence is crucial to understanding how to better serve customers and streamline processes, reduce costs and improve profit margins.

The data your company generates is likely stored in multiple systems. While much of your data may sit in an enterprise resource planning (ERP) system, customer relationship management (CRM), spreadsheets, third-party systems and other databases will also contain vital information.

Business intelligence (BI) collects all the data for you

BI aggregates all the data from your various systems and gives you a single source of truth, making it easy to analyze. A good BI solution will let you ask questions of your data to make critical decisions based on facts.
Companies that do not use BI are at risk of making decisions based on inconsistent data. While a sales manager might be using historical data from your CRM system, your CEO might be basing decisions on data stored in your ERP system, leading to conflicting interpretations of the right course of action. Using a single source of data can reveal trends and present opportunities to better position your company for growth, and prevent instability.

Your finance department can use BI to simplify processes by giving users access to profit and loss (P&L), balance sheets and cash flow information applicable to their role. Managers save time by reducing the number of reports it prepares for various departments and can still restrict access when and where appropriate.

Inventory managers can use BI to track stock levels by branch, store, or your distribution centres and presents a consolidated view of your data. Carrying too much stock can be as damaging to your bottom line as carrying too little, so getting levels right is important.

Why choose Phocas BI?

Phocas simplifies the way businesses make critical decisions by integrating data from your MYOB ERP, SalesForce CRM, spreadsheets, or other data sources in a simple-to-use solution that is easy to understand, and designed for anyone in your company to use.

The leading BI solution presents data in a live analysis grid that you can drill into based on the questions you ask, slicing and dicing to get the answers you need.