As a busy CEO or executive, you may think you have all the data you need to make effective business decisions.Before your monthly Board meeting or management review, your IT team may deliver you a report with the latest key metrics across your business. Other executives may receive their reports in the same way.
KPIs and metrics may be selectively presented to you by your direct reports and you may find that you cannot drill into the data to find more information. Instead of figuring out how to take advantage of an opportunity or fix a business problem, you are arguing about whether the number or statistic is accurate. It doesn’t need to be this way.
Below, we outline some of the common statements we get from executives before they purchase business intelligence. We provide a rebuttal based on the experiences of the many CEOs and executives who have made the switch to Phocas business intelligence.
Statement: The IT team gives me everything I need. Why should I invest in a complex tool when I can get a report within 3-4 days of asking?
Rebuttal: You do not need to wait 3-4 days for a report with Phocas. With Phocas, you can drill down on business information and follow your train of thought. Phocas is easy to use (far easier than manipulating spreadsheets). You can even access Phocas on your mobile. This gives you continued access to your company data when you are traveling, in meetings, on leave or when you spontaneously want to look at something.
Statement: Reporting tools are expensive. I don’t have thousands to spend on a business intelligence system.
Rebuttal: Phocas is extremely cost effective and in most cases ROI is delivered within the first few months of usage. Phocas also has a monthly subscription model which means the onus is on us to ensure you get the most value from the software. We also have a 98% customer
retention rate which highlights the value our customers get from Phocas. With Phocas, there are no long-term contracts - you subscribe monthly and are free to cancel whenever you like.
Statement: I get my Board report that tells me everything I need to know. Why do I need anything else?
Rebuttal: As an executive, from a cost and efficiency point-of-view, it is cheaper to use Phocas. Phocas makes it easier to prepare these board reports so your staff can spend more time selling or creating value. As a business, you can save money as staff won't be required to prepare the reports. In addition, if you have a question about something in your board pack, Phocas give you the ability to drill into it. Instead of arguing about a number, you can spend time interrogating it. Sapphire Group executive, Paul Hoad said: "Phocas has to be worth a person to us in terms of time and energy.”