Empowering remote finance teams with the right tools
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Empowering remote finance teams with the right tools

For finance teams, the transition to remote work during COVID-19 has brought a mix of various opportunities and challenges. Since finance teams spend most of their time on their computers to create various reports, analyze and process data, remote work hasn’t created too many obstacles. However, if the finance team is reliant on the IT department to create reports, generate data queries, and extracting necessary information from the ERP – communication of financial data has most likely slowed. This dilemma can be addressed with the right financial software tools.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, business intelligence dashboards

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Empowering remote finance teams with the right tools

For finance teams, the transition to remote work during COVID-19 has brought a mix of various opportunities and challenges. Since finance teams spend most of their time on their computers to create various reports, analyze and process data, remote work hasn’t created too many obstacles. However, if the finance team is reliant on the IT department to create reports, generate data queries, and extracting necessary information from the ERP – communication of financial data has most likely slowed. This dilemma can be addressed with the right financial software tools.

Read more

Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, business intelligence dashboards

How to choose the right business intelligence solution for your business

Business Intelligence is key to making the most of the data generated by your company because it allows you to analyze this data. And to be frank, the ability to make sense of your data so you can spot trends and be proactive is a game-changer. So, to make the best decisions using the data you have available, it’s important to choose the right business intelligence (BI) solution for your business.

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Topics: Business Intelligence Basics, Job Role - Executive, Financial Statements, business intelligence dashboards

Key performance measures to track from finance data

Key performance measures help people evaluate actual performance against objectives, so they know what levers to pull to stay on track. As finance plays a vital role in an organization’s critical decision-making, we’re going to take a look what KPIs to set. The significance of having the ability to measure financial KPIs means businesses can get closer to customers. Finance data closes the time gap between customers’ demands and businesses’ response to them.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, business intelligence dashboards, KPIs and metrics

Business intelligence vs. spreadsheets: What does your business need?

As businesses grow and become more digital, so too does the amount of data available to track and analyze. For people to take advantage of the abundance of data and make well-informed decisions, you must have access to a tool to get a single, real-time, fact-based version of the truth. Unfortunately, because of its familiarity, Excel is used as a catchall for business data. If you're using spreadsheets as your data analytics solution — it's worth reassessing your business tools —ready for the future.

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Topics: Business Intelligence Basics, Job Role - Executive, ERP - Microsoft Excel, business intelligence dashboards

Accounting analytics – how business intelligence helps

A decade ago, an accountant balanced the daily transactions and prepared a statement of profit and loss for the year-end. In recent times, the ERP and spreadsheets became the accountant’s best friend to create static reports and communicate historical financial performance. Now in today’s fast-paced business environment, the story has flipped on its head. Accountants manage the end-to-end accounting process as well as act as strategic partners to growth and success. They use accounting analytics to review data, collect insights and communicate outcomes to people across the organization, so everyone can understand the impact of their decisions in real-time.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, business intelligence dashboards

Financial data visualizations - how they help businesspeople communicate

Humans are wired to love numbers over text, pictures over written content, and dashboards over spreadsheets. To make business decisions with spreadsheets, the finance team has to pore over thousands of rows of data. Analyzing company data lying in cumbersome spreadsheets becomes a chore so is often neglected. But when the same financial data is consolidated using data analytics and presented in a visual format —it’s easier to analyze and communicate the insights with the whole team.

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Topics: Business Intelligence Basics, Job Role - Finance, Job Role - Executive, Financial Statements, ERP - Epicor, business intelligence dashboards

Five quick steps to closing a sale

Natural born sales people have something that many people don’t have—charisma. They’re positive, motivating, networking masters and bursting with energy. But having these traits doesn’t mean that they can close. Here's a simple how-to guide to closing a sale.

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Topics: Business Intelligence Basics, Job Role - Sales, business intelligence dashboards

iQuip paints a data-driven future

iQuip Group is an exciting new Australian wholesaler dedicated to supporting the paint, render and external façade industry. The company offers a complete range of premium accessories, tools and equipment and works as a one-stop-shop for paint retailers which was missing in the market. The company is owned and run by Rohan Salisbury, a wholesaler who is data-driven. He'd never run a business without Phocas data analytics, especially from the sales analysis point of view. "Phocas tells you what's not happening in your sales or what could be happening in sales – that's what we care about," said Rohan.

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Topics: Case Study, Industry - Wholesale Distribution, Job Role - Sales, ERP - MYOB EXO, Job Role - Executive, business intelligence dashboards

Business analytics for beginners

If you are new to business analytics, it can be difficult to know where to start. There is so much information out there that it can be difficult to understand for people without an IT degree or experience with analytics solutions. This blog aims to lay out the most important aspects of business analytics for a beginner within a retail, distribution or wholesale business.

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Topics: Strategy, Management and Performance, data analytics, business intelligence dashboards, KPIs and metrics

4 elements of an efficient business intelligence tool

There are so many business intelligence tools on the market, all promising a competitive edge for your business. A good start is ensuring the software is compatible with your ERP and the tool has built-in content relevant for your industry.  Most business people need access to data quickly so being able to rely on industry specific dashboards and metrics makes adoption across the business more accessible. To ensure your investment in business intelligence is future proof, we also have a 4 point checklist to consider.

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Topics: Business Intelligence Basics, Job Role - IT, business intelligence dashboards, data visualizations, Inventory Management, KPIs and metrics

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