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Why You Should Consider a Business

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Why You Should Consider a Business
Intelligence Solution
Yes, we know, you've heard it all before - the jargon from big
companies trying to sell you expensive software that you're fairly
sure you don't need. And what is Business Intelligence (BI)
anyway?

As images of computers in suits go through your mind, we'd like to
take this opportunity to introduce ourselves and give you a very
quick overview of the benefits of investing in BI or enterprise
performance management (EPM) software.

We're not going to get into the technical side of our software - we
can save that for later when we've persuaded you about all the
benefits and business advantages you'll see when you begin to
use BI. Today, we're only going to take a short time to discuss the
functions we think you'll find useful in running your company.

Data everywhere. Intelligence nowhere.

If this sounds familiar, you're probably struggling with
spreadsheets, prepared for you every month by your line
managers. Problems with spreadsheets crop up when people add
or subtract columns or rows or have differing interpretations as to
what goes where. Often, the data is out of date by the time it gets
to you and stragglers make your month-end, not to mention your
year-end, a nightmare.

A BI solution will gather, store and provide instant access to
mission critical information. It will vastly improve the speed at which
you can calculate and consolidate your data, allowing you to make
comparisons in seconds and make much better business
decisions.

Pinpointing profit and loss
If you don't have accurate and timely information, it's very difficult
to analyse operational effectiveness. We all know that we need to
keep our costs low to maximise our profits and stay ahead of the
competition. And we probably all have a general idea as to where
our profit losses are

occurring. But we need to stop guessing and start knowing. Your BI
   solution will help you to identify areas that are failing to meet
 objectives and encountering cost overruns, allowing you to make
          mid-course adjustments to correct the situation.

Currency conversions

Depending on the scope of your operations or projects, accurate
and timely data is critical, but so is accurate and up-to-date
currency conversion. Your BI solution will provide a powerful
engine for high-speed calculations and automated currency
conversions with exchange difference capture. This allows you to
monitor actual costs and expenditures in a fluctuating environment,
keep a close eye on profit margins and make any needed budget
adjustments.

Forecasting and scenario analysis

Yes, we have to admit it, this is our favourite function. Because
your BI solution integrates your data from multiple sources, and
because it has a built-in standard validation function, your
forecasting is based on reliable, historic data. This produces highly
accurate forecasts for your decision-makers.

But, your BI solution can take forecasting and strategic planning to
a whole new level using scenario analysis. This means that you
can ask as many "what if?" questions as you like. If your operations
are dependent on the price of petrol, or you're concerned about
volatile material costs, these are all factors which can be run as
queries to give you almost immediate answers to questions which
directly affect your profitability. It allows you to see where you can
create efficiencies without negatively affecting your core business
or service and provides a strong foundation for informed strategic
planning.

About TCM infosys
Headquartered in the UK, TCM Infosys has been in business for 10
years, developing enterprise performance management and
business intelligence solutions for clients across the globe.

								
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