Think big data is only for big businesses? Think again. With the right financial management tools, small businesses can take advantage of big data to streamline operations, forecast more accurately, and increase revenue.
What you can do with big data
“Big data” has been a popular term for a while now. It describes the growing volume of data that’s available to organizations every day. The challenge every business—large and small—faces is that it can be difficult to identify all the different types of information located in different systems and then quickly sort through the data, analyze it, and visualize it.
The reason big data, and particularly financial data, is so valuable to businesses is that you can use it to optimize nearly every aspect of your business. For instance, big data can help you:
- Track progress toward both near-term and long-term performance goals
- Make fast, accurate revenue projections
- View invoicing, payroll, and other accounting tasks in an instant for every department
- Quickly identify and act on project overruns, net profit margins, and other growth KPIs
- Share clear and detailed budgets, reports, and key financials with executives
Big data advantages of Sage Intacct
With Sage Intacct, the best-in-class cloud-based accounting software solution, small businesses can access the same big data advantages that large corporations currently enjoy. Sage Intacct enables you to view all your core financials, from general ledger to order management to cash flow, in an easy-to-read, fully customizable dashboard that’s accessible anytime, anywhere from desktop or mobile devices.
Sage Intacct is easy to integrate with your key accounting and back-office functions, so you can automatically pull data from multiple systems across your business. That reduces the workload for your internal personnel and ensures that executives and managers can view all the real-time performance metrics and projections they need to make the right strategic decisions for the business.
Because it’s a subscription-based service, Sage Intacct will also help your business reduce CapEx costs, and it can lead to lower IT infrastructure management costs. At the same time, you’re reducing expenditures, you gain access to all the latest tools to take full advantage of big data, now and into the future.
Find out how you can use big data
Insero & Co. is a public accounting firm with decades of experience working with small and large businesses. Our experts are available to help you identify the best ways to use big data to streamline your operations, compete more effectively, and grow your business.
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About the Author: Kimberly Gangi
