Why Real-Time Visibility Matters
Business today moves fast—extremely fast—which places a lot of pressure on executives to quickly evaluate data and make informed decisions without delay. To do that, they need visibility into real-time metrics from across the organization, and they need that information to be readily available and easy to understand.
Take, for example, a retailer that operates two outlets. During a holiday sale (or on any given day), the manager might want to examine key metrics at one store and then see how those figures compare to those at the other location. By finding variances, the manager can identify opportunities and best practices to rapidly improve operations at each store.
Or consider another business that needs to track financial as well as business metrics. If executives need consolidated accounts receivable, or want to look at key data by programs or clients, how long should they have to wait? To be competitive, they need to be able to access that information, sorted as necessary, and take action within minutes.
The value of the latest accounting software
People who work in finance and accounting are often tasked with producing real-time reports to help executives make these types of on-the-fly decisions. That’s not easy to do with some accounting systems that require downloading accounting data to Excel and then combining it with statistical data. Sometimes IT has to get involved or new fields have to be added to accounting tables, which takes time and can lead to mistakes or oversights.
Every delay costs the organization in several ways: Employees are spending their valuable time on the task, executives are being delayed, and the business is losing out on whatever improvements could have been made in the interim.
These issues are why many organizations have adopted advanced accounting solutions such as Sage Intacct, the best-in-class cloud ERP platform. Sage Intacct is based in the cloud and can be accessed anywhere, anytime, from a range of mobile devices. The customizable dashboards are easy for decision-makers to understand, and they can drill down with ease to get to the bottom of the data that matters most to them.
In addition, Sage Intacct uses what it calls “Dimensions” to better capture the business context of transactions, budgets, and more. The eight built-in Dimensions include project, department, employee, and item, and additional Dimensions can be added as needed. That means organizations can quickly create reports that analyze real-time business performance by whatever business driver interests them—without having to create and manage a chart of accounts with hundreds of segments.
Get the visibility you need
With better visibility, decision-makers can make fast, smart decisions with confidence. Insero & Co. can help you evaluate best-in-class software solutions and transition to solutions that give you real-time visibility—and a competitive edge.
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About the Author: Kimberly Gangi
