Organizations spend a lot of time and money preparing, circulating and approving annual budgets, then routinely reforecasting as often as is feasible throughout the year. Today for many organizations this is an arduous, painstaking process that is usually limited to just financial data, and not operational data. As organizations' data continues to amass, looking at significant amounts of prior data, identifying patterns and trends, and using this data to better anticipate business operations and performance becomes more and more difficult. Business Intelligence & Analytics is now a must-have to not only help with forecasting, but to help answer critical business and operational questions such as:
- What challenges will my company face in the upcoming years?
- Which services are my customers likely to be interested in?
BI and analytics are now top of mind among most CFOs. In a Gartner Group survey from 2013 entitled “Gartner Financial Executives International CFO Technology Study,” 15 of the top 19 business processes that CFOs identified as requiring improved technology support are largely addressed by BI, analytics and performance management technologies.
The top four priorities among those CFOs surveyed included:
- Performance measurement/scorecard/dashboard
- Financial reporting and consolidation
- Budgeting, planning and forecasting
- Data warehouse
These top four priorities are actually modules within BI360 from Solver. Solver is a trusted Tribridge partner, and has been named to Gartner’s Magic Quadrant for Corporate Performance Management suites. The BI360 platform allows organizations to budget, forecast and prepare for “what-if” scenarios as often as desired, as well as expand business modeling beyond financial data to include operational data, Human Resource Data, production data, and more - all via the web and Microsoft Excel.
Because BI360 comes with out-of-the-box integration to Microsoft Dynamics and NetSuite, it only takes a fraction of the time to implement compared to other Corporate Performance Management solutions.
For more information and a demo of BI360, check out our webinar.