July 2, 2019
IBM researcher, Hans Peter Luhn concluded in the 20th century that the ability to understand the inter-relationships of presented facts in a way such that it guides a designated action towards a desired goal” as Business Intelligence. In this blog we will explore the top benefits of using Tally BI Tools.
How Business Intelligence Enhances Decision-Making
Business Intelligence (BI) is a technology-driven process for data analysis, which delivers key business insights, and helps users to make informed decisions. In the modern business landscape, BI tools have become essential in every company. One of the key functions of any BI solution is to generate quick and easy reports. From financial budgets to inventory lists to employee performance, BI tools can generate insightful reports on every aspect of the business. This allows managers and executives to make informed business decisions based on the findings of the reports.
Ideally, a Business Intelligence system provides the organization easy access to the information, the employees, partners, and clients need to do their jobs effectively and efficiently. The role in BI (Business Intelligence) involves tasks related to that of data mining, online analytical processing, querying and reporting to analyze an organization’s raw data using a variety of software applications.
Business intelligence is increasingly becoming a strategic differentiator for today’s leading organizations. Provides business the ability to track, understand, and manage information within an organization. BI tools have also gone through an upgrade. Business Intelligence, in today’s age, involves not only analysis of transactional data but also includes predictive analysis nowadays.
EasyReports: A Comprehensive BI Solution
EasyReports is one such BI tool that provides affordable analytical and reporting solutions. A BI tool with Tally integration can produce flexible, timely reports to provide meaningful, actionable data. Users can clearly see, sort and analyze sales and pricing information, as well as inventory levels, payables, and receivable. They can also analyze division results, the root cause of sales decline, and the need for additional resources and training. BI tools help an organization to run smoothly. One of the main functions of a BI tool is to give real time analysis thus converting the transactional data into actionable which helps to increase company’s efficiency.
The main benefits of Business Intelligence integrated with Tally are:
Easier access to data
When new data is entered into a Tally, it gets stored on the Tally server. This makes it easier for employees as well as the management to access data anytime they want. There is no need to browse through old files and folders.
Increase in productivity
With BI solutions being system driven; many business processes had become automated. Earlier a number of daily operational tasks, which used to be carried out manually, are now performed by the automated system. BI tools such as EasyReports can be integrated with Tally software, which allows users to import data from their Tally servers to BI platform in just a few simple clicks. This helps in increasing productivity of the entire workforce.
Provides Accurate for Reporting
With all data stored in a centralized location through BI integration with external applications, employees can generate quick and precise reports in less time. Managers can easily view the company’s income, expenses, sales performance, employee productivity, inventory records and stock values all at one place. BI reporting tools help users to prepare comprehensive and detailed reports by comparing data on a yearly, monthly or quarterly basis. This helps managers to gain better insights and understand the organization’s position in the market.
Generating New Revenue Opportunities
Business intelligence (BI) tools are able to identify key trends and patterns into the workings of a business. It can provide critical insights and discover key connections between two separate departments, which may seem unrelated. This can help managers to find out about potential revenue generating opportunities in a business that may otherwise have gone unnoticed.
Gain consumer insights
With the aid of a BI solution, companies can gain new insights about consumer behavior. It also helps in understanding the current market trends. Companies can analyze current buying trends to understand consumer preferences and dislikes. Using this information, manufacturers can create new products that align with market demands. This helps improve the company’s profitability.
Cost cutting
Business Intelligence tools manage all aspects of a business, including finance, accounts, inventory management, sales, and employee evaluation. They track various departments to ensure efficiency. A BI tool helps businesses control costs by identifying areas for savings in specific departments.
Higher return on investment
Organizations, those have implemented the right BI tool, gets rewarded with quick reporting, increased productivity, decreased operation cost, more market awareness, and easier access to data. All these positively contribute to a company’s ROI.
If you are a small business, and want to avail all the benefits of a complete BI solution, EasyReports is just what you have been looking for. You can find more at www.easyreports.in
EasyReports is one of the leading business intelligence tools available in the market that provides affordable analytical and reporting solutions. The primary targets of EasyReports are small and medium sized companies. The BI solution provides scalable, flexible and comes with complete integration capabilities for Tally ERP.9, Microsoft NAV and SAP B1. These are the above points for the benefits of using Tally BI Tools.
For details on the Tally, data used in EasyReports BI please contact us at contact@easyreports.in