Accountants No Longer Just Keep the Books

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Today, the accounting and finance employees of many organizations are no longer just keeping the books. They are proactive managers of the entire business, collaborating with department and operations managers to increase revenue and profitability. They are no longer looking at just the General Ledger and sub-ledgers but they are analyzing results from every data source in the organization with an eye toward process efficiencies and better decision making.

It’s not correct to say these folks are not technical–accountants and financial analysts are some of the most technical people in the organization. However, most of them are not engineers nor are they computer programmers. They are sophisticated users of many computer applications. They know all the nuances of the numbers inside and out and probably see the big picture more clearly than departmental managers. But like everyone else, if they don’t see the value in an application or computer system, they won’t use it. According to a study done by Ventana Research called Business Analytics, Benchmarking the Analysis of Data to Gain Insight, “Usability stands out as the most important consideration in selecting business analytics regardless of company size, industry, individual role or functional area. Functionality—that is, business capabilities—ranked second-most important.”

Because BIO is rich with content like 50 out-of-the-box reports, deep Dynamics connectors, pre-defined hierarchies, pre-programmed calculations, out-of-the-box cubes, and so much more, implementation is fast and usability is unsurpassed. BIO business intelligence provides immediate and accurate reporting and analyses in both tabular and visual formats. Users can use out-of-the-box reports as is or as a starting point for creating their own reports. Because ad hoc analysis is drag-and-drop or drill-down, questions can be answered almost as quickly as you can think of them. And advanced visualizations like bubble maps, spark lines, and demographic mapping makes anomalies pop out and discovery analysis more insightful.

To read the entire research report, Business Analytics, Benchmarking the Analysis of Data to Gain Insight, click here. The report contains research statistics along with a very good section called What To Do Next with recommendations for improving performance through business analytics. The one step the report is missing is to contact BIO Analytics Corp. at 203.327.0800 or info@bio4analytics.com to see how BIO can help you improve performance.

Join BIO for a free business intelligence webinar to get to see how BIO business intelligence software can help you meet your reporting and analytics needs. And please contact me at 203.705.4648 or by email at sandi@bio4analytics.com if you have any questions about BIO or business intelligence in general.

By Sandi Richards Forman of BIO Analytics Corp., Microsoft Dynamics Business Intelligence (BI) Solution Provider

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