Achieving Growth, Efficiency and Sustainability Through Greater Business Intelligence
Every business needs to know how they’re doing so they can find ways to do better. This is what business intelligence is, and it’s the key to taking advantage of new opportunities and building success.
Consider the IBM commercials that were aired, about developing models for the prediction of traffic conditions in Singapore and “infusing intelligence into the systems and processes that make the world work”. What they’re saying makes sense, but most business owners would likely say that it addresses bigger issues and doesn’t really speak to them. Yet those messages are for even the smallest of enterprises because you must really understand what’s happening in a business – and how it’s happening – to improve and excel.
The ability to leverage technology to collect data and analyze it in real time can make a huge difference, whether it is in a small business or a global system. With an intelligent approach to enabling the enterprise, we can build smarter and stronger businesses.
“Together, we have to consciously infuse intelligence into our decision-making and management systems, not just infuse our processes with more speed and capacity . . . We are moving into the age of the globally integrated and intelligent economy, society and planet. The question is, what will we do with that?”
former IBM chief executive Sam Palmisano
Business software and systems have reached the point where data collection and raw business intelligence is being gathered in real time by businesses small and large. This is where businesses must transform, replacing paper-based systems with digital workflows and enabling the collection of real-time information as data for analysis.
Forward-thinking accounting and finance professionals realize that accounting is not simply the final resting place for after-the-fact financial data. The finance department is where collected data is turned into actionable information, and information is power.
The competitive landscape for businesses of all kinds is changing along with the progress and adoption of technology. Business owners and accountants should learn to use the tools which will help them find the patterns and trends in the system that help to forecast more accurately.
Working with NOOBEH cloud services and Mendelson Consulting, accounting professionals and business owners can implement the agile platforms and connected technologies to help achieve the benefits of growth, efficiency and sustainability envisioned by the Smarter Planet initiative.