Tag: small business performance

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PowerBI, Data Warehouses and Combining QuickBooks Enterprise Data with Other Data

Businesses of all types are looking for ways to discover more useful information hidden in their systems. With a desire to implement business intelligence tools such as Microsoft PowerBI, companies need the ability to combine and analyze data coming from a variety of sources. The data can help businesses inform their conclusions rather than leaving it up to “gut”, supporting decision making in all areas of the company.

The tools for exposing and combining data are many. Enterprise ETL (Extract/Transform/Load) products have been available for many years. When it comes to SMBs and the applications they utilize, the options aren’t quite as prevalent nor as powerful. In most cases, businesses are left to working with data exports and a bunch of linked Excel worksheets.

Noobeh understands that businesses need their data available for integration, analysis and reporting. Noobeh are experts in deploying SMB applications such as QuickBooks Enterprise desktop, Acctivate Inventory, Sage ERP, MISys Manufacturing and more, all on the Microsoft Azure platform, positioning the applications and their data perfectly for use in business analytics and data warehouses.

Data warehouses and data lakes are growing in popularity because there is simply too much disparate data present in any growing business to effectively analyze it one data silo at a time. The number and variety of data sources in a single small business can be far larger than the company realizes until it attempts to capture and report on that data.

Any approach to data warehousing should consider the potential number and variety of data sources involved. This is among the reasons for Noobeh electing to work with Microsoft Azure and PowerBI. The Azure platform provides the infrastructure services and platform tools to enable data connections needed, powering the data warehouse and exposing the data to PowerBI and other reporting and analysis tools.

Even QuickBooks Enterprise desktop data can be extracted into its own standalone data warehouse, connected to a broader data warehouse and then combined with other business data. When businesses can combine data from their various solutions, even those which may still be desktop-bound, the power of the information and intelligence contained in it can be revealed.

Whether the purpose is process improvement, performance monitoring, management reporting or combined operational intelligence, collecting and storing the data is the first step. Noobeh is there to help make it happen.

jm bunny feetMake sense?

J

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Enhancing Business Insight: Noobeh Cloud Services and Azure-Based Solutions

Technology is evolving and so are our ways of using it. While the rules of accounting haven’t changed for years, the solutions we use to do the work have changed a lot. Yet there remain many businesses that haven’t yet embraced the idea of fully digital workflows, integrating and automating how data moves through the “system” to provide a comprehensive view of the business and how it is performing.

This is where accountants and bookkeepers can best serve their clients, by helping them implement the platforms and solutions which transform operations and provide greater insight into these areas.

Over 20 years ago, a technology model was developed which allowed businesses and the accounting professionals who serve them to work directly and collaboratively in the clients’ accounting system. By hosting QuickBooks and Sage desktop products on host servers, small business users and their accountants could both access the software and the data in real time.

This new approach was a boon for accountants, bookkeepers and others working with small business clients as it not only enabled closer work, but also provided those advisors an opportunity to do more – and more complex – work with the client. Yet many platforms and working models created barriers to broadening the scope of service or access to client systems, limiting to just basic accounting products like QuickBooks, and not effectively addressing the rest of the business need.

As technology has evolved, so have these transformations.

More accounting professionals understand the benefits as well as the necessity of moving from analog to digital workflows, removing manual entry and improving efficiency and accuracy of data. Yet this improvement doesn’t require changing accounting software and undoing years of learning and business knowledge. Rather, the platforms and connections must be the primary focus, replacing the manual with automation and smoothing out the bumps where data isn’t flowing at all. If the system isn’t in place to handle the complete flow of the data, there is a break. Like a pipe leaking water, this break results in data loss – which is also loss of business intelligence.

A key to all of this is the consideration of where the data ultimately resides. When business data exists in closed silos – whether web-based software or closed hosting platform – it takes a comprehensive approach to collection, storage and analysis. This is among the benefits to be derived from the modern cloud and Noobeh’s Azure-based hosting approach.

Noobeh’s hosting is not just about the desktop or the applications.

The cloud platform, and Azure in particular, also provides resources for data analysis and business intelligence, workflow and data flow automations, improved security and identity management, IoT and computing on the network edge.

For professionals looking to evolve their practices by helping clients go beyond basic recordkeeping and reporting, it’s time to delve into the operational details, data flows and development of real business intelligence and insight. Noobeh Cloud Services and Mendelson Consulting have the platforms and the supporting services to help bring it all together, improving profitability and performance of their clients through the intelligent application of technology.

jm bunny feetMake Sense?

J

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Preparing Your Business for Exploding Growth

Preparing for exploding growth in a business requires careful planning and strategic decision-making. To develop the information necessary to support these activities, businesses must implement their processes and systems to properly collect the data required. Unfortunately, many organizations fail to develop the systems which will support increased activity and business growth, only recognizing after the fact that the process support and the data they need isn’t there. To prevent being caught off guard with more business demand and not enough organization to support it, follow these recommendations to set the business up for success over the long run.

Set clear goals and adjust as required. You need to know what the business purpose is… the objective you hope to achieve with all this activity. Establish SMART goals – specific, measurable, achievable, relevant, and time-bound. With a set of smart goals and a well-defined objective, the business has a clear direction and a guide to assist in decision-making.

Build infrastructure that is scalable. If the business infrastructure can’t handle increased demand, the business can’t grow effectively. Scalable information technology and software systems, robust production capabilities with adequate human resource availability, and increased efficiency in supply chains will help the business meet increasing demand, while improved reporting and business intelligence helps to anticipate potential bottlenecks, allowing for plans to be developed to address them.

Make sure finance and accounting are set for growth. Strengthen overall financial management and review your financial processes to ensure they can accommodate growth. Implementing the right systems and software is necessary to not just optimize production and operations, but to provide a foundation for establishing sound accounting and financial practices which will help the business secure funding and manage cash flow effectively. A good way to evaluate your preparedness for growth is to prepare financial forecasts and stress tests to gauge your business’s financial resilience under various growth scenarios.

Streamline operations and automate where it makes sense. Evaluation of businesses processes is an ongoing task if your business is to continuously work to improve efficiency and effectiveness. Where opportunities for optimization and improvement exist, consider using automation and technology solutions to help streamline operations and reduce manual effort while remaining focused on enhancing customer experience and satisfaction through streamlined processes and improved service delivery.

Plan for Risk and Contingencies. You should try to identify potential risks and challenges associated with rapid growth, such as increased competition, supply chain disruptions, or changes in customer preferences. Develop contingency plans to mitigate these risks and ensure continuity of the business and operation. It may even make sense to consider diversifying your revenue streams to reduce dependency on a single market or product.

Monitor, adjust and adapt as needed. Key performance indicators (KPIs) should be regularly monitored, as should market trends, to stay informed about your business’s progress and to stay on top of industry developments. Use data analytics and reporting tools to gain insights and make data-driven decisions instead of operating on emotion. The business that plans for growth must remain agile and adaptable, adjusting strategies and operations as needed to accommodate changes in demand as they occur.

Preparation for rapid growth requires a proactive approach and continuous evaluation of your business’s readiness. Regularly reassess your strategies, make necessary adjustments, and stay focused on delivering value to customers as you scale.

Mendelson Consulting and the Noobeh cloud services teams are advisors and consultants with expertise in scaling businesses, and can provide valuable insights, guidance, and support throughout the growth process and beyond.

jm bunny feetMake Sense?

J

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Good and Proper Accounting for Small Business

There are many reasons why a small business needs to have quality accounting, and it isn’t just about the cash. Especially when a business is small or growing, a strong financial management and reporting process will benefit the business in a number of important ways. Managing the cashflow and keeping money in the bank to cover payroll and inventory is critical, but good accounting data helps support better decision-making for more than just cash management.

Accounting and financial systems help small businesses keep track of their financial performance. This includes monitoring income and expenses (money in and money out) and creating financial statements. By having accurate and up-to-date financial information, small businesses can make informed decisions about how to allocate resources and grow the business.

Tax compliance is another area where good accounting data is essential. Small businesses are required to file taxes just like larger ones, and proper recordkeeping helps small businesses stay compliant with tax laws and regulations and to avoid penalties and fines.
Securing funding for operations and growth is another area where quality accounting data is critical. Banks and investors usually require financial statements and other financial information before providing any funding. By having accurate and well-organized financial records, small businesses can demonstrate their financial health and increase their chances of securing funding.

Knowing more about the business is always helpful, but being able to look at trends and understand what the numbers indicate is the real power. From budgeting and forecasting to identifying and reducing areas of risk, accounting data is the foundation for developing a true understanding of business activity and performance and finding ways to improve.

Track business performance, remain compliant with taxes, and get funding or investment when it’s needed. With good and proper accounting supporting management decisions, decisions become more informed and relevant and are likely to bring a better result.

jm bunny feetMake Sense?

J

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Cloud Platforms for Client Data Help Reduce Workload Compression in Accounting and Finance

Accounting professionals have always viewed much of their work as being seasonal, waxing and waning with the turn of the months. From monthlies and quarterlies to the annual tax return, accountants’ work is focused as much on when as it is how much work must be completed. This regularity in the timing of the work has created somewhat of a false barrier to efficiency, largely because many professionals wait for the workload to appear, and it always appears at the last minute. Instead, we suggest leveraging technology to create new working models with clients to alleviate workload compression and deliver improved service and insight in real time, when it really matters.

Accounting is no longer considered to be a final resting place for financial and performance information. Accounting isn’t passive; it is an active participant in developing and managing data as it flows through a business. Professionals who continue to perform write-up and other time-consuming “re-accounting” tasks will often find that their approach removes them from the truly interesting part of the job. Instead, when the professional participates with their clients’ businesses and information on a regular basis, the accounting data can be adjusted so it is treated properly from the start. Better data provides for more informed decision making, and this is the real benefit the accountant can deliver.

The key for every accounting professional is the technology and how it might be applied to decompress the workload and even things out. Structuring standard processes for client intake, implementing workflow tools to closely manage data and deliverables, and improving the speed and quality of internal communications are all areas where tech can make the work more consistent and manageable. Much focus can be placed on the technologies a modern accounting firm would apply to its own workflows and data handling processes, yet there is often little consideration for how the accounting professional might maximize efficiency as well as effectiveness in working with the client data at the source.

Most fundamentally, accountants typically work in places where the client or data is not. Business is done at the business location, and that’s usually not where the public accountant is. Even in large enterprise, the work gets done and data created by others than those in finance, so it is up to finance to find the way to gain access to the data and ensure its proper treatment throughout the system. This is among the reasons for the emergence of remote access solutions and services. Through remote access the professional can access the information of the client businesses, performing data entry or adjustments directly into the client’s accounting system and avoid lengthy reviews and write-ups later.

While remote access solutions may work for some, the time-sharing approach that leaves the client waiting while the accountant does the work does little to maximize the efficiency of either party. Instead, an online working model that allows the client and the accounting professional to work independently yet collaboratively addresses the needs of both.

Online working models in no way require web-based or online applications as the sole foundation. For many operations, online or web-based versions of accounting and line-of-business applications lack the cohesion and functionality that more robust desktop and network applications can provide. Where some businesses have limited functional requirements that a simpler online app may meet, others continue to rely on the maturity and proven functionality of desktop solutions. For these businesses, the adoption of virtual IT platforms brings the “online” working model, system agility and managed service potential that are at the center of web-app popularity.

Once the accounting professional has access to the clients’ systems as well as the data they produce, the accountant can take a more proactive approach to correction and adjustment, as well as gaining a basis for providing insight and advice. The after-the-fact approach to accounting is the essential flaw in attempting to decompress the workload of an accounting practice. As long as the tabulation and treatment of business data remains a job to be completed at the end of the period, there will always be urgency in completing the task and the value of the work product is unlikely to increase.

However, through the intelligent application of technology – online application services and virtual computing platforms – accounting professionals can not only help their clients embrace transformative efforts to improve business and performance, but the accountant can relieve workload compression while delivering even greater value on a continuous basis.

jm bunny feetMake Sense?

J

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Building Smarter Businesses

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.

jm bunny feetMake Sense?

J