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Posted by Corey Mendelsohn on April 15,2022
Financial Reporting is very important in all organizations. However, when it comes to certain companies, it can also be executed in ways that are deemed archaic in today’s fast-moving technological climate. This can be explained by the perceived exorbitant costs associated with organizations making changes after they have been set in their ways for many years. But what if expensive software upgrades and training were all worth it? What if migrations of the sort were affordable? Many of our clients who use SAP Business One with our add-on solution, QuickStart for SAP B1, understand the importance of making these changes. They have found that this Business Intelligence solution has allowed them to change their business for the best. Yes, our solution can be beneficial for all departments, but most of our clients usually have seen great success when starting with the office of finance. Here are 3 reasons why leveraging Business Intelligence can improve your financial reporting.
Many P&L reports and other statements provided by finance do not offer all of the information necessary to give decision-makers to get a full view of what is happening in the business. Without giving additional work to finance teams, Business Intelligence tools allow you to uncover additional data and insights with just a few clicks.
2. Uncover Trends to Make Smart Business Decisions
QuickStart for SAP B1 leverages IBM Cognos Analytics and Planning Analytics. Such technology allows users to uncover significant trends that can help you make better decisions and run a more profitable business. Spreadsheets as they are used today do not afford companies the same ability to access data and trends as Business Intelligence tools do.
3. Improve Communication & Transparency
Last but not least, communication and transparency will be greatly improved when your company leverages Business Intelligence tools such as QuickStart for SAP B1. Instead of being stuck with specific users, information can be readily available for various stakeholders to access. Instead of waiting for a monthly or quarterly report or meeting, users can pull current and past financial information they need. The ease of use of QuickStart empowers users to create and schedule reports relevant to them and their needs and eliminates back-and-forth communication.
To find out more about NewIntelligence’s QuickStart for SAP Business One solution and how it can improve your financial reporting, book a consultation with one of our Business Intelligence experts.
”NewIntelligence (NI) has been a joy to work with. We were initially concerned that we would not be able to fully use QuickStart as we don’t have an in house IT department. NI showed us how easy it is to use Quickstart and they continue to promptly support us if we have any questions.”
VP Sales & Marketing, Thai United Food Trading Ltd.
”As CFO at New West Oil, I selected NewIntelligence as the product of choice for helping to get data out of our SAP B1 database in a more user-friendly and meaningful way. Corey Mendelsohn helped guide us through the process in a very structured way, without pressure, but always with great follow-up and thoroughness. ”
CFO, New West Oil Company LLC
”We are currently working with Corey, expanding our use of the NewIntelligence tools and excellent Customer Service to ensure his solution fits our needs. It is a pleasure to work with Corey and experience his professionalism to ensure we expand our knowledge and find new ways to extract information from SAP B1”
VP Operations & Administration, Trux Accessories
”Working with NewIntelligence as our IBM Cognos partner has been a great experience. They are extremely knowledgeable, and their customer service is outstanding. The implementation phase went very smoothly, and they have since remained available, even reaching out to us regularly to see how we are doing with the tool. They have continued to patiently support us and help us evolve within the Cognos tool.”
Director of Finance, Fischer Technology, Inc.
”NewIntelligence listened to our issues and built a solution that met our needs with the ability to add more users and functionality as we grow. We see a good partnership where NewIntelligence will help us meet those challenges and empower Arani’s team to access good data.”
VP Operations & Supply Chain, Arani
”Following the IBM Cognos training the main user was very pleased with the sessions. The trainer knew the solution well and the training format allowed flexibility for real life questions… they even used our existing data to demonstrate functionality!! So in general, it was very professional and much appreciated.”
Manager, IT PMO, Domtar
”I would like to take this opportunity to thank the NewIntelligence team for having completed the mandate of implementation of their Cognos solution. Their promises have been fulfilled 110%. Following last week’s training, the excitement is at its peak and our people are looking forward to make use of the solution on a daily basis. A big thank you to all of you!”
VP Finance, Regal Confections Inc.
”Since the beginning of our partnership with NewIntelligence, we restructured our cubes, had numerous training and, recently, a major migration. We are very happy with our IBM Cognos 10 release. Our users love the new Workspace tools and they would never go back to the old version for the world.”
Vice President IT, CDMV Inc.