Having the right software and technology is essential to growing a business – yet many companies feel the constraints of inadequate systems. Outdated applications, manual processes, and countless integration challenges consume time and resources. So how do you know when you’ve reached the tipping point? This blog series will take you through the top 5 signs you’ve outgrown your systems.
As your organization grows, data, calculations, and transactions also grow, in both volume and complexity. If your decision makers must constantly make decisions based on incomplete or inaccurate data, or delay decisions until full and accurate reports become available, then critical business decisions are compromised.
Timeliness and accuracy of data have a direct impact on the ability to make better-informed decisions, reports analyst firm Aberdeen Group. The group also notes that best-in-class companies are taking strides to reduce time to information, generate a common view of data, and arm business decision makers with high-quality data to support enhanced business performance.
Aberdeen Group reports that 75% of best-in-class companies are able to edit, share, store, and finalize content to provide users across multiple business units with the tools and information to do their jobs1 – making timely reporting a key component of best-in-class operations.
To alleviate headaches about reporting, organizations must replace “gut feel” choices with fact-based decisions by providing visibility into key business results. Rapidly growing small businesses and midsize companies can improve reporting and increase visibility by replacing multiple spreadsheets and data reconciliation with a single integrated solution that provides timely access to accurate information and business intelligence.