A backdrop of globalisation, digitisation, and an uncertain marketplace is placing great pressure on today’s business world. To stay competitive, decision-makers across all departments need access to the right information at ever-increasing speeds, at any time – and from different places. The big data explosion combined with a data environment that is constantly evolving means businesses must be able to plan quickly for change in order to survive. Regardless of the type of information needed, a flexible form of reporting is required which presents data in a meaningful manner.
The need for more joined up decision making
Despite this recognition, critical decision-making is often disconnected or fragmented. This is largely down to the use of inflexible or disparate manual methods of reporting. Studies show that 33% of businesses still use Excel spreadsheets without an underlying database or specific planning functionality, as their principal planning product[i]. Consequently, more than half spend too much time manually checking numbers each time a change is made, with 60% saying they spend too much time cleaning and manipulating data[ii].
The digital boardroom concept
More forward thinking businesses are already beginning to explore the benefits of the digital boardroom concept. In a world where speed and availability are crucial factors, digitising the boardroom has the potential to reduce the time taken to analyse and summarise information from different sources, while generating relevant data in real-time for different stakeholders.
An all-in-one decision making platform
When it comes to gaining boardroom advantages, powerful decision-making platforms like Board’s solution completely reinvent financial and C-Suite reporting and analytics. Designed to offer full control of business planning and performance, Board is the only solution that combines Business Intelligence, Predictive Analytics and Enterprise Performance Management on one single platform. Whether reporting on productivity in Operations, new customer wins in Sales, profitability in Finance, or headcount in HR; C-level decision makers can make confident decisions that help them reach their goals and drive digital transformation across the organisation.
Our partnership with Board
At Simpson Associates we’re proud to partner with Board, combining our extensive data expertise with Board’s leading technology platform. Together our focus is to help organisations analyse, simulate, plan and predict for the road ahead. We give business decision makers all the tools required to create and update databases, data presentations, and process models, in one single visual and interactive environment. Board users can see state of the business at a glance, with data at their fingertips to make better, faster decisions.
To see Board in action and start making a profound impact on your business performance, contact us today.
Blog Author
Michael Williams, Senior Consultant, Simpson Associates
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[i] https://bi-survey.com/budgeting-software-versus-excel
[ii] https://www.accountingtoday.com/opinion/the-debate-about-microsoft-excel
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