Not all business processes can be measured in pure financial terms. Some important business drivers which have measurable impacts on key business objectives and overall business performance, cannot be measured in $s.
Likewise some business drivers which can be measured in $s, need to be related to other measures to make them more meaningful (e.g. Increasing Support costs per call serviced tell a different story than reducing Support costs). Measures such as these are often called Key Performance Indicators (KPIs) and give management real Business Intelligence “BI” that helps them make better informed decisions on how to improve performance.
accountsIQ's BI Approach
The explosive growth of the internet and online computing can now give management access to information anytime-anywhere . To compete in this millennium, a business needs an edge to keep it sharp and focused.
accountsIQ gives this edge through its BI features. In addition to a full suite of accounting and commercial modules, accountsIQ incorporates an approach to business analytics that sets us apart from our competitors.
Our Business Intelligence toolset enables the financial data from the accounting and commercial modules to be analyzed whatever way is required - by business line, location, cost center, department, project, job, profit center etc.
This financial data can then be combined with user defined statistics that are analyzed in the same way. Overheads can be automatically allocated across the analysis groups using a statistical measure as the allocation basis . This would provide a more accurate measure of the true contribution/profitability of each business line, profit centre etc.
Key Performance Indicators
KPIs can be defined as any combination of these financial results and statistical measures. All financial results, statistics and KPIs can be extracted using easy to use tools. You can benchmark against budget, revised budget/forecast or historic results. This enables accountsIQ to be a full repository for all Business Intelligence including:
- KPIs based on Statistics, financials or both
- SLA performance measures
- Customer satisfaction measures
- Scorecards
- Benchmarking
All this can be accessible in realtime on a user definable Management Dashboard or extracted to Excel for further analysis. For groups and multiple entity businesses, these can show consolidated results for the group or benchmark KPIs across any group of similar businesses - all over the web.
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