One of the bottlenecks in any organization, usually seasonal, is the reporting system. The large amount of resources dedicated to preparing, distributing and filtering reports is much more useful and efficient when you have a single system that allows you to be self-sufficient, in which it is much easier to access the required information.
This problem band data is a source of inefficiencies, with an accumulation of resources in low-value tasks, which ultimately has a negative impact on costs. As resources are finite, this
means that they are not being dedicated to other tasks of greater value.
From all the conversations I have had with financial professionals, it is clear that the high number and complexity of spreadsheets circulating in organisations, theoretically shared but in practice replicated (and seemingly reproducing themselves, creating a new species that, like a virus, spreads uncontrollably), generate indecisions, doubts, inefficiencies; loss of time and money checking redundant information. Some speak of it as a “monster”. Others suffer in silence, believing that accessing a Business Intelligence system is something unattainable.
However, the reality is that business intelligence systems can be accessed in an affordable way. Most financial departments are clear about what they need to measure to maintain the strength of their companies and, in increasingly closer collaboration with General Management, meet the business objectives that they themselves help to set. They are also clear about what they should demand from technology to align all these objectives.
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In this sense, a large majority of those interviewed agree that increasing the quality of information and the efficiency of its management results in great savings. And this is more or less independent of the size of the company. Now they can even move to the cloud, saving by incorporating Cloud Computing as another access channel to interesting solutions.
