In this era of data, businesses that use their data stay competitive and grow at an accelerated pace. This is especially true for the financial data that most businesses produce. Although an immense volume of data is generated on a daily basis, it is usually unstructured. Deriving insights and growth-motivating information from such unfiltered data is almost impractical. Thus, this is where enterprises need Business Intelligence Platforms.
Business Intelligence platform, extract relevant information from the accounting data and present them in easy and appealing formats like graphs, charts, and maps. Using business intelligence as a tactic, enterprises can gain a competitive edge by predicting market conditions, improving cash flow management, optimizing operational efficiency, and boosting productivity. Businesses are fast realizing the importance of business intelligence platforms in achieving financial excellence.
From creating a data-centric business approach to empowering everyone with data, business intelligence software plays a key role in transforming your daily operations.
Let’s take a look at the top reasons why enterprises should invest in a business intelligence tool:
Turn your business profitable
Business intelligence software ensures that you have a comprehensive view of the data by eliminating traditional silos. Such an approach helps in assessing and estimating profitability across products, customers, sales channels, and locations.
Be immune to market changes
By efficiently studying your data you can predict industry mood, customer sentiments, and market trends to formulate your business strategies accordingly. With such agile business intelligence, you can smoothly adapt to business and market changes.
Understand customer trends
Customers are the cornerstone of every business and business intelligence tools help you concentrate on this crucial factor of your success. They help you identify and manage dynamic customer expectations and continuously improve their experience, thereby turning potential clients into key revenue sources.
Data-driven business decisions
Businesses can gain a 360-degree view of their cash flow and working capital at an enterprise level allowing them to make better and controlled decisions. With technologies like data modeling, AI, and ML, businesses can effectively consolidate and integrate data from multiple sources.
ZikZuk’s Business Intelligence Platform BFM
Business Finance Manager (BFM) is a Business Intelligence Tool built by ZikZuk, an SME Neobank that offers futuristic capabilities to help businesses manage data and drive maximum business value. It can be a great asset for your finance team to manage cash flow, make profitable business decisions and boost your business growth. The AI/ML-powered business intelligence tool syncs seamlessly with your Tally account and generates valuable insights with just a click!
Learn more about the exceptional features of BFM like smart reporting, automated payment collection, and credit access here.