Posts – insightsoftware

Dresner Wisdom of Crowds 2023: Enterprise Performance Management Market Study Recommends insightsoftware

insightsoftware — Tue, 31 Oct 2023 15:28:26 +0000

insightsoftware has once again been named a leader in the 2023 Wisdom of Crowds® Enterprise Performance Management Market Study by Dresner Advisory Services, earning high marks for both customer experience and vendor credibility in the enterprise performance management (EPM) sector.

With EPM solutions for financial reporting, operational reporting and analytics, budgeting and planning, and more, insightsoftware empowers leaders from organizations worldwide to unlock greater financial intelligence and build resilient businesses.

What is Enterprise Performance Management?

Performance management is an approach that integrates enterprise-class modeling, planning, BI, and analytics in a single, or closely linked system. Enterprise performance management (EPM) is a key element of performance management. It enables an organization to plan for the impact of various internal and external factors on its future performance and business outcomes.

EPM includes strategic, operational, and financial planning and forecasting. EPM systems also include reporting and analytics capabilities that enable organizations to set goals and objectives and track performance against those objectives, as well as satisfy many regulatory and statutory reporting requirements.

Unsurprisingly, adoption of enterprise performance management continues to grow, with the share of organizations that use EPM software increasing from 54% in 2022 to 62% in 2023. Enterprise performance management is clearly a mainstream technology that is becoming increasingly widespread.

Excellence in EPM: Strategies for Top Performers

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Among organizations that already use enterprise performance management software, half (49%) plan to increase their EPM user base. This indicates organizations recognize the benefits EPM solutions provide, including improvements in efficiency and agility in collaborative planning, analytics, and reporting. In fact, nearly 83% of respondents rate enterprise performance management as critical, very important, or important to their organization’s overall BI and application strategy.

The data shows a relationship between success with BI and the importance of enterprise performance management, with 84% of organizations that are completely successful with BI rating EPM solutions as critical, very important, or important.

insightsoftware Named a Leader in EPM Solutions

The 2023 edition Wisdom of Crowds® Enterprise Performance Management Market Study is Dresner’s broad assessment of the EPM market, providing a comprehensive look at key user trends, attitudes, and intentions. The report offers a real-world perspective on the market, including analyses of adoption and deployment, success with BI, plus a robust industry section.

The Dresner Customer Experience Model maps metrics like the sales and acquisition process, technical support, and consulting services, against general customer sentiment. The Vendor Credibility Model measures value for money against user confidence. insightsoftware scored as an Overall Leader in customer experience and a Trust Leader in vendor credibility and earned a perfect recommend score.

To view the full report and learn more about insightsoftware’s EPM solutions, click here.

Dresner 2023 EPM Market Study: insightsoftware Ranked as Service Leader and Trust Leader

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Jet Reports 23.3: Faster Than Ever

insightsoftware — Tue, 31 Oct 2023 15:10:22 +0000

If you are looking for a reporting solution that can handle complex data and deliver fast results, you might want to check out Jet Reports version 23.3, the latest release from insightsoftware.

Jet Reports is a powerful Excel-based reporting tool that directly connects to your Microsoft Dynamics ERP and allows you to create custom reports and dashboards with ease using real-time data. Jet Reports 23.3 comes with significant performance improvements that make your reporting experience faster and smoother than ever.

How Fast Is Jet Reports 23.3?

Based on performance benchmarks that tested a variety of commonly used report-types with different data sizes (up to 1 million rows), Jet Reports 23.3 has improved its reporting run time performance by more than 80% for most business cases/reports. This means that you can run your reports in a fraction of the time it used to take and get your insights even faster.

You also don’t have to worry about any sort of latency or need to refresh data sources as Jet Reports utilizes a direct connection to your chosen Dynamics ERP. No matter how simple or complex the report you want to run, you will notice the difference in speed and efficiency.

You may wonder how we achieved such a significant performance improvement. The latest Jet updates include a combination of techniques such as optimizing the query engine, reducing the number of database calls, caching data locally, and parallelizing the processing of multiple reports. These methods not only improve the performance of Jet Reports, but also reduce the load on your data sources and network.

Jet Reports for Microsoft Dynamics 365 GP, NAV and D365 Business Central Overview

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Why Is Performance Important?

Performance is one of the key factors that determine the quality and value of a reporting solution. A fast reporting solution can help you:

Save time and resources: You don’t have to wait long for your reports to run or allocate extra resources to handle the workload. You can focus on analyzing and acting upon your data, rather than waiting for it.
Gain real-time insight: With a fast reporting solution you get instant insights into financial data and KPIs, empowering your business to adapt quickly to changing market conditions and streamline operations based on up-to-date insights.
Improve accuracy and reliability: A fast reporting solution can reduce the risk of errors and inconsistencies in your data, as well as ensure that your reports are always up to date and reflect the latest changes in your data sources.
Enhance user satisfaction and adoption: A fast reporting solution will increase user satisfaction, as they can quickly and easily get their reports without any frustration or hassle. This can also increase the adoption and usage of your reporting solution across your organization.

How Does Jet Reports Compare to Competitors?

Jet Reports is not only fast, but also flexible, scalable, and affordable. Jet Reports offers several advantages over its competitors, such as:

Excel-based interface: Jet Reports leverages the familiar and powerful Excel interface, which means that you don’t have to learn a new tool or language to create your reports. You can use all the features and functions of Excel, such as formulas, charts, pivot tables, slicers, etc., to customize your reports and dashboards.
Report automation and distribution: Jet Reports can automate the scheduling and distribution of your reports via email or SharePoint, so that you can always get your reports on time and share them with your stakeholders. You can also use Jet Hub to access your reports online from any device or browser.
Licensing and pricing: Jet Reports has a flexible licensing model that allows you to choose the best option for your needs and budget. You can choose between different subscription bundles optimized for the needs of SMB and MLB businesses.

What’s Next for Jet Reports?

insightsoftware is committed to continuously improving the performance of Jet Reports, as well as adding new features and functionalities that enhance its capabilities. Some of the upcoming features that are planned for future releases include:

Jet Hub Hosting: Let insightsoftware host your hub in the cloud, eliminating the need for customers to deal with environment maintenance so they can focus on their data.
Web Capabilities: Create, manage, and run your Jet Reports data via the web browser utilizing Excel Online. The Hosted Hub will also be optimized for mobile device browsers.
AI Technology: Get automated help building reports, troubleshooting formulas/errors, and providing users with relevant support articles. This will help to optimize your reporting efficiency and performance.
New/Updated Content: Refreshed pre-built reporting packages with simplified templates, new reports for additional business cases, and a modernized look and feel.

Try Jet Reports 23.3 Now

Jet Reports 23.3 is a major milestone in the development of Jet Reports, as it delivers significant performance improvements that make it faster than ever. If you are looking for a reporting solution that can handle complex data and deliver fast results, you should give Jet Reports 23.3 a try. You will be amazed by how much time and effort you can save with Jet Reports.

To learn more about Jet Reports 23.3, you can visit the official website or read the release notes. You can also contact insightsoftware to request a demo of Jet Reports 23.3.

The post Jet Reports 23.3: Faster Than Ever appeared first on insightsoftware.

Three Ways to Tell Your Story With Power BI and CXO

insightsoftware — Mon, 30 Oct 2023 20:05:15 +0000

Finance teams are turning to automation for fast processing and actionable insights. This shift toward these stand-alone business intelligence tools is motivated by a need for rapid, informed decision-making in the competitive business landscape, allowing organizations to adapt swiftly to market changes and optimize their processes for better outcomes. However, leveraging these insights can be challenging if your reports and data don’t speak to each other.

Disconnected enterprise performance management (EPM) operational reporting can present significant limitations and challenges for your business. It can lead to outdated and inconsistent data, hindering timely decision-making processes. And maintaining this data consistency becomes difficult when information is spread across various disconnected systems, leading to errors and inefficiencies and an inability to tell your story.

Collaboration and communication can also be hampered, as sharing and updating reports becomes cumbersome and time-consuming. Moreover, the lack of real-time updates can result in missed financial opportunities and market strategies, impacting your organization’s overall efficiency and competitiveness in the market.

CXO Dashboards Meet Power BI to Turn Static Data Into Dynamic Insights

A recent survey by insightsoftware reported that 89% of organizations feel they are not getting high-value data insights from their EPM. This means that you likely aren’t able to access the data you need the way you need it.

That is why adopting a robust business intelligence solution that integrates with your EPM system could just be the solution you seek. By transforming static information into rich, dynamic report packs with integrated commentary you can tell the true story behind your numbers.

Together, CXO and Power BI provide you with access to insights from both EPM and BI data in one tool. You can now elevate their decision-making process by drilling down into more detailed data, and enriching EPM figures with non-financial data.

Transforming Financial Reporting with Dynamic Dashboards

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1. Expand Your Reporting Insights

The EPM data reported through CXO are designed to provide you with aggregated insights. It can, for instance, tell from which country profit growth is coming. However, eventually you aren’t able to drill down further if you want to deep dive into this profit growth. This is because the transactional detail necessary for such analysis is captured in different software. Power BI struggles with connecting to EPM systems and representing EPM data. However, it is designed for transactional data reporting. By embedding Power BI reports in CXO dashboards, you can have the best of both worlds. You’ll have access to insights for both strategical and tactical decision making in the same tool.

2. Gain Richer Data Access

Beyond delving deeper into EPM data, you no doubt aim to enrich your CXO dashboards with information beyond what EPM systems offer. With the incorporation of Power BI reports, you can enhance CXO dashboards with diverse data points, such as NPS scores, ESG metrics, and project details. This integration consolidates all pertinent information within CXO, providing management with a comprehensive overview in one centralized location, eliminating the need to juggle multiple tools.

3. Benefit from Dynamic Data Interaction

The integrated Power BI reports respond to the filtering selections made within CXO. When you switch from one month to the next in CXO, the embedded Power BI report automatically adjusts to reflect the changes. Notably, member names in CXO and Power BI sources often differ.

By adopting this integration, you’ll unlock real-time insights, streamline processes, improve collaboration, and adapt to the ever-changing financial landscape, ultimately contributing to your organization’s success. With CXO and Power BI, you’ll be able to see your EPM, operational, and non-financial data in the same dashboard, give your management complete information with financial and non-financial KPIs, and be-able to do deep dive analyses from aggregated to transactional level. This will let you help better tell your company’s financial story.

If you would like to learn more about CXO’s interactive EPM reporting firsthand, contact us today to arrange a demo.

The post Three Ways to Tell Your Story With Power BI and CXO appeared first on insightsoftware.

Are You in Control of Your JDE or EBS Data?

insightsoftware — Thu, 26 Oct 2023 20:51:42 +0000

Reporting teams need to go beyond native reporting with deeper, flexible analysis of their data. Without the right control, they struggle with inflexible report layouts and spend days dumping data into spreadsheets, limiting the available time to focus on value-added analysis.

If your finance team is using JD Edwards (JDE) and Oracle E-Business Suite (EBS), it’s like they rely on well-maintained and accurate master data to drive meaningful insights through reporting. For these teams, data quality is critical. They need confidence that master data, encompassing customer details, product information, and supplier data, is updated and error-free.

Data Quality Challenges for Reporting Teams

Poor data quality impacts your team by introducing inaccuracies, inconsistencies, and inefficiencies into their reporting processes. Incomplete, outdated, or erroneous data means your team is generating unreliable insights which can lead to poor decision-making. Low data quality causes not only costly errors and compliance issues, it also reduces stakeholder confidence in the reported information. None of which is good for your team.

Diving deeper into the top three challenges, teams typically encounter:

Data integration and complexity: One of the key challenges is integrating data from various sources and modules within your ERP systems. Both JDE and EBS are highly complex and may involve multiple modules that store data in different formats. Ensuring that data is integrated seamlessly for reporting purposes can be a daunting task.
Data quality and accuracy: Accurate, high-quality data is crucial for meaningful reporting. Inaccurate or inconsistent data leads to flawed insights and decisions. Maintaining data quality within JDE and EBS can be challenging due to the volume of data and the constant changes that occur in ERP systems.
Performance and scalability: As your organization grows, the volume of data in JDE and EBS systems increases. Reporting on large datasets can impact performance, leading to slower query response times and lags in real-time reporting.

Addressing these challenges requires a combination of technical solutions, data governance practices, and a clear reporting strategy. You may need to invest in data integration tools, data quality management processes, and performance optimization measures to overcome these obstacles and derive valuable insights from your JDE or EBS systems.

The Ultimate JDE Reporting, Planning, and Analytics Tool

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The Tools Needed to Solve the Challenges

As users of JDE or EBS, your team must have relevant, real-time insights so they can make more robust decision-making. They need a solution that doesn’t require complex technical tools to dig into their master data for the meaningful insights they must deliver. Accessing a vast library of pre-built, turnkey content templates for finance and operations reporting can ensure your team a fast time to value with minimal training required.

Seek a solution that simplifies your users’ admin experience with a host of controls, including full integration with EBS and JDE security, as well as workflows, approvals, and user types to control access and provide a full audit trail. Enable access to master data to boost trust in accuracy and deliver higher-quality reports.

Fortunately, there are products purpose-built for JDE and EBS that directly link to master data and offer the advanced, intuitive reporting functionality your team craves. With the proper tool, your team can solve their JDE or EBS data challenges by bringing all key metrics together in one place using easy-to-consume, real-time web dashboards to display meaningful visualizations. Strengthen your organization’s data culture by involving more users in the data environment.

Hubble Enterprise Delivers the Right Master Data Experience

Hubble is an integrated suite of performance management tools for JD Edwards and Oracle E-Business Suite. It offers reporting and analytics in a single quick solution that fully understands your ERP. Hubble integrates your critical business systems so users at all levels can interact with live data and return data with extraordinary speed. With this type of visibility and access, everyone can easily understand, manage, and predict the business.

Hubble Enterprise offers Designer, Power, and Viewer user types to ensure that the right people can access the right data, straight from your JDE or EBS system.

Save time by accessing more pre-built templates: Access standard pre-built content covering all JDE and EBS modules, including Accounts Payable, Accounts Receivable, Fixed Assets, General Ledger, Human Resources, Inventory, Purchase Order Processing, and many more.
Add context to your data with web visualizations and metrics: Bring all your key metrics into focus in one place using easy-to-consume, real-time web dashboards to display beautiful visualizations. With Hubble Enterprise, users across your organization can monitor KPIs, analyze trends, collaborate through discussions, and drill into underlying ERP transactions.
Reach more users with web viewer licenses: Support decision-making across the wider organization by providing more teams with access to trusted Hubble data. The web viewer license enables business users to consume prebuilt reports and dashboards, providing an intuitive experience to open, refresh, filter, drill, and export workspaces.

Hubble provides real-time reporting and analytics purpose-built for JD Edwards and Oracle EBS that speeds up your financial processes, shrinks reporting cycles, and leaves more time for analysis. To learn more about Hubble, check out this blog on the benefits the tool provides to master data users.

Hubble Brochure | Learn How We Help

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Top 5 Resources to Understand the Role of AI/ML in Embedded Analytics

insightsoftware — Wed, 25 Oct 2023 15:17:06 +0000

Every day, more companies unlock the potential of artificial intelligence (AI) and machine learning. When AI and machine learning are utilized in embedded analytics, the results are impressive. Much of this can be seen in modern solutions that offer advanced predictive analytics.

Together, predictive analytics and AI can help application teams by streamlining processes, generating personalized recommendations, and creating a more intuitive and efficient user experience. By leveraging these technologies, your team can build stronger customer relationships, increase user satisfaction, and ultimately achieve your goals more effectively.

Predictive analytics refers to using historical data, machine learning, and artificial intelligence to predict what will happen in the future. This historical data is fed into a mathematical model that considers key trends and patterns in the data. The model is then applied to current data to predict what will happen next.

Your customers can use predictive analytics to foresee if a change will help them reduce risks, improve operations, and/or increase revenue. At its heart, predictive analytics answers a common user question, “What is most likely to happen based on my current data, and what can I do to change that outcome?”

Resources to Help Your Team Understand Predictive Analytics

These resources will equip your development team with the knowledge to effectively navigate the embedded analytics landscape alongside AI and machine learning, covering issues like predictive-versus-augmented analytics, integrating AI and machine learning with predictive analytics, and much more.

Predictive vs. Augmented: Analytics Strategies for the Future: In this video, learn how streamlining data analysis with augmented analytics makes it more accessible to a larger audience, enabling more of your users to gain value from the data. Dive deep into augmented analytics, which uses combination of AI and machine learning to automate various stages of the analytics process.
The Definitive Guide to Predictive Analytics: In this white paper, learn how embedded analytics is boosting user adoption, creating apps people love, and changing the game for software and SaaS providers. Dive into how predictive analytics answers the question of what is most likely to happen based on current data, and what can be done to change that outcome, and how it uses historical data, machine learning, and AI to predict what will happen in the future.
Harmony in Data: Empowering Embedded BI with Logi Symphony’s AI, Machine Learning and Predictive Analytics: In this video, discover how predictive analytics is like a crystal ball for your customers. Harmony in Data: Empowering Embedded BI with Logi Symphony’s AI, Machine Learning and Predictive Analytics: In this video, discover how predictive analytics is like a crystal ball for your customers. It uses past data, machine learning, and smart AI to forecast what’s coming down the road. In the embedded analytics world, application teams provide their users with software tools that collect data that drives decision-making. Today, your customers need predictive analytics to add more value to their organizations through better use of data.
The 5 Levels of Analytics Maturity: From Basic BI to Sophisticated Differentiators: Do the analytics in your application make you stand out from the crowd? In this white paper, see where your offerings fall on the analytics maturity scale—and learn how sophisticated capabilities can differentiate your product. The best way to make analytics a natural part of everyday work is to embed it seamlessly into business applications. And the more sophisticated capabilities you can weave into the fabric of your application, the higher your user adoption and satisfaction will be.
Drive Better Decision-Making With Data Storytelling: As your customers can find out in this white paper, great storytelling should hold your attention. It’s a fundamental human skill, but the concept of utilizing embedded analytics and data to tell stories is still new and evolving. Fully understanding the benefits is essential to making the most of analytics.

Go here to learn more and see if Logi Symphony is right for your customers.

The Embedded Analytics Buyer’s Guide

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Remove Data Siloes to Increase the Value of Your SAP Reporting

insightsoftware — Tue, 24 Oct 2023 16:24:35 +0000

Your SAP system collects vast amounts of financial and operational data. But you only tap into a portion of SAP’s potential power when this data is kept siloed within separate departments, systems or spreadsheets. CFOs are under increasing pressure to provide actionable insights that guide leadership decision-making. In today’s turbulent market, it’s key that these insights include data inputs from across the whole organization, not just finance.

Our recent Hanover report echoes this sentiment. 48% of finance teams are seeing efficiency losses from global economic disruptions. To combat close this efficiency gap, the number one CFO priority is “increasing collaboration across teams and departments”.

To achieve oversight and agility, your finance team needs the right tools to aggregate all relevant data sources and provide the comprehensive analysis your leadership craves.

Why Finance Teams are Struggling
with Efficiency in 2023

Disconnected SAP Data Challenges

Siloed data poses significant collaboration challenges to your SAP reporting team like reporting delays, limited visibility of data, and poor data quality. Unable to collaborate effectively, your team will struggle to promptly respond to leadership needs and custom data queries required to navigate your business through troubled waters.

The top three challenges facing your SAP reporting teams’ data collaboration are:

Data integration complexities: You face reporting delays due to the complexities of integrating data from various silos.
Limited data accessibility: Restricted data access obstructs comprehensive reporting and limits visibility into business processes.
Data quality concerns: Data quality is impacted by inconsistent and incomplete data, stifling accurate reporting and analysis.

To give you a real-world application, supply chains all over the world are having to adjust. . Chief supply chain officers (CSCOs) require comprehensive oversight of organizational data to effectively manage supply chain efficiency.

Financial data helps CSCOs understand the financial implications of their decisions, while operational data provides context and actionable insights into how the supply chain is functioning on a practical level. If your SAP data is siloed, CSCOs might have operational data showing the efficiency of certain processes, but without corresponding financial data, they cannot assess the cost-effectiveness of those operations, thus hampering well-informed decision making.

To achieve oversight and agility, your finance team needs the right tools to aggregate all relevant data sources and provide the comprehensive analysis your leadership craves.

A Single Source of SAP Data Truth

Connected SAP data offers many advantages for your teams, including real-time visibility, improved data accuracy, consistency, efficiency, and cost savings.

Real-time Visibility and Decision-Making:

Timely and accurate data: Connected SAP data allows organizations to access real-time and up-to-date information from various departments and processes. This gives decision-makers access to current data for financial and operational reporting, reducing decision-making based on outdated information.
Faster decision-making: Real-time data enables faster decision-making, allowing organizations to respond quickly to ever-changing market conditions. This agility helps organizations capitalize on favorable circumstances.

Improved Data Accuracy and Consistency:

Data integrity: SAP data integration pushes consistent and accurate data across the organization. This reduces errors and discrepancies in financial and operational reporting.
Single source of truth: Connecting SAP data creates a centralized repository for financial and operational data, ensuring that all departments and stakeholders are working from the same set of data. This promotes data consistency and eliminates the need for manual data reconciliation.

Enhanced Efficiency and Cost Savings:

Automation: Teams can gain refreshable, drillable reports and close the books faster, leading to more time for insights and analysis.
Cost savings: Improved efficiency, reduced errors, and streamlined processes can lead to significant savings. Organizations can allocate resources more effectively and avoid unnecessary expenses associated with manual data handling.

How to Get More Employees to Love SAP

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Generate More Value with Connected SAP Reporting

Angles Enterprise for SAP transforms and enhances critical data from SAP ERP tools, turning it into actionable insights. It puts the power of operational analytics and business intelligence into the hands of the people who need it most – the business users. Angles Enterprise for SAP applies a context-aware, process-rich business data model to SAP’s complex data structure and simplifies it into normal business terms and language users understand, empowering business users to get answers quickly. Angles’ cross-process reporting breaks through the silos and combines data from multiple functions to provide insights across your business.

Connected

Built-in knowledge of SAP enables Angles Enterprise for SAP to automatically extract data from production SAP instances (both ECC or S/4HANA), interpreting your company’s SAP data model, application logic, and customizations and allowing rapid implementation. Angles Enterprise for SAP takes a full or configurable delta extraction from all relevant tables, including material master and vendor master, and automatically interprets the master and transaction data, the SAP data dictionary, and customized settings. It has no impact on performance. Upon receiving the newly extracted data, Angles Enterprise for SAP rebuilds the model. The solution uses configuration files outside the source code to build this model, which allows for rapid addition of Z-tables or Z-fields and makes Angles Enterprise for SAP smart enough to work plug-and-play on any SAP ERP system.

Complete

Loaded with unique, built-in, cross-process intelligence, Angles Enterprise for SAP makes your ERP transactional data easy to understand. It enriches the data with more than 600 calculated fields for analyzing supply chain and financial data. This added intelligence enables business users to analyze their processes horizontally across the entire value chain – from purchasing via production and warehousing and sales to FI/CO.

Intuitive

Angles Enterprise for SAP offers an easy-to-use self-service interface for your business users, who can perform searches using real business language rather than needing to know how to write SQL queries. This allows them to create reports or dashboards either from within Angles or in their BI Tool of choice.

Want to learn more about modernizing your SAP operational reporting? Dive into our white paper to learn more about Angles Enterprise for SAP’s relationships with connected data and see if insightsoftware has the tool your reporting teams need.

Modernizing Operational Reporting & Strategic Analytics in the SAP-Run Enterprise

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You’ve Been Asked to Choose a Financial Reporting Tool: Now What?

insightsoftware — Sun, 22 Oct 2023 04:23:34 +0000

“Information as an asset is still in the ‘early adoption’ phase, which makes it a competitive differentiator for leading organizations as they focus on digital transformation. In turn, data and analytics become strategic priorities.”

That’s a quote from a recent Gartner report underscoring the critical importance of data for today’s companies. Adding further emphasis, the report goes on to predict that by 2022, 90 percent of corporate strategies will classify data as a critical asset and list analytics among the core competencies.

At this point, most companies have read the writing on the wall and concluded they need to upgrade how they leverage data. In many cases, that means selecting an enterprise reporting tool that offers capabilities above and beyond what’s available from the ERP.

If you’ve been tasked with selecting that tool, you have a mission-critical responsibility. Moving forward, your company will depend on its reporting tool to be the portal into data, the gateway through which stakeholders across the enterprise gain access to insights, ideas, and strategic innovations. It’s possible as long as you pick the right tool.

As you have probably discovered, there’s no lack of options on the market, with each promising to deliver cutting-edge features and best-in-class capabilities. But how do you separate the truth from the sales pitch and identify the tool best suited for your specific company’s needs? It’s not easy, but it’s not impossible either. We suggest you look for tools that don’t just make reporting easier, but also turn it into a true asset. Whatever you choose, make sure it has these features and qualities:

In-Depth Reporting Capabilities

Plenty of tools can integrate and analyze information for you, but that’s not really what you’re looking for in a reporting tool. Instead, you need an insight generator: something that can elevate your data to the point where it guides all aspects of decision making and improves outcomes consistently.

Evaluating how extensively a reporting tool can engage with information is hard to do without weeks of use, but tools with a few key features tend to be more reliable sources of insights. Look for drill-down capabilities that allow you to explore the data behind the performance metrics all the way down to the journal level.

Great tools will also update your reports automatically, saving you hours of regular work preparing reports and ensuring decisions are always based on up-to-date information. Realistically, tools that lack these features make data more accessible, but not necessarily more valuable.

Sophisticated Data Visualizations

Reporting tools should elevate data by making them more insightful and more digestible. By digestible, we mean that it’s easy to identify the key takeaways from the report, as well as the more subtle insights contained within.

Presenting decision-makers with a grid of facts and figures and expecting them to pick up on everything isn’t realistic, which is why great reports typically incorporate data visualizations like charts, graphs, and even more sophisticated ways of presenting the information. Tools that make visualizations widely available and customizable produce reports that are more engaging and more instructive too.

Expansive Data Consolidation

Currently, building a report means going into the ERP, extracting information, plugging it into Excel, and meticulously trying to integrate it with data from other sources. It’s an inefficient and error-prone process, and the right reporting tools make it unnecessary.

Choose one that integrates information from multiple sources, ERP and otherwise, rather than one that was built to suit a single information ecosystem like Oracle or SAP. In a perfect world, you would rely on one tool to report on all of your data.

Seamless Scalability

Your company already deals with an ocean of data, and the volume will only grow as you begin collecting more information from more sources. If your reporting tool cannot scale to accommodate these larger volumes, something intended to help you explore data will only hurt your efforts.

Work closely with the software vendor to determine how quickly your reporting capabilities can scale upward, what kinds of performance issues you may encounter, and whether there’s an upper limit. Avoid the disruption of having to switch reporting tools in a couple of years by selecting one that can expand at the same pace as your company.

Minimal IT Requirements

Since you’re searching for a reporting tool, you’re probably looking for something that can replace the input of your IT team. Too often, reporting has so many technical requirements that the IT department must be involved from beginning to end, creating delays and distractions for all involved.

Streamlining reporting means cutting out IT as much as possible, so look for tools with minimal technical requirements and straightforward, user-centric functionality

Self-Service Simplicity

Related to the previous point, the best reporting tools currently on the market put the power in the hand of the end user. That means when someone needs a report, they don’t have to request it from someone else. Instead, they build it themselves from the ground up, choosing the data they need and the format they want.

Self-service reporting is quickly becoming the gold standard because it cuts unnecessary middlemen out of the reporting process. Even more significantly, it makes data so flexible and accessible that there’re no reason (or excuse) not to reference custom reports before making financial decisions. Guesses and assumptions become irrelevant.

Active Vendor Support

Reporting tools are only as good as the vendor that stands behind them. Good vendor partners have an active user base, a long history of customer satisfaction, and a commitment to innovation and improvement. More tangibly, they’re able to get your reporting tool fully implemented and optimized in minimal time while remaining committed to ongoing support and security.

Since you intend to rely on the new tool for years to come, you need a vendor that’s in it for the long haul as well. Spend as much time as you need evaluating whether you can trust a potential vendor.

Before You Make Any Final Decisions

Knowing what to look for is important, but so is knowing how to look. Start by researching reporting tools online. Look for options that meet your needs while exploring any ratings or reviews you can find. Once you have a list of candidates, reach out to the vendors for a consultation. Finally, schedule a demo so that you can try the tool hands-on.

Don’t neglect or skip any of these steps; it could lead you to choose a tool that seems great on the surface but does little to improve the reporting process. Remember, this isn’t just a tool you want. It’s one you need if your company is going to remain competitive, at least according to Gartner.

As you continue your search, consider tools from insightsoftware. Whether for enterprise reporting or financial reporting, each of our products brings data to life, uncovering insights that would have proved elusive otherwise.

We aim to check all the boxes outlined above, and if our user base is an indication, we succeed. Decide for yourself if reporting tools from insightsoftware set your company up for sustained success. Contact us to ask questions, request information, schedule a consultation, or arrange a demonstration.

The post You’ve Been Asked to Choose a Financial Reporting Tool: Now What? appeared first on insightsoftware.

Empower Your Team to Unlock the Data Potential of Dynamics 365

insightsoftware — Thu, 12 Oct 2023 20:35:55 +0000

Successful business management is inextricably linked to robust financial and operational data. Microsoft Dynamics 365 Business Central and Dynamics 365 Finance and Supply Chain Management both deliver a solid platform for companies to organize, analyze, understand, and manage their financial data. However, Dynamics 365 (D365) falls short in some ways when it comes to financial and operational reporting, and planning, budgeting, and forecasting.

insightsoftware solutions fill these gaps by bringing granular, multi-dimensional, real-time, refreshable data to users’ fingertips, driving faster, more accurate business decisions. As an Independent Software Vendor Success Partner in the Microsoft Cloud Partner Program, insightsoftware solutions are designed to enhance the D365 enterprise resource planning (ERP) ecosystem and help Dynamics users speed up processes while increasing their data access, quality, and accuracy.

Identifying Customer Needs and insightsoftware Solutions

insightsoftware’s primary goal is to enhance financial data management and financial reporting. This starts with the finance department but has a cascading positive impact on financial leaders who gain increased access to accurate reporting and insights that enable more informed decision making.

This principle guides insightsoftware in providing software solutions that appeal to finance experts while making up for the flaws in financial reporting present in the Dynamics 365 ERP stack. While D365 excels at data management, its financial reporting capabilities leave much to be desired.

Due to the issues inherent with reporting in the ERP, Microsoft recommends that users employ Power BI or third-party software for reporting and analysis. Power BI can be excellent for creating attractive visualizations for management information, but due to its hierarchical structure, it is not intended to handle financial data. That type of reporting in Power BI requires complex data manipulation and workarounds. This leaves users with no choice but to explore options outside of the Microsoft portfolio of products to create a complete data management solution.

Here are some common reporting roadblocks we hear about from D365 users.

Going Beyond Power BI for Dynamics 365

Access Resource

No Single Source of Truth for Operational Reporting

Effective operational reporting requires going beyond data found in the general ledger. To provide a comprehensive operational report, finance teams often need to combine data from CRMs and other business tools. This requirement to combine data sources is an inherent shortfall of D365 that users are painfully aware of.

Building Financial and Operational Reports Can Be Extremely Time-Consuming

D365 does not offer drill-down capabilities for financial reporting. Nor does it enable merging of data from multiple sources. Finance teams must resort to manual data dumps and copy/pasting data from various sources into static spreadsheets for analysis. This process of manual data manipulation is labor-intensive and time-consuming, with teams devoting up to eight hours each week to reporting tasks.

Increased Risk of Data Inaccuracies

The manual manipulation of data typically results in inaccuracies within those data sets. It is an unavoidable fact. This is especially true when data originating in various sources must be converted to a new format before it can be combined with the data in your spreadsheet. This manual handling of data opens the door to inaccuracy and increases the risk that tainted data will be used to steer business operations.

Over-Reliance on IT Support

Reporting is too dependent on IT, consultants, or other technical experts. When asked about the relationship between IT and Finance, 63% of IT decision makers find that finance is either very or over-reliant on IT. This heavy reliance on IT support leads to delays in accessing data, excess costs, and an inability to support ad hoc requests.

While this is not a comprehensive list of the challenges that customers experience, these are four far reaching areas that impact many finance teams and are areas where, by partnering with insightsoftware, you can add real and immediate value to your business.

Position Your Team for Growth

With products that support Dynamics 365 Finance and Supply Chain Management for enterprises and Dynamics 365 Business Central for SMBs, insightsoftware offers solutions that are scalable and customized to your team’s financial and operational reporting needs. Learn more about our popular reporting and analytics solutions for Microsoft Dynamics that consistently deliver success to our customers:

Jet Reports – Flexible Excel-based financial and business reporting that allows business users to easily create drilldown reports with no exporting, no copying and pasting, and no programming required. Jet Reports allows you to get all the operational data you need, in the format that works for you, no matter where you are.
Jet Analytics – Complete on-prem or cloud-based data preparation, automation, and modeling solution that accelerates Dynamics BI projects and enables faster, easier D365 migrations, all without requiring specialist skills. Jet Analytics draws from all your data sources, including D365, to provide a controlled and consistent data set without you needing to understand underlying data structures. This makes data management easier and speeds up time-to-value.

insightsoftware’s Jet solutions are designed to provide fast, flexible reporting and analytics for any Dynamics data source. Read the brochure to see how Jet Analytics and Jet Reports will empower your finance team to unlock the full capabilities of your Microsoft Dynamics 365 ERP.

Made To Work Together: Jet Reports and Jet Analytics

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Unleashing Decision Intelligence With Logi Symphony

insightsoftware — Wed, 11 Oct 2023 19:02:52 +0000

Embedded analytics is a game-changer for software teams developing web-based applications. It seamlessly integrates data insights into existing workflows, boosting user engagement, and enabling real-time decision-making. With enhanced security, customization, scalability, and user empowerment, embedded analytics is a true path forward for analytics teams seeking to thrive in today’s data-driven business landscape.

Ultimately, today’s applications teams are using embedded business intelligence and analytics (ABI) software to gain a competitive edge by delivering enhanced user experiences and better decision-making. These software teams understand that the usage of ABI ultimately drives better business outcomes.

The Traditional Challenges of Embedding Analytics Into Applications

The traditional process of embedding analytics into existing applications can be a formidable task, highlighted by several intricate challenges. It requires complex integration technology to seamlessly weave analytics components into the fabric of the host application. This often mandates custom development to ensure that analytics functions harmoniously within the existing framework, which can be technically demanding.

Another hurdle is the task of managing diverse data sources, as organizations typically store data in various formats and locations. Ensuring that embedded analytics can access and analyze data from these multiple sources can pose a substantial technical difficulty, requiring powerful data integration capabilities.

For applications teams using embedded analytics in today’s environment, creating a compelling user experience is crucial but can be elusive if these traditional processes are used. Striking the right balance between functionality and a streamlined user interface within the host application is a delicate art. Maintaining robust data governance and security standards within the embedded analytics solution is vital, particularly in organizations with varying data governance policies across varied applications.

Despite these traditional challenges, embedded analytics continues to be a valuable tool for many software teams due to its ability to enhance user experiences, improve decision-making, and streamline data access within existing workflows. The balancing act for these teams is to carefully assess the specific needs and challenges of their organizations and choose an embedded analytics solution that aligns with their goals and resources.

A New Generation of ABI Tool

With all of these challenges in mind, insightsoftware saw a clear need for an embedded business intelligence and analytics software solution that is purpose-built to seamlessly integrate into applications, one that offers pre-built components and APIs tailored to application environments.

Software companies that develop web-based applications need reporting capabilities embedded directly into these applications. Existing applications did not adequately allow organizations to deliver cost-effective, high-quality interactive, white-labeled/branded data visualizations, dashboards, and reports embedded within their applications.

Addressing these challenges necessitated a full-scale effort. We pulled together insightsoftware’s analysts and internal stakeholders, drawing on insights and feedback from both prospects and customers. We found that analytics teams wanted an improved UX/UI experience, as well as streamlined deployment and management. Application teams are also highly interested in functionality that reduces the time and effort it takes their users to access and analyze data.

Results indicated that, by reducing the time and effort required for applications teams to access and analyze data, an effective ABI software tool could substantially boost productivity. Application teams want to focus more on strategic tasks than burning time on routine data extraction and reporting. We also determined that analytics teams need customized insights that cater to end-user needs, enhancing engagement and empowering users to make data-driven decisions efficiently. So, drawing on a wealth of in-house technology, we built our own end-to-end ABI solution.

Introducing Logi Symphony

We have launched our solution to these analytics challenges, Logi Symphony. Logi Symphony is a comprehensive ABI product specifically crafted for embedding purposes. It empowers software teams to seamlessly connect to diverse data sources, transform and organize data, and swiftly create, tailor, and integrate BI/analytics content into other applications.

Specifically, Logi Symphony empowers these software teams with robust embedded business intelligence. It offers a fully API-supported application and framework that supports endless visual customization of data-related deliverables. It allows users to embed analytics and reporting capabilities directly into their applications or workflows while providing robust BI features.

A Quick Overview of Logi Symphony

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Here are the key gains your applications team receives with Logi Symphony:

All Things Data

Improve data quality and collaboration to enable consumers with the tools to readily understand their data. Logi Symphony brings an overall level of mastery to data connectivity that is not typically found in other offerings.

Full coverage with a plethora of out-of-box data connectors.
Data connectors offer a deeper level of integration specific to the target data source, providing security and performance benefits.
Join disparate data sources to clean and apply structure to your data.
Improve performance with ETL and data warehouse capabilities.
Augment data to uncover hidden insights for consumers.
Enhance data with programmatic changes using C#, R, or Python.

Deployment and Integration

Work with an end-to-end ABI platform purpose-built for rapidly embedding dashboards, reporting content, and more into another web-based application for external user consumption.

Deploy anywhere – on-premises for high-security needs or in a self-managed, multi-tenant cloud for public-facing applications.
Rapidly embed content into any web-based application.
White Label embedded content to match the branding of your application.
Manage external authentication using federated security and single sign-on.
Embed advanced functionality like self-service, data discovery, and administration for external use.
Deploy and manage across multiple tenants seamlessly with your content and branding.

Better Dashboards, Reports, and Self-Service Capabilities

Embed a rich and highly customizable BI and analytics experience, giving you the tools you need to create the complex dashboards and reports your users need.

Provide for any user experience, including real-time dashboards, self-service, data discovery, and pixel-perfect reports.
Interact with data using drill down/drill through, revisualization, brushing, and layers.

Tailored Content Experience

Meet Any Demand regardless of the expected user experience that you want to deliver. Logi Symphony is a comprehensive platform and can provide content in several different outputs. Customized insights cater to end-user needs, enhancing engagement and empowering users to make data-driven decisions efficiently.

Embedded Self-Service
- Easy user-curated content creation
- Interactivity, drill down, and filtering
- Focused on ease of use for end users.
User-Driven Data Discovery
- Self-service for data-conscious users
- Full control, formulas, and complexity
Managed Dashboards
- Governed user experience
- Exact layout, controlled user interactivity
Pixel Perfect Reporting
- Long-form, flawless layout
- Multi-page exporting, robust visualizations
Custom BI Application
- Open API and extensibility, allowing for the development of a new custom experience.

Logi Symphony is a state-of-the-art product that empowers Independent Software Vendors (ISVs) and application teams to embed analytical capabilities and data visualizations into their SaaS applications. Visit Logi Symphony on our website to see if it is the right analytics solution for your application.

Logi Symphony from insightsoftware

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The Connect Effect: Transforming Employee Experience

insightsoftware — Tue, 10 Oct 2023 22:04:18 +0000

Learn how the connect effect can help transform employee experience and business outcomes.

Monica Boydston of insightsoftware explains “the connect effect” and its impact on transforming employee experience and driving better business outcomes. Learn how connected data, capabilities, applications, and global teams can lead to success.

The value data can hold has been well understood for years, yet many company leaders still need help to wrangle their data beneficially. This is especially prevalent among finance departments. More specifically, data silos remain one of the biggest barriers to innovation. Hybrid work environments paired with an influx of data and segmented solutions have spread data throughout companies without a common link between them. This makes it almost impossible for companies to improve collaboration and extract valuable insight from the data they already have access to.

Now more than ever, CFOs must focus on improving the agility and resilience of their teams to ensure continued growth. This means understanding how to connect systems and streamline a company’s data for better decision-making, improving business outcomes, processes, and team productivity.

The Cause and Effect of Disjointed Reporting

Recent research found that more than two-thirds of IT and finance professionals waste an entire day each week on operational reporting. This continued ineffective and disjointed reporting results from siloed data that can prevent real-time collaboration and impactful conclusions.

For example, too often, enterprise resource planning (ERP) software is not connected to planning and budgeting applications, causing many employees to need routine help with reporting and analysis. Off-the-shelf reporting in most ERP systems is either difficult to use, limited in functionality, or both. Add to these the ad hoc information systems built around complex spreadsheets that finance teams are also required to use, and we can understand how quickly companies develop a collection of applications and data sources that cannot communicate with each other.

This user experience can also become increasingly frustrating to employees, and reporting can burden finance teams. Further, as the demand for accurate reports and financial predictions increases amid a volatile economy, companies risk employee burnout and turnover. These silos make providing this ongoing analysis vastly more difficult for employees. Among a skills shortage in the finance industry, CFOs are draining resources at a time when they need to do more with less.

Even more complicated for many of today’s companies within a post-pandemic world is the growth in remote work, resulting in employees operating in multiple countries and time zones. While remote hiring may help address the skills shortage, collaboration becomes more difficult if such applications and data remain disconnected.

See More: Data Analytics and Reporting Drive Insightful Decisions

Understanding The Connect Effect

Leaders need to respond to disjointed reporting and its ongoing effects on employees as well as the growth of the company by streamlining applications and adopting automation techniques. Connecting applications to enable employees to solve multiple business problems faster and automate tedious tasks is one solution known as The Connect Effect. This approach unites companywide data to provide a clear view of all business areas, including finance, HR, logistics, IT, product management, and more.

the connect effect is structured around four key concepts:

Connected data: Organizations must become pros at connecting users to their data. By pulling data at a more granular level from more ERP systems, organizations can help CFOs run a world-class operation.
Connected capabilities: Sixty-six percent of finance teams feel too reliant on IT. With such capabilities, employees should no longer need to request a custom design or report modification from the IT department – in fact, one-quarter of finance teams still find manual and time-consuming processes a key challenge, which can be addressed through automation. Utilizing automation to assist with report development gives IT more time to focus on tasks and empowers employees to pull their reports.
Connected applications: Solutions need to be interconnected, and employees should be able to work from the same unified tool set. Productivity is challenged when users switch between multiple applications to find information or complete tasks. When applications are streamlined, everyone works with a common toolset and a single source of truth.
Connected global teams: COVID-19 quickly ushered in a new way of working, and by the end of 2023, Gartner forecasts that 39% of global knowledge workers will operate in a hybrid setting. When organizations can offer connected data, capabilities, and applications, a collaborative work environment can be achieved, improving productivity and communication while ensuring clear accountability no matter where employees decide to work. Organizations that leverage this connected approach will see marked improvements in customer, partner, and employee experiences. You can achieve greatness when you’re well-connected to the right software, technology, and people.

See More: How to Communicate and Collaborate Seamlessly

Benefits of The Connect Effect

Finance teams have already seen improvements when their organizations have implemented connected tools across all corners of financial planning, including tax and transfer, close and consolidation, financial reporting, operational reporting, and more. For example, by connecting real-time ERP software to Microsoft Excel, finance teams can create reports or perform analysis immediately without decreasing productivity. That’s the power of the connect effect.

As mentioned, market uncertainty is increasing the demand for more frequent and accurate forecasts and reporting. Taking a connected approach can allow finance teams to draw on quick insights and collaborate with all stakeholders and areas of the organization to draw accurate conclusions. This means finance teams can achieve maximum efficiency by utilizing available resources instead of relying on tools from separate sources that create more disconnect and, ultimately, offer outdated data.

The connect effect can also assist in minimizing skills gaps within the finance industry. Because financial technology is continuously changing and improving, finance professionals require strong technical abilities to keep up with the most recent innovations. Automated processes allow more time for learning and development of new skills and, therefore, decrease employee burnout from tedious tasks.

Organizations can no longer afford to keep tools and employees divided and, instead, need to look to integrate technology that will allow for better outcomes while minimizing team disruption and bandwidth. Doing more with less is key to scaling effectively, and the connect effect is an ideal strategy to guide companies in the right direction. Connected reporting is more than just connected data; it connects employees to allow for continued organizational growth.

Have you considered improving collaboration, automating processes, and achieving organizational growth through the connect effect? Let us know on Facebook, X, and LinkedIn. We’d love to hear from you!

The post The Connect Effect: Transforming Employee Experience appeared first on insightsoftware.

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