Free ERP Data with Business Intelligence
Enterprise Resource Planning (ERP) systems evolved in the nineties as a practical solution to a serious problem. Due to the rapid progress of the IT era, organizations were generating huge amounts of data and that data needed to be stored somewhere. This was the main purpose of ERP: to capture and store data and no one can argue that ERP systems don’t do this well. This is what they are designed to do and this is what they do.
However, as IT continues to evolve and organisations continue to demand more from the information stored in their data warehouses, ERP is falling way short of data analysis and report expectations.
Some of the limitations of ERP are as follows:
- The operational system is designed to capture and store data but not report
- The ERP data architecture is complex with thousands of columns and rows with cryptic names whose relationship are difficult to decipher
- The modular design of ERP systems means that data can only be accessed in components
- Although all data may be stored in the ERP system, it is locked
- ERP systems are not set up to easily integrated with other applications or external sources
In today’s competitive marketplace the information gap that organisations suffer due to a reliance on out-dated ERP solutions translates to a huge shortfall in competitive advantage. The only way to overcome this shortfall is to move towards an integrated business intelligence solution. In selecting a business intelligence solution, an organisation gains the ability to capture, store, analyse and report on data. Selecting the right business intelligence tool will be determined by the business requirements and existing IT infrastructure.
In short, moving forward, the only way to unlock the data in organisations dependent on ERP systems is to upgrade to business intelligence solutions. If you would like more information about business intelligence software, contact MXI today.
Since it is Quarter End!
Another quarter-end... masses of data to analyze, complex reports to generate, and a critical deadline to get it all done!
Too often, finance departments face the same challenges at the end of every reporting period-whether it's quarter-end, or year-end.
During these periods, there are financial reports and statements such as balance sheets, cash flow statements, income statements, management reports, and even information about key performance indicators that need to be prepared during a short period of time. The more information required, the longer these tasks become!
In our latest free white paper, you will find tips and tricks to help you breeze through your reporting and financial analysis, and accurately adjust your forecasts.
Download our free whitepaper on how to Improve Your Quarter-End Analysis & Reporting