Imagine being given a set budget every year and having to allocate it across large scale projects as well as operational activities. Keep in mind that the latter occurs no matter what as they’re vital to the business’ and employees’ ongoing activities.
This requires setting aside enough of your budget for the operational side, so the business can continue to perform without interruption. But you’ll also have to account for what is needed for any special projects scheduled for that year. How can you obtain all of the data and information in one place, so it can be analyzed and managed for more proactive use?
In addition to managing financial data within NetSuite, a top business intelligence tool checks all the boxes for financial reporting. You’re probably wondering how this would help an IT team optimize their activities for efficiency.
Each year, as budgets are determined and allocated by the organization’s leadership, IT continues to vie for enough to cover their growing activities. By having the previous year’s financial numbers from various data sources, it can be analyzed, making a case for the integral part IT plays in the business’ activities.