One of the cool things about a modern ERP system is Real-Time Reporting. This essentially means you can get information out of your ERP system anytime, anywhere, and on any device.
The key here is information, not just data. Data is just cold hard numbers. For instance, data is “we’ve collected $30,000 in payments this week.” Information is data that’s been extrapolated into meaning. Information is better: “our net profit is up 15% this quarter.” Information often compares or contrasts numbers, especially over time, to spot trends or evaluate goals. What’s great about information is that it leads to actions or decisions: “with our net profit increase, I can now afford that vacation to the Bahamas.”
The goal of information is its root word, inform, which helps you as a business owner make decisions on what to do next. Watching trends in your business is useful, and a lot of times you just want to make sure everything is running OK. Revenue this month on target? Great, no tough decisions to be made. But if it goes up or down dramatically, it’s time to make other decisions. But you can’t see that information if you don’t have visibility to it.
Which is what makes modern ERP systems like Acumatica so great. Because you can create dashboards, which are visual summaries of information about the data in your system. You define the charts and graphs that you want to see, and Acumatica calculates the data behind them on-the-fly so they’re always up-to-date. And the cool part is Acumatica is an anytime-anywhere-any-device kind of system, you can see that stuff on the go even from your tablet or smartphone.
As a business owner, I’ve defined key metrics to watch as trends in my business. I’ve created six charts with numbers I want to see, and I view them daily, sometimes several times a day. And because they’re available on my go-with-me smartphone, I can see this information anytime I want, and it’s always up to date. So, while I’m on that Bahaman vacation, I can still make informed decisions while lying on the beach sipping a pina colada.
Before jumping in, Rockton Connect is here to help understand your business strategy and cloud strategy. Working with growing businesses for more than 20 years has taught us a thing or two about what companies want from an ERP solution. We are helping businesses thrive by connecting people, processes, and priorities.
By: Rockton Connect, www.rocktonconnect.com, Colorado and North Dakota based Acumatica Partner.