Business analytics software has become an indispensable part of businesses today to ensure smart and informed workflow. Although there are multiple BI tools available in the market with their proven proficiency and intelligence to act on complex situations, still not all departments could leverage the benefits of BI tools. BI tools, as their name suggests, are intelligent in interpreting complex data into the simplified format, yet not all BI tools are capable of simplifying complex financial reports. Financial reports contain highly sensitive data and failing to understand the accounting situation may lead to pitfalls in the overall financial structure of the business.

Normally, Business Analytics tools represent the data related to inventory, sales, purchase, and overall profit and loss situations in well-illustrated formats. But, when it comes to analyzing the transactions on discounted products or the big sale that your organization conducted in the recent past, or the unbilled transactions that are still pending – the finance department finds itself entangled in the data.

The finance department is then left with no other option but, entering and analyze the data manually through spreadsheets. That is, even though you invested in the best possible business analytics software with proven qualities, yet the objective is not fulfilled. You find yourself back to square one. Manual entry leads to more errors and ultimately, errors in reports and final profit/loss analysis.

Now what? What could be done to resolve the same?

You need to understand first that business intelligence is different from finance intelligence. BI tools need something extra apart from regular features that you see in a nutshell in business analytics software. And that needs strong IT support. IT support helps in extracting the information from existing software so that you can work on financial status. Sounds like a plan? Not yet! And that’s because, you are still missing out on the essence of having an intelligent platform at the place, that is – the real-time data.

Fetching data from one department and then transferring it to another manually will give you time constraint information and not the updated information. Things will become even complex like this. There’ll be no intelligence at all at your organization but the confusion. There’ll be more and more dependency on IT leading to delayed project planning and decision making.

So, what’s the solution? How can you combat this hassle without disturbing your regular business processes and completely eliminate the dependency on other departments and the manual errors leading to misinterpreted data?

What should go-to Business Analytics Software be like?

Your ideal business analytics software should be capable of simplifying and organizing not just the standard data but the finance data too. This is possible only if your BI tool is integrated across the entire business. Then, there’ll be no dependency on IT or other departments.

An integrated BI tool can render real-time information to the finance department to better analyze the profit and loss situation and act accordingly. Also, interactive dashboards of smart BI software can empower you with the intelligence to make smarter decisions.

If you have been searching for all these qualities in the BI tool, we recommend intelligent Business analytics tool – Tableau. Trusted across the nation, Tableau is the most trusted tool for the entire business functions.