Some businesses integrate ERP systems and some have efficient BI. But the truth is, in today’s competitive world, you need both to add resilience to your business. BI or business intelligence helps management teams take better decisions with regards to the business. And ERP or enterprise resource planning is a suite of applications that lets teams efficiently capture and process data.
As you can see, together they can be quite resourceful for businesses. ERP solutions like SAP Business One bring business intelligence applications in them. If you plan to work with a SAP Business One consultant, make sure that you talk about your businesses’ BI needs so that you can look for ways to merge both and make both these work in a streamlined approach.
Why BI And ERP Are Better Together?
Here are some reasons why businesses benefit from incorporating both BI and ERP or BI functionalities in their ERP solution.
Obtain Actionable Inputs For Your Organization
With traditional ERP systems you can effectively capture a lot of data. Accessing the captured data is also easy. But only if there is a business intelligence functionality built into the system the data can be processed so as to obtain actionable insights that can help businesses make informed decisions.
Business Intelligence Applications Are Nothing Without ERP
Unless your data silos are effectively maintained, the analytics and reporting functions of the BI solution might not be that efficient after all. You need strong data to obtain accurate reports. If you have worked with BI tools you probably know that they provide detailed data visualization and other features. Data visualization will be pointless if you do not have a strong data management system. And for this an ERP will be the best choice.
Overall Efficiency Improves By Combining Them
When you manage to bring both BI and ERP to one place like the functional modules of SAP Business One that bring comprehensive BI features, you end up saving a lot of time and money. Since you have all your data and business intelligence features in the same place, you do not have to worry about continuity issues. You can go beyond generating reports. Your business might also be able to benefit from prediction based decision making as your business intelligence module helps in thoroughly studying all historic data and real time inputs to project a path. With this you can make confident real-time decisions for your organization. And this offers a competitive edge even in a rapidly growing industry. That gives you one more reason to talk to your SAP Business One consultant about the BI functions in B1.
BI works in different stages right from the gathering of data to generation of reports. Know your business’s specific needs and the level of automation you need in this area. With this you will be able to better understand whether you need a separate BI solution for your firm or whether the modules in Business One will be enough to meet your requirements. A reliable SAP Business One consultant will make it easier for you to make this decision. And thus help you in taking a cost-effective step for your organization.