When starting your own business, the first steps may be to make decisions based on intuition and guesswork. Managers are often responsible for building a solid foundation, but as a company grows, its needs and challenges increase. What could be the next step for a manager who sees that relying on intuition alone is no longer enough? Technology and innovation development have raised a number of surprises, but also questions. During this period, the optimization of the company's business processes becomes a task for every director of the company. Effective analysis of company data volumes requires both expertise and time. Business analytics is a tool that can analyze the company's performance in various ways. Business analytics - a tool that can analyze large company performance indicators in various sections.
Why RoboLabs analytic module is so special? This tool most widely used between companies, which are working in groups with different projects and they want to count specific group profitability. Business Intelligence are not mandatory, but more and more companies managers understand benefits of this tool.
“We have been using analytic since 2017. We started to work with hours management projects, which helped us to monitor how many hours we spend to different projects. After that we decided to sort our income and expenses. Previously all the data had to be analyzed manually, so RoboLabs analytic module speed up the process and reduced workload. The main reason why we are working with RoboLabs is analytic and other collected data, which helps us to check all the data and analyze old projects to make important non emotional decisions” -saying Do Architects manager Sabina Daugėlienė.
One of the main Business Intelligence benefits – analytical accounts management and budgeting. Analytic accounts submit detailed data by subordinate objects, etc. sources of acquisition, type of income and expenses, projects and groups. Only team members assigned by company manager cam view analytical accounts income and expenses in RoboLabs system.It’s important that each team can manage they own budget without seeing the other’s team data.
The system can also assign revenue and expenditure budgets to each analytical account for a specified period and monitor their execution, so that project profitability and budget utilization can be tracked in real time.
It‘s possible to create analytical rules using an analytical module, using this rules the documents processed are automatically assigned to certain analytical accounts. For example, if you want to assign all invoices issued by a certain partner to a specified analytical account during a certain period, you can create such a rule and the system will automatically assign the analyst. This reduces the waste of time in managing repetitive processes. As well, you will be able to constantly change the analytical rules as the company's needs change.
You can use filters and assign periods to cut and analyze analytical account data. With the help of the grouping tool, you can easily group data by analytical codes, dates, financial accounts, partners or products. And by saving time, you can save the most commonly used filters and groupings. If you have many different projects in your business or work in teams and want to track your company's revenue and expenses by type, our advice is to apply a RoboLabs analytics module to your business that you don't want to refuse.