Posted on 3rd Oct 2022
How will Data Visualization boost your business growth?
In modern business, we cannot deny that data is becoming an essential part of every company. Businesses gather data for multiple reasons, but the one that applies to every company is simple: data is critical to insight into our decision-making processes.
The mind is generally much more effective at processing charts and graphs than lists of numbers. When we visualize the selected information, it helps us understand why things happen. We can compare patterns and trends and make informed predictions about future outcomes.
Additionally, it is crucial to have an implementation solution such as Financial ERP to be data-driven with proper processes and structures to support analytical decision-making.
How it benefits your business?
This article will show you the actual usage of various ERP software for data visualization. We will also focus on how data visualization benefits and help empower business growth.
- Make data visualization to see trends and gain real business insights.
Financial ERP software is a helpful tool for your company. It’s a rapid, efficient, and highly accessible method of finding critical consumer information, providing immediate insight without laborious analysis.
Unlike recent years, modern accounting provides company-wide integration essential to strategic decision-making. It allows you to centrally track financial accounting data within a single framework of multi-company, multi-entity. It also allows you to gather financial data and generate reports such as ledgers, profit and loss statements, overall balance sheets, and quarterly financial statements. For example, you can convert your profit and loss ledger into display tables, charts, and eye-catching data with a few clicks.
- Establish your objectives and success metrics.
Everyone who owns a business continually defines success measures to boost client retention, expand market share, enter a new market sector, or engage in research and development. They set up and measure teams to make business and product decisions faster by interpreting extensive data relatively quickly—without ever having to speak to customers face-to-face or one-on-one.
They accomplish that by making it simpler to observe how your daily actions affect your overall company performance, allowing you to determine which operational adjustment(s) caused the change in business performance. For example, you may forecast indicators such as monthly sales or KPIs by visualizing data and comparing current and prior versions.
- Use your information
Data visualization may assist in unifying your organization under a single goal. When a company connects its ERP, CRM, and other data management systems, it eliminates data silos. It implies that information in your organization is now accessible, shared, and significantly more helpful.
A unified view of all customer and corporate data allows you to monitor how back-office processes such as manufacturing, shipping, finance, and human resources affect sales, marketing, customer support, and other business performance-related functions.
Boost employee metrics
People tend to miss out on progression when they don’t keep track of their progress and goals. Your employee must understand where your firm has been and where it wants to go.
Giving employees a method to view the pipeline and assess and monitor performance may empower them and encourage development. For example, according to a recent RTS Labs research, visualizing data and developing dashboards increased sales by 24% and reduced sales representative turnover by 90%.
Finally, a great combination of analytics and data visualization in ERP software makes the most sense for your operations. Using the appropriate software may significantly influence expenditure management to operational efficiency, so pick your ERP and visualize data wisely.
If you’re looking for a robust and comprehensive ERP solution, Globe3 is the perfect choice for your business. Our state-of-the-art system is designed to streamline your operations, increase productivity and drive growth. With its user-friendly interface, advanced features and unparalleled support, Globe3 is the ideal ERP solution for ALL SMEs in Singapore. So why wait? Get started with Globe3 today and experience the difference a world-class ERP system can make.