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This article will focus on the demand for convergence of Business Intelligence and Corporate Performance Management tools and why this benefits mid-market companies.

Image taken from Gartner.

The latest release of the Gartner Magic Quadrant for Business Intelligence strengthened my conviction that the market will see consolidation between the Business Intelligence/Visualization (BI) and Corporate Performance Management (CPM) vendors. Gartner classifies them in separate quadrants because the respective tools are evaluated differently during the sales process. Furthermore, BI tools usually sell into marketing and sales teams while CPM targets finance and accounting professionals. Consequently, there has been limited Mergers and Acquisitions (M&A) in the space. Note that this article assumes readers are familiar with the basic definitions to focus on a narrative explaining the demand for their convergence.
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This article will focus on the Top Cloud-based Financial Planning &Analysis (FP&A) Budget Tools for Banks.

Image taken from Shutterstock.

Image taken from Shutterstock.

The way things used to be – When I first got into building a budget for a bank, we were using Lotus 1-2-3 spreadsheets that were stored on 5¼ inch floppy disks.  The spreadsheet was basically a 24-month trial balance for each branch or department.  The first eighteen months contained historical balances.  The remaining eighteen months were the forecast for the rest of the current year and budget for next year.
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Visualization has some beneficial side effects. Visualization improves your performance; helps reach your potential, increases focus, boosts confidence, and so much more.

Think about professional athletes. For instance, everyone from tennis player Serena Williams to Arnold Schwarzenegger, who was a world champion bodybuilder before he became an actor, have practiced visualization techniques.

It makes sense to apply visuals to your financial reports and presentations. Think about receiving a stack of spreadsheets full of data. Is this how you extract your financial analysis? This is where a dashboard comes into play. The amount of data being created every year continues to grow tremendously. If your organization wants to make informed decisions, your company leaders need to be able to access and interpret data in real-time.

The ability to act quickly on the data has become a competitive differentiator. A dashboard presents key data on a single page and uses visuals to summarize a large amount of data. In this article, we will discuss how dashboards will help real estate companies that are using Dynamics GP.

What are Dashboards for Real Estate?

Dashboards are defined as charts, graphs, and scorecards that convey data trends, successes, and problem areas with key performance indicators (KPIs), whether you are looking at a product, location, a corporate department in particular, or the entire company. Real estate companies can benefit tremendously. For instance, there are dashboards that allow agents and brokers to have complete control over how their listings are performing and dashboards that show an overview of the real estate projects that contribute the most to the organization’s revenues.

Dashboards can integrate your organizational data from multiple sources so that you’re able to see what the big picture will look like without having to access your library of applications and systems. If you’re looking for simple, but real-time analytics for your data, you can rely on the built-in dashboard functionality within your Dynamics GP system. Dashboards exist to make sense of your data in one snapshot in a customized format that enables the end-user to view any metric he/she wants.

Benefits of Real Estate Dashboards

With a dashboard solution, real estate companies can see their information organized into one location using visuals that improve operational efficiency by making more informed business decisions in a short amount of time.

Historical data can be produced to identify successes and challenges from the past. Also, real-time data can be used to forecast the power of current business decisions based on future organizational goals. Since company information is reported in real-time, any potential challenges can be identified and corrected to resolve problem issues quickly.

Additionally, it is common to have multiple, easy-to-read dashboards, as opposed to having one dashboard and packing information and visuals into it. This will allow your end-users to know exactly the information they find on each dashboard. For instance, a real estate benchmarking dashboard shows how you can compare the sales performance of your own company against the industry and a competitor, and a chief operating officer (COO) dashboard gives COOs access to a single view about the revenue-generating units (RGUs).

The right dashboard will transform the success in running a real estate company by identifying relevant information from your sources, predicting results early on, eliminating any inaccurate data, and enhancing decision-making for your company. Your company can track information over specific periods of time, monitor current company performance, and summarize important company data by using aesthetically-pleasing visuals such as graphs, charts, and other features. More companies are investing in commercial dashboard tools, but they are facing problems like information overload. If there is too much information or if there are too many visuals, your dashboard will not be easily readable.

How to Choose the Right Technology Platform for Your Real Estate Dashboard

There are several technology platforms to consider when looking to invest in a dashboard. Software that have Excel add-ins may be the easiest choice to implement due to how familiar the spreadsheet program and its functionalities and features are for people who already are familiar with Excel. Dashboards can be produced in the Excel spreadsheet, but interactive visuals are important to executives. An increasing number of real estate companies are looking for web-based tools, including browser-based dashboard solutions, both on-premises and/or in the cloud. Web-based solutions provide access from anywhere you have internet access. There are also mobile dashboard applications for real estate agents who are usually on-the-go and moving from space to space. There are a few independent software vendors (ISVs) creating mobile dashboards, with screen size limited to one KPI or visual each time. There are some dashboard software offerings that join Excel, mobile, and web types of data access.

If you’re on the management team for a real estate company, you will be able to monitor the top 10 projects based on sales, the budget, and the actual sales trend for each project, numbers of units added to inventory, number of available properties per month for a specific project, and many more. Dashboards enable your company to be aware and stay competitive with accessible and business user-friendly analytics. It will be important to come up with specific BI goals and compare with modern dashboard solutions, so you can invest in the best tool for your team. Modern dashboard tools offer powerful and easy-to-use features and functionalities to access, interpret, and understand company data for better decision-making.

Choose Solver for Easy to Use Dashboards

At Solver, we would be happy to answer questions and generally review our Solver Suite’s Excel, web and/or mobile-based, easy-to-use dashboards module (stand-alone and component) in the comprehensive suite of BI modules for collaborative, streamlined decision-making capabilities for real estate organizations using Microsoft Dynamics GP.

Solver enables world-class decisions with BI360, a leading web-based CPM suite made up of budgeting, reporting, dashboards, and data warehousing, delivered through a web portal. Solver is reinventing CPM with its next-generation solution. BI360 empowers business users with modern features including innovative use of Excel in the model design process. If you’re interested in learning more, our team is excited to hear about your organizational needs and goals.

The information you are reading is more than 2 years old and may be outdated. Read new blogs.

This article will focus on Cloud Reporting for Banks.

Image taken from Shutterstock.

Image taken from Shutterstock.


Just what is Cloud Reporting?TechTarget defines Cloud Analytics as a service model in which the reporting and analysis process are provided through a public or private cloud.  These solutions are typically offered under a subscription-based pricing model called Software as a Service (SaaS). Gartner defines the six key elements of analytics as data sources, data models, processing applications, computing power, analytic models and sharing or storage of results. In its view, any analytics initiative “in which one or more of these elements is implemented in the cloud” qualifies as cloud analytics. Read more

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This article will focus on Web-based Reporting for Banks.
CFO DashboardWho cares about web-based reporting for banks? When we think about reporting for banks, we often think about accountants, controllers, and CFO’s.  According to The Wharton School, accounting is considered the language of business.  The story of any company, no matter the size, the industry, or the country of origin, is told through its financial records and reports. Read more

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TargetTech defines BI as a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions. Gartner says that BI is an umbrella term that includes the applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and […]

The information you are reading is more than 2 years old and may be outdated. Read new blogs.
The information you are reading is more than 2 years old and may be outdated. Read new blogs.
The information you are reading is more than 2 years old and may be outdated. Read new blogs.