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Common features of business intelligence software

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Common Features Of Business Intelligence Software

BI software can be divided into three broad application categories: data management tools, data discovery applications and reporting tools (including interactive dashboards and data visualization software). In the next section, we’ll explain how these analytics platforms can help your organization’s decision-making process become more data-driven. The BI tool you’ll need depends on how your data is currently managed and how you would like to analyze it. For example, if it is currently scattered across disparate transactional databases, you might need to build a data warehouse to centralize it and invest in data management tools that offer Extract, Transform and Load (ETL) functionality to move and re-structure it. Once data is given a common structure and format, you can invest in data discovery solutions such as Online

Analytical Processing (OLAP), data mining and semantic or text mining applications, with the capability to create custom, ad hoc reports. And because information is stored within the warehouse, users can quickly pull reports without impacting the performance of the organization’s software applications, such as CRM, ERP and supply chain We’ve illustrated this concept in the image below: But this isn’t the only way to implement business intelligence software within your organization. If you’re only analyzing data from a single source, ETL and data warehouses are unnecessary. Alternatively, you might require multiple warehouses, and thus, require different tools to connect data between both these servers and other analytics tools that need access to this data. Regardless of your unique business needs, any BI tool you buy

should have some * Data quality management * Extract, transform and load (ETL) * Semantic and text analytics * Data visualizations * Interactive dashboards * Report writers * Scorecarding * Ad hoc reporting

Vendors offer a variety of functional breadth and depth in their small business invoicing software. We’ve listed some of the common capabilities Invoice creation Customize and create invoices that include the company logo, client details and all the terms of payment. Invoice sending Set up one-time or recurring invoices to be sent to clients. Some systems also send alerts when an invoice has been viewed by the recipient. Generate various financial statements such as a profit and loss statement, expense report and payments collected statement. Accept online payments through automatic bank transfer, credit card

or payment gateways such as PayPal. Add late fees for overdue invoices and send payment Assign fees or rates based on project, employee, flat-fee or per hour billing. Users can track billable time and import this data into the invoices. Integrate the invoicing software with other systems such as a CRM application or project management tool. Before you start evaluating small business invoicing software, you should understand what buyer category you fall into to better gauge your needs. You’ll also know which specific features other small businesses like yours consider to be most

important. We believe almost all buyers can be categorized as one of the below types: Small businesses that invoice based on project/unit. These buyers (e.g., small consulting or manufacturing firms) focus more on their specific invoicing needs than any other business process. They require a stand-alone invoicing system that offers a high level of customization and flexibility to suit their Buyers looking for a complete software package. These buyers generally need an invoicing module that’s part of a complete software suite. In other words, they’re looking for an integrated software and prefer a

holistic software experience. This type of buyers usually value a specific invoicing functionality in a system rather than integrating with other systems. For example, an auto shop repair software offers invoicing along with various other modules such as work order management and customer relationship Industry-specific, unique buyers. These buyers (e.g., small utility companies or legal consultants) have such unique invoicing processes that they need systems designed exclusively for their industry. For that reason, they either purchase an industry-specific solution, or build their own system, or outsource the software development process to a third-party


common features of business plan software. This information will help you shortlist systems based on your business needs. Business plan templates: Use pre-designed, customizable, industry-specific templates to ideate and create business plans that reflect your business Business plan templates in Upmetrics Financial forecasts: View financial (sales, profit, revenue, etc.) forecasts along with different financial ratios to analyze and optimize business Revenue and financial projections in iPlanner.NET Visual layout: Incorporate different visuals, charts, and themes within your business plan documents/presentations to make them appealing to the audience. Different PDF themes in LivePlan Back to business plan software directory *Note: The applications selected in this article are examples to show a feature in context, and are not intended as endorsements or recommendations. They’re obtained from sources believed to be reliable at the time of publication. The Best Business Plan Software


Common Features Of Small Business Accounting Software

as financial projections. Some may include compliance-related functionality for government or industry audits (e.g., in banking and financial services). | Any small business with seasonal or otherwise dynamic cash flow that needs to be tracked closely. Also, businesses that need to provide financial reports to stakeholders or to regulatory institutions for compliance. Budgeting & forecasting | Budgeting applications allow small businesses to model potential financial outcomes and to compare actual profit and loss to planned budgets, which helps with decision-making about workforce, spending and growth. Some systems have dashboards that display information visually. | Small businesses that are currently growing or considering expanding. Fixed asset accounting | Fixed asset applications focus on tracking assets that aren’t easily converted to cash: For a small business, assets will typically be “tangible,” such as land, buildings or equipment. These applications calculate

the value of such assets over time, allowing for depreciation due to wear and tear. | Small businesses with substantial tangible assets, or any business that, for tax purposes, may benefit from reporting depreciations to assets.

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