There are two ways to think about the digital data pouring into today’s organizations.
First, as an opportunity. The quantity and quality of data now available, along with powerful analytics capabilities, allows us to answer questions that have always been a mystery and forecast the future with remarkable accuracy. With data, organizations can know and do things that seemed utterly impossible just a few decades ago.
Second, as an obligation. As more and more organizations start using data to their advantage, the ones that don’t will become less competitive as a result. They will miss out on opportunities to grow more productive, efficient, innovative, and effective overall, which will make it harder and eventually impossible to remain relevant, even in industries not typically associated with “tech.”
Both these ways of thinking about data make one thing clear: priority number one for all organizations needs to be turning the information they have into the informed decisions they need. The burning question is how?
Say Goodbye to Spreadsheets for Housing Data
The core concept of spreadsheets (a grid of information) is centuries old, and the digital equivalent (Excel or otherwise) has been around for over 50 years. Spreadsheets have been one of the most important business tools of all time, and they remain as ubiquitous as ever…for now.
The era of spreadsheets is coming to a close as companies develop new expectations for data. Why? Because working with spreadsheets requires copious amounts of manual data entry. In most cases, numbers must be entered, organized, and analyzed all by hand. Various spreadsheet tools can automate parts of these processes, but not everything, and not at high speed or large scale. Consequently, people have to spend hours or days working inside of spreadsheets just to turn modest amounts of data into limited insights. And if the data is wrong due to typos or the sheets break as they grow larger, the insights may not be trustworthy or even accessible.
In that way, spreadsheets are an obstacle to data-driven decision making. Instead of relying on the wrong tool any longer, organizations need to switch to something better. The future depends on it.
Sage Intacct – More than Just Accounting Software
Sage Intacct is a comprehensive financial management platform with many powerful and industry-specific features. More than just an accounting tool, however, it’s the engine of organizations that run on data.
Across the platform, Sage Intacct uses automation to collect, store, organize, analyze, and distribute data to stakeholders inside and outside the accounting department. The weaknesses of spreadsheets are the strengths of Sage Intacct. So not only can decision makers find the insights they need faster, more reliably, and with less input; they can also probe deeper into information to know the unknowable.
If priority number one is turning data into informed decisions, the first step is to take a closer look at Sage Intacct. Contact Dean Dorton about a demonstration or consultation.
Philip Massey,
Software Services Director
pmassey@ddaftech.com • 919.796.5408