Many small and medium sized companies use the Tally Solution to manage accounting and financial information and decisions. But, as the small to medium (SME) sized organization grows, it must consider its growth plan and take careful steps to grow at the right pace, and make the right financial and product decisions. The information and data contained in the Tally system is a good start, but if you want your organization to grow and thrive, you must establish a performance-driven culture and leverage the information contained in all enterprise systems to make objective decisions about products, services, competition and customers.
Making an objective decision means deciding on a direction or an initiative based on historical performance and on forecasts and predictions for future performance, pricing strategies, investments, etc. Decisions made by fiat or by opinion will not get you the results you want. Every business person has seen or heard horror stories about decisions that were based on someone's 'gut feeling' or absurd certainly and resulted in a negative outcome and damage to the reputation or bottom line of a business.
So, how does a growing business avoid that kind of disaster - especially when it is growing quickly and must coordinate and collaborate among locations, teams, managers and employees in order to make a cogent, effective decision? Information alone is not the answer. But, if an organization can take the valuable data contained in the Tally Solution and merge it with other enterprise system data, it can achieve an integrated view that will help to sort, filter and analyze and make objective decisions using established Key Performance Indicators (KPIs)
Within the past several decades, the concept of metrics and measurements has infiltrated every organization. No matter how large or small, no matter the industry, every enterprise and every business manager understands the importance of metrics in today’s global business environment. When an organization establishes Key Performance Indicators (KPIs) to define the boundaries and results that determine success it can objectively manage results and determine what strategies, processes and tasks are helping the company to achieve its goals and which activities and tasks must be adjusted to correct declining results.
When a business combines Tally with business intelligence, it can establish and monitor key performance indicators at the individual, team, department, division and company level. The enterprise does not have to guess at results or manually compile results and numbers to determine whether goals and targets are met. Instead, the enterprise can drive results using objective metrics with a complete picture of plan vs. actual results for every perspective within the company. Users can establish Key Performance Indicators to track results by month, by quarter or other time series. Because everyone can share in cascaded strategies, goals and objectives, the KPI metrics can be established with meaningful measurements for every role and function.
Small businesses and managers, executives and business users can meet the needs of the organization, and use simple, intuitive KPI Dashboards to establish and monitor results and make confident business decisions to adjust tactical, strategic and operational goals and processes and ensure business success. These simple, practical, easy-to-implement and affordable tools include KPI Dashboards that provide personalized views in a browser-based environment, and are easy to use, requiring minimal user training.
BI allows the organization to manage, organize, filter and analyze information from multiple data sources, and transactional applications like Tally Solutions, or any other legacy database system. The enterprise can use this information to create key performance indicators that offer accurate data and insight and enable detailed measurement of processes and results, so there is never any guess work involved in enterprise direction or market or sales strategy.
If you want to protect your investment in Tally Solutions as your enterprise grows, and harness the value of this system, as well as the multitude of other enterprise systems your organization uses, it is wise to acquire a simple, practical, mobile BI solution. You don't have to write-off your previous investments, migrate to another system or disappoint your users by taking away tools and software that they love and use daily! With an integrated view of data and the sophisticated analytical capability of a business intelligence solution, you can keep Tally and your other favored solutions and grow your business through performance-based analysis and objective decision-making. At the same time, your organization can avoid expensive ERP solution purchases and long, costly implementation and training schedules.
In summary, small to medium sized businesses, currently using Tally Solutions to manage accounting and financial information can leverage their investment by adding business intelligence to the mix, thereby improving the quality and pace of business decisions, using key performance indicators (KPIs) and a user-friendly, mobile, personalized BI tool. Grow wisely, and thrive!
Arbuda Dave: I am working as BI consultant and aim to provide best BI Solutions to my clients. Apart from this I like traveling, participating in Business Intelligence forums, reading and social networking.