Accounting Blog for Business

This blog was written by Jose Calsas, Jr. and Fatima Ildefonso from D&V's Team of Xero Certified Advisors.

Why Now is the Future

The world has turned a sharp curve in the last decade as we bid goodbye to old tech and welcome a new era of innovation.

Pop quiz. Imagine you’re the Chief Financial Officer of your company. You have two immediate advisors and assistants - your company’s treasurer and your finance controller. Suddenly, a crisis. Out of time and options, you turn to your two trusted advisors. We’ve already clarified the differences between a treasurer and a controller in an earlier blog post, and now it’s time to put their merits to the test.

Business intelligence has become a phenomenon in the modern business landscape. With newer and more efficient BI models on the rise, it’s no surprise that an increasing number of business owners and managers alike are riding the bandwagon. But will the convenience and efficiency of BI tools suffice in urging technologically-averse entrepreneurs to push their business forward through business intelligence?

Customer and business analytics help drive businesses to achieve the best outcomes in achieving their customer service goals, as well as their organizational objectives. However, analytics alone cannot do the job effectively; business intelligence tools prove to be of great help in providing quick, organized, and fact-based answers.

Business intelligence (BI) solutions have been around for several decades now, and large companies and brands are finding them very useful when it comes to handling huge volumes of data. As an owner of a small business though, you may be among those who believe that small and medium-sized enterprises (SMEs) won’t really benefit that much from BI solutions, since the volume of data that you are handling is significantly smaller than those of large companies.

“Clarity and transparency matter. More than two out of three investors said they would apply a bigger discount to a company if its corporate reporting lacked clarity. Good reporting can also help to strengthen financial markets and ensure that capital flows to where it can be most usefully invested.”—ACCA (the Association of Chartered Certified Accountants) Global Research, Understanding Investors: Directions for Corporate Reporting