Five Tips to Boost Your Company's Financial Health 2: Put Your Data to Work
This is the second post in our five-part series “Five Tips to Boost Your Company’s Financial Health,” which is focused on the importance of utilizing a proven financial management system to run a better business. In part one we discussed how the right tools and the right information improves everyone’s performance. Today, we’ll look at how you can make data work to make the most of your money.
Put Your Data to Work.
Everyone is making a big deal of Big Data. But what does all the hype really mean for those that manage the finances of small and mid-size businesses? The volume of information every business generates is growing at an immeasurable pace. And it’s too easy to let the volume of data bog you down instead of using it to manage your business and your money more effectively. The good news? Sensible ways to put your data to work are well within reach.
A business solution from Microsoft has simple, powerful financial management and reporting tools to help you look forward, using your data to determine the impact changes will have on your business. From evaluating relatively simple variables like cutting costs or increasing capacity, to looking at more complex strategies like acquisitions, entering new markets or diversifying your product line, Microsoft Dynamics NAV lets you run what-if scenarios and get a confident look at how your total cost structure and bottom line will be affected.
Simply put: you can get a good look at your future based on your business’ data. And with projections you can trust, decisions become a lot easier and you become a lot more confident.
Read how produce distributor, Poupart, turns data into insight to keep their business fresh and come back for next week’s blog post and see how we can make managing cash much easier.
Until then, see how you can put your data to work[JD1] or learn how Microsoft Dynamics NAV can help you get better financial control over your business.