Hello and thank you for watching this short video.
My name is Paul North and I’m the Founder and MD of illuminis Insight Software, home of the illuminis business intelligence solution for SMEs. Our offering to SMEs is unique. We combine reporting software along with data analyst support as part of a single monthly fee.
Today I want to give you just a quick introduction to the many and varied ways you can use your business data to drive real insights into your business operation to find efficiencies and significantly improve profitability. In fact I don’t think I can do better than share with you some ideas from a seminar we gave alongside Cranfield University Business School, pre pandemic.
Here’s how we handle the data in our clients. It’s grabbed every day from the accounts system or their target data stuff in spreadsheets or whatever, and it’s pulled into a central database, completely automatically.
So that, obviously we’ve then got a central really sophisticated database system in the middle, ever so powerful, that can then produce reporting to the people in the business, wherever they need it, whenever they need it.
I just want to talk through four reports that our customers like and are worth thinking about too, that become really easy to do with software but are really difficult to do in your spreadsheet manually with your data.
So the first one to talk about is pivot reports. So pivot reports are these reports where you can look at two metrics, so you’ve got one metric down the side , maybe customer, then another metric along the top, maybe your product types. So it’s great for doing reports like they bought this, maybe they’ll buy that.
For example, where you’d see all of your customers, you’d see a column for all the drills they’ve bought and a column for all the drill bits they’ve bought and you can quickly spot the ones that are buying one and not the other So a really great opportunity of spreading your business through your existing customers.
As Steffi says, loving them and ringing them up and saying “hey, did you not know we sold drill bits, because you love our drills. So let’s sell you those too, why are you going elsewhere?”
The next one, the Moving Annual Totals. So this is the report that helps you smooth out seasonality. So instead of looking at the data each month, it looks at the accumulation of the previous twelve months into a monthly figure and it removes seasonality.
We have a customer that sell equine health products. Things for horses that work only in the winter. They have nets in the summer for keeping flies off. Very very up and down figures across the year. Looking at it as Moving Total you can really see what’s going on and the underlying trends
Another option the grouping of data. There are very few accounting systems unless you pay an awful lot of money That although they will give you the ability to create multiple companies in those systems will join those companies together as a single Group reporting. Because we’re grabbing that data centrally, then being able to do group reports and it’s something for example we’ve done with a Xero customer recently – they’ve got five European Headquarters, each running a different currency. We can grab all of that together and give them a single Group wide P&L in pounds
four times a day, not the once a month that took the guy half a day to do.
So being able to automate and do these things – really clever.
We’re doing a lot of work – funny how these things go in little phases – where you’ve got one customer suddenly asks for it and it becomes popular.
Performance reports, where you can start looking at metrics like average order value and order counts and so on. There are great ways of looking at different bits of the business
and seeing why is that bit of the business able to do 50 orders a day and they’re only doing 30.
Just finally to finish off, I’ve talked about sales, pretty much only sales, during this but just to say this isn’t just about sales reporting. Sales is the thing that most people do
and it’s the thing that gives lots of the real instant wins and so on. You can do the same kind of stuff with purchasing, great stuff with stock valuation, stock counting, looking at how your stock values are changing over the year.
Things like if you’re a business that sells projects or time. Construction, so on, consultancies then project costs and performance timesheets, all of that kind of stuff
you can get just this same kind of insight stuff through this kind of technology
So I’m going to summarise with what I hope are my take homes from the presentation. So the first one is, data in SMEs is a key asset, it’s a huge key asset and it’s as much an asset as your staff and your customers really make it work you. As much as you can use the software to do the grunt work because if you can get all that done and then dish out to the people in the business
that need it – and that’s everybody. The ability to really get to that data without any skill because all the grunt work’s been done by some clever thing in the background – it’s gonna transform the profitability that you can get.
So remember, Illuminis is the one stop shop for SME reporting, combining excellent, easy to use software with specialist advice and support which is always on tap. So getting help to find those fresh insights is easy, and it’s included in your monthly license fee.
I’d love to give you a quick demo and show you how you too can have the reporting you need at a level you really didn’t think possible at this price.
Email me or visit our website and get in touch.