Paul North, Managing Director, illuminis Insight Software
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.
Today I want to talk about the ways in which business intelligence software can uncover hidden opportunities in your data – to increase your profits and improve the productivity of your business – and do this with little or no effort on your part.
You see, what BI is all about is pulling together your data – automatically – into a single place, which is refreshed every day – or even in real time.
As you know, your ERP or accounting system holds a lot of data and you may well have data sitting in other software – perhaps CRM, stock management or workflow systems.
But let’s keep this simple and focus on data in your ERP. This is the system that records all the commercial and financial transactions of your business. Its primary purpose is to tell you – accurately and reliably – what has actually happened in your business. It’s not the function of your ERP, for example, to tell you which of your regular clients has ceased to buy certain lines from you. Or maybe stopped buying altogether, You can get to that information of course but you need to extract the data into something like Excel and then manipulate it to get the full picture – and you need a lot of time and skill to do that.
By contrast BI software exists to give you clever access into your data . It uses algorithms and rules to spot the links and trends in that data, making it easy to dive in and ask questions you otherwise can’t get to without a huge amount of effort.
Let me illustrate just what I mean with a couple of straightforward examples.
Let’s say you are a business selling nuts, bolts, washers and screws. Your ERP will tell you what you sold in any given period, but what about finding out which of your customers you could be selling more to. So any customer buying bolts for example, must be buying nuts too, so why aren’t they buying them all from you?
With our Octelas BI software installed in your business, you can get to that information in just one click. Let’s take a look at a report which will tell us the exact position.
Here it is. It’s a pivot report showing all your customers on the left with the quantities of each type of product purchased against them.
By sorting the data we can instantly see that some customers who bought your bolts didn’t buy any nuts at all. Clearly they are buying them from somewhere.
Once you have the ability to interrogate your entire dataset in this way – instantly and with no skill needed to do it – I promise you that lots of opportunities to find new sales or increase efficiencies will occur to you quite naturally.
As an illuminis client your personal data analyst will set up the reports best suited to your business so all you have to do is go ahead and find the opportunities.
Now let’s look at your sales in another way.
We all face the difficulty of keeping our customers abreast of the full range of what we sell and this is particularly true of businesses who regularly add new products into their range.
With multiple customers buying differing quantities of products on a month by month basis, it’s impossible to see the buying pattern of each customer unless you can interrogate the data in the right way.
To overcome this, one of our clients with multiple brands relies heavily on a report they call “new to brand”.
So this report tells our client every week the customers who have just bought from a brand range for the first time. This gives the sales team the opportunity to upsell related products from the same or related brands.
I could give you lots more examples but I think you get the idea.
A unique benefit of the illuminis solution is access to your own data analyst who will spend time getting to know your business and your business data. Our analysts talk to lots of businesses just like yours every week. A key part of their job is to chat through with you how you might make better use of your data – we call it “finding the gaps”. That’s the power of business intelligence – all the grunt work done for you leaving you free to get creative and expand your business.
So if you want to maximise the opportunities for your business, then take a look at the unique illuminis solution for SMEs.
For a single monthly fee we give you a one stop shop for SME reporting, combining excellent, easy to use software with specialist advice and support which is always on tap.
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. Thank you