Data – Deluge and Decisions | Episode 8 | Information for better decisions

Decisions are more effective when based on accurate information We expect big business to have joined up processes and management information at their fingertips But what about small businesses who need to be just as efficient, connected, and informed? Well, service provider, ONLINE50 is helping smaller companies who realize that to make their decisions more effective They need more than just software as Sarah Lockett explains Time for coffee and to check how your business is doing most of us use mobile, email and messaging now But high-quality information needs a view across the whole company not separate islands of data and ONLINE50’s in cloud software and services provide that The beauty of operating in the cloud, of course, is that it’s perfect for people who are working remotely or in the field They can look across their whole business with this system They can input data in real time And it’s the same information that their team or their accountants are looking at. So you can basically log in anywhere. Can you? If you got Wi-Fi. Yeah, so I’m on my Wi-Fi here. Back in the office, I got a closer look at ONLINE50 which is accessible by computer, tablet or mobile It’s customizable and gives a vital overview Different people need different things But all of them fade together. It’s the sales orders that generate the production requirements It’s a production that generate the sales that generate the receivables that the finance team wants everything is part of a single company If you can have it in a single system and have a joined up view that everybody Gets that single version of the truth from that’s really great news. So we’re looking at money owed from customers Accountant Paul Beere uses ONLINE50 originally with SAGE50 accounting software But also with other applications It allows him to be an integral part of his client’s businesses. With ONLINE50 and the offerings that I have, I progress with them and that’s been a very good partnership for me It’s mean I can introduce clients to it and clients that I’ve got Throughout the world I’ve been able to deal with on a live data basis And that’s really helped the beauty over the years that I’ve been with ONLINE50 is we’ve not been let down And I’m pleased to say that the clients are quite happy So this is an example of a customized environment that people might have all of these Rob talked me through an SAP business one dashboard Which integrates with other systems to give a single view of a company. It frees up accountants to take a more strategic role with clients Which is especially useful to SMEs They then have the power of an in-house accountant that they probably couldn’t afford the salary of They’ve delivered all the base information. So they’ve saved themselves some money Because they haven’t had to have the accountant keel that in and then the accountant then delivers the real value which is Delivering the management accounts the predictive analytics and really adding value. Now they’re really not only the trusted adviser It’s almost like your best friend as well. ONLINE50 have had these comments from clients a CEO said Before the information was more of an informed guess than hard evidence Now I can access a broad range of information Directly from my own dashboard. A CFO said now. I’m not chasing down other departments to provide information I can normally answer questions as quickly as I can think of them A production manager said planning the production is easier now I can compare projected sales for the next month But available stop and generate smarter production plans The key thing to try to keep Business information systems simple is simplifying the way you enter the data making sure it’s only in once Making sure all of the information can talk to everything else Having data is not the same as having information lots of data That doesn’t integrate with anything else doesn’t help you. You need joined-up Information that gives you the information to inform your decision-making And this tailored customizable system is more affordable than people might think It’s, unfortunately, true they’re making the wrong choice with software often will destroy a business. Making the wrong choice is always more expensive than making the right choice Even if it seems a lot cheaper at the time

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