/ Enhance your ERP system with a BI reporting tool

Enhance your ERP system with a BI reporting tool

It’s no secret that SAP is a popular ERP (enterprise resource planning) software among businesses. However, even the best software can become outdated over time. Outdated systems can lead to inefficiencies and high operational costs.

That’s why many companies are choosing to overhaul their SAP systems with business intelligence reporting tools.

A BI reporting tool can provide a more comprehensive and user-friendly view of data. This can help businesses make better decisions, improve efficiency, and save money.

When you can report on your data in real time, you can make decisions that are based on accurate and up-to-date information. This is a huge advantage that businesses can use to stay ahead of the competition.

There are many different types of BI reporting tools available on the market. It’s important to choose a tool that will fit the specific needs of your business.

If you are considering adding innovative BI reporting tools to your ERP system, read on to learn more about the benefits and how to choose the right tool for your business.

 
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What is a BI reporting tool?

A BI reporting tool is an innovative way to report on data. It allows businesses to see their data in a more comprehensive and user-friendly way. This can help businesses make better decisions, improve efficiency, and save money.

Some common features of BI reporting tools include:

  • The ability to report on data in real-time
  • A user-friendly interface
  • The ability to drill down into data for more detailed analysis
  • Visualizations that make data easy to understand
  • The ability to export data into different formats

Not only can BI reporting tools make data easier to understand, but they can also help businesses save money. Finding new ways to help cut costs can make it appealing to add new technology to existing systems. Over time, your organization can enjoy savings that make the investment worthwhile.

For companies that rely on their ERP systems for business operations, adding BI reporting tools can be a game-changer. These tools can provide a more comprehensive view of data and help businesses make better decisions.

 

How do reporting tools integrate with ERP?

A common question that businesses have is how BI reporting tools will integrate with their existing ERP system. The good news is that most reporting tools are designed to be compatible with SAP, a common ERP software. This means that you most likely won’t have to replace your existing system, and you can continue to use all of the features that you’re accustomed to.

In many cases, businesses can continue to use their existing data sources, and the reporting tool will simply provide a more user-friendly interface. This can be a great way to get started with BI reporting without making a major investment.

 

How do I find the right reporting tool for my business?

There are many different types of BI reporting tools available on the market. It’s important to choose a tool that will fit the specific needs of your business. Consider the following factors when choosing a reporting tool:

1. Make sure the reporting tool can connect to your ERP system

This way, you can be sure that the data you are reporting on is accurate and up-to-date. When you are looking at reporting tools, be sure to ask about their ERP integration capabilities.

2. Consider the needs of your business

When you are choosing a reporting tool, it’s important to consider the specific needs of your business.

What type of data do you need to report on? What are your goals for using the reporting tool? What is your budget?

Answering these questions will help you narrow down your options and choose the right tool for your business.

3. Compare features and pricing

Once you have a short list of potential reporting tools, it’s time to compare features and pricing. Be sure to compare the features of each tool and read reviews to see what others are saying. You should also consider your budget when making your final decision.

4. Recognize the need for training and ongoing support

When you add a new BI reporting tool to your business, it’s important to recognize the need for training and support. This way, you can be sure that everyone in your organization is able to use the tool effectively.

Most reporting tools offer some type of training and support. Be sure to ask the BI tool vendor about this when you are making your decision.

5. Get started with a free trial

Many BI reporting tools offer free trials. This is a great way to test out the tools and see if they’d be a good fit for your business.

When you are looking at free trials, be sure to ask about the features that are included and how long the trial period is.

 
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Unexpected benefits of using BI reporting tools with ERP systems

In addition to the obvious benefits of using BI reporting tools, there are also some unexpected benefits that you may not have considered.

1. You may be able to save money

One of the unexpected benefits of using BI reporting tools is that you may be able to save money. In some cases, businesses are able to eliminate the need for other software programs when they switch to a reporting tool since BI tools serve a variety of purposes.

For example, if you are using a separate program for financial reporting, you may be able to eliminate this program when you switch to a BI reporting tool that includes financial reporting features. This can save you money on software licenses and other costs.

2. You may be able to improve employee productivity

Another unexpected benefit of using BI reporting tools is that you may be able to improve employee productivity. In many cases, employees are able to get their work done more quickly and efficiently when they are using a reporting tool.

This is because reporting tools can provide employees with easy access to the data they need. They can also help employees better understand complex data sets. As a result, employees may be able to make better decisions and complete their work more quickly.

3. You can enhance your decision-making process

In addition to improving employee productivity, using BI reporting tools can also enhance your decision-making process.

When you have access to data that is easy to understand, you can make better decisions about your business. You can also use data to support your decisions and justify your actions to others.

4. You may be able to improve customer satisfaction

Another unexpected benefit of using BI reporting tools is that you may be able to improve customer satisfaction. In many cases, customers are more satisfied when they are able to easily access data about your products or services.

Additionally, being able to quickly and easily generate reports can help you resolve customer issues more quickly. This can lead to higher levels of customer satisfaction.

 

Are there risks associated with using BI reporting tools?

While there are many benefits associated with using BI reporting tools, there are also some risks that can arise.

1. You may need to train your employees

Another risk associated with using BI reporting tools is that you may need to train your employees. In some cases, employees are not familiar with the way reporting tools work, no matter how intuitive the tool is. As a result, they may need to be trained on how to use the tool.

This can take time and money. Additionally, it can be disruptive to your business if you have to train a large number of employees at once.

2. You may need to invest in support

If you decide to use BI reporting tools, you may also need to invest in support. In some cases, businesses find that they need to hire consultants or purchase support services when they switch to a reporting tool.

 

The bottom line

When it comes to enhancing ERP with BI reporting tools, there are many ways you can improve your business. However, it’s important to consider the right tool for you. With so many options on the market, it can be hard to decide which one is best for your business.

Keep in mind your budget, the features you need, and how easy the tool is to use. You should also make sure that the BI reporting tool you choose integrates well with the ERP system you use. Once you’ve considered all of these factors, you’ll be able to choose the best BI reporting tool for your business needs.

The results of using a BI reporting tool can be impressive—are you ready to enhance and upgrade your systems? Consider the benefits and make the decision that is best for your business.

Check out some related resources:

Domo for Financial Services Playbook

Why BI Programs Fail to Scale: The Data Decision Gap

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