Part 1 of 4 special blog series
Follow the data, Find the Money
This year IDC announced that “Better, faster decision making as a result of data analysis can capture $2,628 per employee in additional revenue.” I can see you crunching the numbers… $2,628 x 100 employees = $262,000 unseen revenue. Ready to take advantage of those lost dollars? It all comes down to how you utilize, and optimize, a rich resource you already possess: corporate data.
Those statistics illustrate why reporting serves as the most important and impactful component of an ERP outlay like Microsoft Dynamics NAV. Executives and managers demand visibility on the data that goes into the corporate business systems to make quick, informed decisions every day. But at an average of 25% of the initial ERP investment, plus up to 50% of deployment fees during upgrades – reporting and analytics traditionally serve as the biggest upfront and ongoing expense.
That staggering statistic isn’t even taking into account the inevitable changes and needed variations to reports, which can more than double your spend and leave you in the dark for days waiting in line.
It doesn’t have to be this way. When it comes to turning your data into useful reports and dashboards that can uncover hidden revenue, your organization has two options: the high spend, long time to value approach, or the low spend, rapid time to value approach.
Where you’re at now – feeling locked in?
If your company uses Microsoft Dynamics, what are your current reporting options? In Microsoft Dynamics NAV 2013, for example, custom RDLC reports can be created and edited in Microsoft Visual Studio, but that process isn’t easy or fast, and it’s not designed for end users to do themselves. These reports must be hard coded by a programmer, so you’ll either need to contract it out – at up to $295 per hour – or if you’re one of the few companies to have an IT team member on staff with the expertise, consider yourself lucky, but get in line.
Of course, even when you get that part of the equation figured out, there’s more to consider: your hard coded reports aren’t how you want them to look, they have a slow turn-around time, and they aren’t flexible enough to make variations or modifications. Over and over, you will have to open up the pocket book to re-code, or take your IT request ticket number and wait, when the inevitable change requests come in.
There is another way.
Consider this: the time and expertise required to create a report comes from one main source: user interface.
Let’s say there is an option where all the data structure work is done for you already, you can instantly grab the information you need to create any report or analysis you want, and was already in Excel? Variations of your reports take minutes, not hours. And as a user, you can get them when you want, where you want, yourself – without relying on expensive resources and without any special knowledge or expertise.
This, my friend, is the backbone of what translates to a low spend, rapid time to value approach with reporting and analytics that can save you up to 80% of your spend, up to 99% of the time to get the data you need, and increase your revenue by 32%.
These numbers aren’t arbitrary. They are real, and they are demonstrated with real companies like yours. But hold tight, we’ll get to that.
The devil is in the details
You might be thinking, “Okay, how much time and money are we really talking about anyway?”
Great question! I’m here to show you not only how to take the low spend, rapid time to value approach, but to prove to you that the payoff is undeniable.
In the next post of this blog series, we’ll take a deeper dive into the high spend, long time to value approach and show you, by the numbers, where money leaks out the door, and where you might get stuck without the data you need.