Phocas Software | Business Intelligence Blog
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Business intelligence software blog is a collection of the latest trends about data analysis written by industry experts specifically for mid-market manufacturers, distributors and retailers. Learn the latest trends in business intelligence for your industry, job role or ERP through our blog.
Phocas Software | Business Intelligence Blog
4h ago
Growth by design is straightforward when aligning business goals with your financial targets and incorporating them into a budget model. Among the various types of budgeting, strategic budgeting serves as the ultimate roadmap for achieving long-term financial goals. When done well, the budgeting process ensures that everyone is aware of the strategic priorities and is more likely to actively participate in the agreed budgeting strategies. Conversely, when this process is not well-executed, people tend to become disengaged and distance themselves from plans in which they do not feel involved ..read more
Phocas Software | Business Intelligence Blog
4h ago
Accurate and actionable financial statements are critical for any business. However, many organizations struggle with incomplete or outdated data, delays in data entry and processing and siloed access ..read more
Phocas Software | Business Intelligence Blog
4h ago
Finance professionals use profit and loss management to monitor their company’s financial health so they can make informed business decisions. Using profit and loss statements, they can easily identify areas where their company can increase revenues, reduce costs, and monitor net income ..read more
Phocas Software | Business Intelligence Blog
4h ago
What is an operating budget?
An operating budget is a resourceful tool that enables businesses to estimate income projections and expected expenses and plan for low-earning or high-spending months. This financial plan provides data that constantly records the costs of your business operations for a specific period (mainly up to the end of the year). It also serves as an outline detailing how much money a company spends and incurring expenses ..read more
Phocas Software | Business Intelligence Blog
3w ago
What is an operating budget?
An operating budget is a resourceful tool that enables businesses to estimate income projections and expected expenses and plan for low-earning or high-spending months. This financial plan provides data that constantly records the costs of your business operations for a specific period (mainly up to the end of the year). It also serves as an outline detailing how much money a company spends and incurring expenses ..read more
Phocas Software | Business Intelligence Blog
3w ago
Whether you are managing inventory or planning an acquisition, to maintain day-to-day operations you need a clear cash flow forecasting process. Staying on top of cashflow means you can gauge your solvency and profitability from a long and short-term perspective ..read more
Phocas Software | Business Intelligence Blog
3w ago
Phocas Software rapidly rolled out AI-powered queries and visualizations making it even easier to use its Analytics product for manufacturing, distribution and retail businesses. More than 40,000 customers using Phocas Analytics can now simply ask questions rather than navigating the database to find answers to guide their planning and decision making at work.
Phocas AI (artificial intelligence) uses a natural language processing model to optimize all departments’ access to actionable insights leading to more informed decisions across the business.
So far, the new AI feature i ..read more
Phocas Software | Business Intelligence Blog
1M ago
Scenario analysis effectively manages and prepares for possible outcomes by examining the potential impacts of future events and anticipating alternative scenarios, such as economic downturns or expanding a product line within a budget model ..read more
Phocas Software | Business Intelligence Blog
1M ago
Making sound business decisions requires accurate financial information. However, budgets are forward-looking and static. It’s easy to create forecasts that are too optimistic about sales or underestimate expenses. This gap can lead to significant differences between what you predicted and what happens, disrupting your cash flow ..read more
Phocas Software | Business Intelligence Blog
1M ago
If the owner of your business wants to expand to a new State, would you have the sales forecasting figures to know whether the business can afford to do that or not? Or, if you had to produce a 3–year solvency projection for the CEO, is your sales forecasting process robust enough to support a reliable analysis ..read more