Data visualization tools, like software dashboards, are becoming more popular and necessary to deal with exponential data growth. According to the industry research; however, dashboards have often failed or at best they delivered only a fraction of the insight that is needed to monitor the business. Why?
Topics: best practices, dashboards, implementation
After many years observing organizations' budgeting and forecasting software selection and buying processes, we have discovered that many organizations, no matter their size, often jump into the buying process under that assumption that new software will be the answer to all of the organization's budgeting woes. While software can help improve an already well-established budgeting and forecasting process, software in and of itself is never the solution.
Topics: budgeting, forecasting, software solutions, best practices, implementation, budgeting and finance, business processes, Budgeting and forecasting software selection guide
Many government agencies and private corporations are nearing the end of the 7-10 year average lifespan of most budgeting and performance management software systems, causing more and more CFOs to explore new budgeting and performance management technologies. In fact, according to the “2013 Gartner Financial Executives International (FEI) CFO Technology Study,” nearly 60% of CFOs indicated that investing in analytics and decision-making was their top priority, as it should be.
In the past decade, budgeting and financial planning technologies have transformed from error-prone manual data entry tools to an array of advanced analytical, integrated, and sophisticated real-time budget management software solutions, improvements that are only making the software selection even more difficult. Recent independent research revealed the top three software acquisition impairment factors:
To overcome software acquisition impairment, it is imperative to put time, effort and thought into your software selection process and establish quality requirements.
Click on the infographic and discover just how important detailed, thought-through QUALITY requirements are to your budgeting software selection process or read the complete list here.
Topics: budgeting, software solutions, industry insights, best practices, Government Budgeting, implementation, budgeting and finance, business processes, government budgeting software, budgeting analytics
If data dictates our decisions, then why would we allow key information to sit idle simply because it is too hard to reach or too time-consuming to understand or even uncover? More than ever, decision-makers must accelerate how quickly they collect, consume, interpret and analyze data.
Topics: interactive, dashboards, implementation, methodology, visualization, dashboarding, reporting, dashboard, metrics, interactive dashboards
